Nigeria Sovereign Investment Authority announces 1122% income surge in 2023

The Nigeria Sovereign Investment Authority, managers of the country’s Sovereign Wealth Fund, has announced a 1,122 per cent increase in its total comprehensive income, which closed at N1.18 trillion for 2023, relative to N96.96 billion reported in 2022.

This was contained in its 2023 audited financial results disclosed to Newspot on Friday.

Accordingly, NSIA said its total Comprehensive Income (excluding foreign exchange gains) rose from N21.39 billion in the previous year to N164.69 billion, marking a 670 per cent increase.

NSIA attributed the growth to robust strategic asset allocation and adherence to best-in-class enterprise risk management processes.