On Friday, the Nigeria Sovereign Investment Authority released their annual result for the Year ending 31st December 2014.
The results showed that the Authority’s Total Assets grew by 8% and Net Income rose from N505.7m to N13.9b. In October last year, NSIA CEO Uche Orji explained that its investment programme in the six months that followed would go ahead, even as revenues that provide its capital were hit by falling oil prices.
While the fund was created to act as a buffer against short-term macro-economic instability, Orji mentioned in an interview with Bloomberg earlier this month that the fund was not yet large enough to make withdrawals worthwhile. Adding that withdrawals would be an option in future years once the fund became larger.
See the snapshot of the results below.