NSIA invests $500m in domestic infrastructure – Official

The Nigeria Sovereign Investment Authority (NSIA) says it has invested over 500 million dollars in domestic infrastructure and over 1 billion dollars in third party investment.

Mr Aminu Sadiq, the Managing Director, NSIA, said this at an investigative hearing of the House of Representatives ad hoc committee probing the activities of the NSIA in Abuja on Tuesday.

Sadiq said that the NSIA had carried out a robust infrastructure investment portfolio covering several critical sectors.

He said that the sectors included agriculture, healthcare and power, while developing over 10 institutions and platforms to improve the financial market ecosystem.

He said the agency was working on a solar panel project with over 500 jobs to be created, while 13,504 affordable housing units were under construction, and it supported over 236,000 farmers among others.

He said the net assets growth of the agency had grown from N156 billion in 2013 to N1.017 trillion in 2022.

Mr Kolade David, the President, Association of Local Governments of Nigeria (ALGON) acknowledged NSIA’s investment in health and education.

Rep. Ademorin Kuye, the Chairman of the committee said the aim of the investigation was to ensure that the statutory provisions of the law establishing the agency was adhered to.

He said the House wanted to be able to have answers to questions from Nigerians on how the funds of the agency were being managed.