By Folasade Akpan
Over the years, the challenge of providing adequate infrastructure for Nigerians has been a herculean task for government at all levels and the Federal Government has at several occasions called on organisations to help in bridging the gap.
The Vice President, Prof. Yemi Osinbajo, at an event in 2020 said that in spite of government interventions over the years, Nigeria still faces a huge infrastructural deficit, which is constraining rapid economic growth.
He had said that according to the Nigerian Integrated Infrastructure Masterplan (NIIMP) and the Economic Recovery and Growth Plan (ERGP), Nigeria needs up to three trillion dollars over the next 30 years to bridge its infrastructure gap.
Second Niger BridgeThe devastating impact of the COVID-19 pestilence on the global economy is obvious. Reason finance experts rightly predicted that many corporations’ finances in 2020 would be in red. The International Monetary Fund did predict that the global economy would contract by three percent as countries around the world shrink at the fastest pace in decades.
The IMF described the global decline as the worst since the Great Depression of the 1930s. x
It said the pandemic had plunged the world into a “crisis like no other”.
The Fund added that a prolonged outbreak would test the ability of governments and central banks to control the crisis.
Uche Orji, CEO, Nigeria Sovereign Investment Authority (NSIA) The Nigeria Sovereign Investment Authority (NSIA), yesterday, hinted that its net assets grew by N193.21billion in 2020, representing a 33 per cent increase over the N579.54 billion recorded in 2019. In its 2020 audited financial statement, the investment institution said it grew income from N36.15 billion in 2019 to N160.06 billion in 2020. NSIA attributed the performance to its investments in international capital markets, improved contributions from subsidiaries/affiliates and exchange gain from foreign currency positions. According to the financial report, NSIA recorded N109 billion as core income compared to N33.07 billion recorded in 2019, excluding devaluation gain of N51 billion.
Obinna Chima in Lagos and Emmanuel Addeh in Abuja
The Nigeria Sovereign Investment Authority (NSIA), manager of Nigeriaâs Sovereign Wealth Fund (SWF), yesterday announced its audited results for its 2020 financial year, reflecting a strong financial performance and consistent implementation of strategic infrastructure investment programmes for the year.
The results showed that despite the challenges posed by the COVID-19 pandemic in the year under review, the NSIA recorded 343 per cent growth in its total income, which rose to N160.06 billion in 2020, up from the N36.15 billion in the previous year.
Also, excluding devaluation gain of N51 billion, the NSIA made a core income of N109 billion compared to N33.07 billion in 2019.
Uche Orji, CEO, Nigeria Sovereign Investment Authority (NSIA)
The Nigeria Sovereign Investment Authority (NSIA), yesterday, hinted that its net assets grew by N193.21billion in 2020, representing a 33 per cent increase over the N579.54 billion recorded in 2019.
In its 2020 audited financial statement, the investment institution said it grew income from N36.15 billion in 2019 to N160.06 billion in 2020.
NSIA attributed the performance to its investments in international capital markets, improved contributions from subsidiaries/affiliates and exchange gain from foreign currency positions.
According to the financial report, NSIA recorded N109 billion as core income compared to N33.07 billion recorded in 2019, excluding devaluation gain of N51 billion.