Aminu Umar-Sadiq, the Managing Director and Chief Executive Officer of the Nigeria Sovereign Investment Authority (NSIA), has announced that the agency has successfully developed 500,000 affordable homes aimed at supporting low-income families.

The agency revealed that 245,000 direct jobs have been generated across various sectors since its establishment 12 years prior.

Umar-Sadiq articulated this observation during the visit of the House of Representatives Committee on Finance to the NSIA for oversight purposes.
The Authority has also extended its support to more than 236,000 farmers through its investments in agriculture.

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Umar-Sadiq noted their role as project managers in the development of a 10 MW solar initiative in Kano State, which resulted in the creation of over 500 direct and indirect employment opportunities. Additionally, they successfully completed three motorway projects, collectively spanning 515.4 km.

He stated that they have effectively finalized three hospital projects, serving more than 282,100 distinct patients and administering 150,000 chemotherapy sessions.

He noted that NSIA has initiated significant projects with extensive ramifications across essential sectors, including technology.
The Authority has also introduced the NSIA Prize for Innovation Programme (NPI) to facilitate the advancement of the technology ecosystem and to enhance the global standing of Nigerian tech talents.

He noted that NSIA, in partnership with Guarantco, founded the Infrastructure Credit Guarantee Company in 2016 to improve the credit quality of debt instruments aimed at financing viable infrastructure assets in Nigeria.

He stated that Infracredit has successfully reached financial closure on 21 infrastructure projects, securing a total debt amounting to $218 billion.

“Furthermore, through its investment in the Family Homes Fund, NSIA has markedly enhanced the living standards of Nigerians from low-income households by facilitating the construction of 500,000 affordable homes for these families in Nigeria.” Furthermore, NSIA persistently showcases its dedication to fostering favorable socio-economic results via essential initiatives such as the Nigerian Mortgage Refinance Company (NMRC), which enhances the liquidity of the mortgage market to facilitate affordable housing in Nigeria.

The Deputy Chairman of the House Committee on Finance, Saidu Musa Abdullahi, remarked that this visit marks the inaugural engagement of his committee with the agency.

He asserted that their sole concern was with financial prudence.
He emphasized the necessity for the agency to enhance its investment in the agricultural sector and to expand the sugar cane value chain, which he noted is presently yielding over 40 billion dollars annually for Brazil.

He expressed regret that the privatised sugar factories have failed to produce the anticipated dividends.

Abdullahi articulated the necessity for the Nigerian government to reclaim the sugar factories that had been subjected to privatization.
The Niger state government has announced plans for the development of a 250-hectare tract of farmland dedicated to sugar cultivation, which is projected to yield approximately one billion dollars for the state.

He stated that the NSIA is positioned among the foremost sovereign wealth funds worldwide, achieving a joint first ranking with New Zealand in 2023.