NSIA to fund infrastructure with $250m additional capital


Nigeria Sovereign Investment Authority, NSIA, managers of Nigeria sovereign wealth fund, has said that 40 per cent of the additional $250 million (an equivalent of N49.3 billion) allocated to it by the Federal Government February this year would be deployed to fund on-going infrastructure projects on behalf of the government.

The Authority said that another 40 per cent of the fund would be invested in alternative assets classes, an area it recorded remarkable success in 2015, while the remaining 20 per cent would be deployed to the Stabilisation Fund.

According to Mr. Uche Orji, Managing Director/CEO, NSIA, the Authority has identified agriculture, healthcare, motorways, power and real estate as five key sectors for infrastructure development, adding that they are part of the 15 investable sectors contained in its Infrastructure Rolling Plan.

He noted that NSIA has increased commitment to development of institutions that would enhance infrastructure investments in the country, while assuring it would continue to explore other asset management opportunities on behalf of the Federation as outlook for the oil market remained challenging.

Orji disclosed that NSIA commenced early works III (EW3) as part of the preliminary construction activities on the second Niger Bridge (2NB) project site in 2015.

- Advertisement -First Bank The Voice of Nigeria