NISA to Focus on Domestic Infrastructures in 2016

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The Managing Director of Nigeria Sovereign Investment Authority (NSIA) Mr Uche Orji said attention will be on domestic infrastructure in the remaining part of 2016 unto 2017. He disclosed this while address stockbrokers and financial journalist at the closing of Gong on the floor of the Nigerian Stock Exchange (NSE) in Lagos.

Orji who commended the NSE management team and market operators for keeping faith in the market by introducing different classes of products, despite the global economic challenge facing nations. He said they are focusing on five key areas which includes, agriculture, healthcare, real estate, power, and toll roads.

Talking specifically, Orji said because Nigerian spends a lot in medical tourism, the healthcare sector involves the constructions of five medical diagnostic centres and a specialist hospital in federal hospitals located in the six geopolitical regions in Nigeria. On the Second Niger Bridge, he said they already commenced the early works. While the National Assembly are having a national stakeholders meeting on tolling policy.

On his part the Doyen of the day Mr Sam Ndata of Compass Securities Limited, urged the NSIA to bring parts of the funds to the market, especially the list able funds. The NSIA has three funds which includes, the Future Generations Funds (FGF) with 40 percent, the Nigeria Infrastructure Fund 40 percent (NIF) and the remaining 20 percent for the Stabilisation Fund (SF).

NSIA was signed into law by President Goodluck Jonathan on May 27, 2011, and authorizing the establishment of the three ring-fenced funds which are jointly owned by the three tiers of government. The sovereign wealth manager commenced operations in October 2012 with an initial allocation of US$ 1Billion in seed capital.

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