By Tony Obiechina Abuja

The Nigeria Sovereign Investment Authority (NSIA) yesterday disclosed that its net assets grew from N156bn in 2013 to N4.35 trillion in 2024.

Similarly, the Authority has remained profitable for 12 consecutive years, leading to cumulative retained earnings of N3.

Managing Director and Chief Executive Officer of NSIA, Aminu Umar- Sadiq made these disclosures at a media engagement in Abuja, highlighting its audited financial results for the 2024 fiscal year.

According to him, the results underscored the resilience of the authority’s investment strategy and the strength of its earnings, driven by a well-diversified revenue base and robust risk management practices, despite a challenging global macroeconomic and geopolitical environment.

Total operating profits, excluding share of profits from associates and Joint Venture (JV) entities, increased from N1.17 trillion in 2023 to N1.86 trillion in 2024, driven by the strong performance of

NSIA’s diversified investment portfolio, infrastructure assets, gains from foreign exchange movements, and derivative valuations.

In addition, Total Comprehensive Income (TCI), inclusive of share of profits from associates and JV entities, reached N1.89 trillion in 2024, reflecting a 59 per cent increase from N1.18 trillion in 2023.

Core TCI (excluding foreign exchange and derivative valuation gains) rose by 148 per cent to N407.9 billion in 2024 compared to N164.7 billion in 2023, supported by robust returns on financial assets measured at fair value through profit and loss, including collateralised securities, private equity, hedge funds, and Exchange-Traded Funds (ETFs).

Umar-Sadiq said the authority’s outstanding financial performance in 2024 reflected the “strength of our strategic vision, disciplined execution and unwavering commitment to sustainable socio-economic advancement.”

He said, “By leveraging innovation, strategic partnerships and sound risk management, we have not only delivered strong returns but also created value for our stakeholders

“As we move forward, we remain focused on driving economic transformation, expanding opportunities, scaling transformative impact and ensuring long-term prosperity for current and future generations of Nigerians.”

The CEO reaffirmed the authority’s commitment to managing the country’s SWF, and delivering the mandates enshrined in the NSIA Act.

He said NSIA remained poised to continually create long-term value for its stakeholders by delivering excellent risk-adjusted financial results, developing a healthy and well-diversified portfolio of assets and large-scale infrastructure projects, and enhancing the desired social outcomes.

He noted that NSIA was committed to its mandate of prudent management and investment of Nigeria’s sovereign wealth.

“In adherence to its Establishment Act, NSIA prioritises transparency, disclosure, and effective communication with all stakeholders and counterparties,” he said.

He pointed out that in the year under review, a new board, led by Olusegun Ogunsanya as Chairman, was appointed by President Bola Tinubu, in accordance with the provisions of the NSIA Act.

The new board will provide strategic direction and oversight, in addition to playing a pivotal role in critical decision making.

He remarked that under the guidance of the Board, the Authority will retain focus on its primary mandate of creating shared value for all stakeholders based on its continued adoption of corporate governance practices.

“NSIA prides itself an investment institution of the federation established to manage funds in excess of budgeted oil revenues and its mission is to play a pivotal role in driving sustained economic development for the benefit of all Nigerians through building a savings base for the Nigerian people, enhancing the development of the county’s infrastructure, and providing stabilisation support in times of economic misadventure,” he added.

Matchday 11 of the 2024/2025 Nigeria Women Football League (NWFL) Premiership season witnessed a total of eight games played across various stadia in the country with 18 goals scored.

It began with newcomers Benue Queens recording their first win in the league following a hard-fought 1-0 victory over Ibom Angels at the Lafia Township Stadium.

Joy Ikyagh’s 57th-minute strike proved decisive in Lafia, ending a frustrating 11-game run without a win—comprising 10 losses and one draw—for Coach Liadi Bashiru’s debutant side.

In Benin City, reigning champions Edo Queens extended their unbeaten streak with a dominant 3-1 win against Dannaz Ladies at the Samuel Ogbemudia Stadium.

Anjor Mary netted a brace, while Chioma Moses added a third for the hosts. Meanwhile, Rosemary Okorie’s goal for Dannaz was merely a consolation as they suffered their seventh defeat of the campaign.

Bayelsa Queens also maintained their unbeaten record, playing out a 1-1 draw with hosts Adamawa Queens in Numan.

 Delight Isaac opened the scoring for the visitors in the eighth minute, but Katon Waken equalised early in the second half for the home side.

Elsewhere, Abia Angels secured the only away win of the round thanks to Winner Onajite’s goal in Anyigba against Confluene Queens —reviving their chances of a top-three finish.

In Owerri, Remo Stars Ladies were held to a 1-1 draw by Heartland Queens.

Onyinyechi Kalu gave the hosts the lead before Bolaji Olamide ended her four-game goal drought to rescue a point for Wemimo Mathew’s side.

In Port Harcourt, Rivers Angels produced the most emphatic result of the matchday, dismantling Delta Queens 3-0 in a South-South derby, courtesy of a hat-trick from Mary Moses – her second treble this term.

Naija Ratels continued their playoff push with a narrow 1-0 win over FC Robo Queens at the Bwari Township Stadium with Sofiat Bankole scoring the match-winner.

In Ibadan, Ekiti Queens and Nasarawa Amazons played out a thrilling 2-2 draw at the Lekan Salami Stadium.

Zainab Ismail scored twice for the hosts Ekiti, while Jenat Akekeromowei and Hembafan Ayatsea were on target for the visitors.

With two rounds left in the regular season, Edo Queens, Bayelsa Queens, and Rivers Angels have sealed their places in the Super Six playoffs.

Remo Stars Ladies of Ikenne, Ogun  can join the trio with a win on Matchday 13 .

Meanwhile, the quartet of Nasarawa Amazon, Abia Angels, FC Robo Queens and Naija Ratels, will take their Super Six qualification hopes to the final day of the regular season.

The winner of the Super Six playoffs would be declared the winner of the league season. (NAN)

The Kogi  Internal Revenue Service (KGIRS) has warned illegal revenue collectors to stop their activities, or risk arrest.

Alhaji Sule Enehe, Executive Chairman,
Of the KGIRS, gave the warning during an interactive session with newsmen, in Lokoja.

“The activities of illegal revenue collectors is becoming worrisome in spite of repeated warnings.

“Those involved in this unconstitutional act have to stop  or face the full wrath of the law.

“This is because we are aware that some individuals hide under the cover of transport unions to collect certain illegal levies from motorcycle and tricycle operators.

“They usually block the roads in places like Adankolo junction, suya junction near the federal university Lokoja, first 200 housing unit junction, old market among other places within Lokoja Metropolis and the LGAs, ” he lamented.

The KGSIRS chairman said that the service would continue to block all leakages in the system in order to boost revenue generation of the state .

According to him, perpetrators of the illegal act will soon be apprehended and prosecuted in accordance with the existing laws of the land.

The chairman maintained that collection of revenue due for Kogi was the statutory function of KGIRS as spelt out by the law.

”We will show no mercy to those involved in the illegal activities.

“We will not rest until we rid the state of illegal tax collectors because their actions and activities are already posing security threat to the state.

“The law for revenue collection in Kogi State is very clear to every body and we don’t expect any union to be collecting revenue meant for government, it is illegal and we are appealing to the security agencies in the state to assist us so that we can continually clampdown heavily on them.

On the implementation of the Land Use Charged Law, Enehe said that the law would pave way for better infrastructure, improved public services and a greater future for the people of Kogi.

He said that when fully implemented, it could foster data-driven decision making, pave the way for the development of smart cities and jobs creation in the state.

The chairman said that the service does not want anything to affect the 2025  Internally Generated Revenue (IGR) target of N39 billion.

He said that the state government was doing all it can to provide the desired social amenities such as water, roads, electricity, schools and health care centres for the people of the state. (NAN)