NSIA Records ₦1.86 Trillion Profit (59% Increase) In 2024, Highest In History

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NSIA Records ₦1.86 Trillion Profit (59% Increase) In 2024, Highest In History

The Nigeria Sovereign Investment Authority has announced a record profit of ₦1.86 trillion for the 2024 financial year.

This marks a 59% increase from the previous year, with total income reaching ₦1.89 trillion. The fund’s net assets also nearly doubled to ₦4.35 trillion.

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The NSIA says this growth came from smart investments in infrastructure, a strong portfolio strategy, and gains from currency markets.

This is the Authority’s best performance since it was established, and it reflects President Bola Tinubu’s push for better management of Nigeria’s sovereign wealth and public assets.

The result is expected to boost investor confidence and support long-term development across the country.

Oil Theft Drops by 73% – NEITI Report Shows Major Progress

Nigeria has recorded a major victory in the fight against oil theft.
According to the Nigeria Extractive Industries Transparency Initiative, oil theft dropped by 73% in the past year.

This is a huge improvement from previous levels, where theft was affecting over half of oil production in some areas.

The drop is thanks to stronger security efforts and better government coordination under the Tinubu administration.

Experts say this progress could lead to more foreign investment, increased oil production, and thousands of new jobs.

It’s a big step forward for Nigeria’s oil sector and the wider economy.

Last updated on April 26th, 2025 at 10:21 am