Nigeria Sovereign Investment Authority (NSIA) crossed the $3 billion net asset mark in the first half (H1) of 2025, highlighting steady balance sheet growth despite currency volatility and tight domestic financial conditions.
By June 2025, NSIA’s net assets stood at $3.10 billion, up from $1 billion at inception. This translates to a compound annual growth rate of about 9.9 percent over more than a decade. Growth has been supported by government contributions and retained earnings from investment activities.
In the H1 of 2025, core total comprehensive income rose by six percent year-on-year to N202.1 billion.
From portfolio investor to systems builder
Established in 2011, NSIA was originally designed as a stabilisation and savings vehicle. Over time, its role has shifted beyond portfolio investing into building platforms aimed at closing structural gaps across key sectors.
In 2025, the Authority recorded a 100 percent score on the Global SWF Governance, Sustainability and Resilience Index and retained a 9 out of 10 rating on the Linaburg-Maduell Transparency Index.
Innovation financing is one area that NSIA has devoted significant attention. In partnership with the Japan International Cooperation Agency (JICA), NSIA launched a $28 million Impact Innovation Fund to support early-stage technology-driven businesses. Essentially, this fund blends concessional capital with NSIA financing and targets startups addressing social and economic challenges.
This follows earlier efforts such as the NSIA Prize for Innovation, which has become a notable entry point for young founders. The most recent edition attracted more than 5,000 applications and awarded over $250,000 in funding.
Healthcare has also remained a major focus. Through its healthcare subsidiary, MedServe, NSIA partnered with the Federal Ministry of Health to upgrade oncology and nuclear medicine facilities. In 2025, three oncology centres were commissioned at teaching hospitals in Benin, Enugu and Katsina. Patient treatments have already commenced at some sites.
Alongside oncology infrastructure, NSIA has invested in training. A $2 million oncology programme launched in 2024 aims to train 500 clinicians nationwide. According to reports, more than 180 healthcare professionals have completed the specialised training so far.
Energy, agriculture, market-building
In the energy sector, NSIA has prioritised renewable and distributed power solutions. Its Renewable Investment Platform for Limitless Energy (RIPLE) targets investments across the solar, battery storage and diesel replacement value chain. The platform builds on the 10MW Kano Solar project, currently Nigeria’s largest grid-connected solar plant.
In 2025, NSIA also partnered with Africa50, the International Solar Alliance and Sustainable Energy for All to launch a Distributed Renewable Energy Fund. The fund is designed to mobilise private capital for mini-grid and off-grid projects in underserved communities.
However, agriculture remains NSIA’s longest-running intervention. Since assuming management of the Presidential Fertiliser Initiative in 2017, the number of operational blending plants has grown from four to over 80. Cumulative fertiliser output is estimated at about 130 million bags. In 2025, the programme entered a transition phase under a new governance structure with the Ministry of Finance Incorporated.
Housing featured in NSIA’s investment portfolio through the Renewed Hope Cities and Estates Initiative. In Kano, an affordable housing project supported by NSIA was about 75 percent complete by the third quarter of 2025 and running ahead of schedule. The Authority has also backed housing finance institutions such as the Nigeria Mortgage Refinance Company and the Family Homes Fund.
Beyond physical assets, NSIA has played a role in building financial market infrastructure. In 2025, it contributed to the N100 billion capitalisation of the National Credit Guarantee Company, aimed at reducing lending risks and expanding access to credit for households and small businesses. This builds on earlier platforms such as InfraCredit and the Green Guarantee Company.