The Nigeria Sovereign Investment Authority (NSIA), Uche Orji, on Friday announced that a comprehensive income increase of N26.3 billion was recorded in 2015 compared to N15.7 billion that was recorded in 2014.
Managing Director of the NSIA, Uche Orji made this revelation during his interview granted to newsmen in Abuja.
Orji said the authority’s investment income is N 5. 8 billion, while its total assets, which grew by 20 per cent, recorded N213. 6 billion at the end of 2015.
He said in February, the Federal Government approved additional capital of 25 million dollars to the authority.
”Private equities are people who seek opportunities in private markets and invest over time and get returns.
”This has been one of the most successful asset classes of investment in the world, the difference, however, is that they invest over three to four years and start giving returns.
”We believe it is one of those things that will help the Nigerian capital market develop significantly and will earn us significant amount of return.
”So, we unbounded four Nigeria-based portfolio managers in private equity, bringing our total commitments of private equity to 24,” he said.
‘’The first we arrived at is on real estate and we expect that it will be operational in the second half of this year.’’