For the fiscal year 2023, the Nigeria Sovereign Investment Authority, entrusted with managing the nation’s Sovereign Wealth Fund, disclosed a noteworthy 1,122% increase in its total comprehensive income, reaching N1.18 trillion. This is a substantial leap from the N96.96 billion recorded in 2022.
The 2023 audited financial results containing this information were shared with NewsNow on Friday.
NSIA specifically noted that its total comprehensive income, excluding foreign exchange gains, surged from N21.39 billion in the prior year to N164.69 billion, representing a remarkable 670% uptick.
The authority credited this significant growth to its strong strategic asset allocation practices and the strict adherence to top-tier enterprise risk management protocols.