Managing Director of the Nigerian Sovereign Investment Authority (NSIA) which manages Nigeria’s sovereign wealth fund, Mr. Uche Orji has disclosed that the fund has a total assets of about $1.8 billion.
Orji made this disclosure yesterday, while visiting the Nigerian Stock Exchange (NSE) in Lagos.
According to Orji, the NSIA is shifting its focus from foreign investments to domestic investments. He said that the company led other investors in recent investments in a dairy farm and tomato paste firm in Northern Nigeria.
The Managing Director said the Investment Authority will manage three funds. They are Future Generations Fund, that will preserve and grow the value of assets transferred into it by investing in a diversified portfolio of appropriate growth investments. There is the Nigeria Infrastructure Fund, which aims to invest in domestic infrastructure projects that meet targeted financial returns and contribute to the development of essential infrastructure, and finally the Stabilisation Fund, which acts as a buffer against short-term macro-economic instability in the nation.
According to Orji, “We have five areas of immediate focus for infrastructure which are healthcare, agriculture, tolled roads, power and real estate. Our mandate is to manage the three funds by investment mostly in infrastructure,”
