The Nigeria Sovereign Investment Authority (NSIA) which is responsible for the management of Nigerian Sovereign Wealth Fund (SWF) has reported a total income of N505.694 million for the 15 months which ended December 2013.
According to the results audited by PricewaterhouseCoopers and made available to THISDAY, NSIA recorded a gross operating income of N1.466 billion and non-operating income of N495 million, bringing the total gross income to N1.961billion.
It spent N21.905 million on investments, management and custodian fees, while N1.414 billion was spent on operating and administrative expenses. There was N19.464 million provided for change in net fair value, bringing the total comprehensive income for the 15 months to N505.694 million.
NSIA ended the period with total assets of N157.595 billion. An analysis of the authority’s equity and reserves showed that government made a contribution of N155.250 billion, while retained earnings stood at N525.158 million, amounting to N157.755 billion.