Reports indicate that Nigeria’s Sovereign Investment Authority (NSIA) is planning a takeover of underperforming government assets such as power plants.
The move suggests operators of the country’s sovereign wealth fund want to move from managing portfolio assets.
Why they are pivoting
NSIA CEO, Mr. Orji, claimed the rising inflation and state of the government’s fiscal revenue means there will be budget constraints for critical social spending which could also impact capital injection into the sovereign fund. As we see significant opportunities in the power and real estate in the Federal Government portfolio of assets.
The NSIA currently has investments in Agriculture, Real Estate, Cloud Computing, Gas Industrialisation, Health Care, and tolling. See some of its investments;
The Presidential Fertiliser Infrastructure is one of the Authority’s most successful intervention programmes.
PandaAgric – NSIA expects to commission Panda Agric in mid-to-late 2022. Panda Agric is an investee company under the NSIA-UFF US$200m Agriculture Fund set up in 2016. Approximately 96 percent (720ha) of the targeted 750ha of centre pivot irrigation coverage has been achieved.
It invested in a hyper-scale cloud data company – Kasi Cloud Limited. The company focuses on enabling cloud and digital transformation in Africa starting in Lagos, Nigeria. Kasi has commenced the construction of a “Tier IV” data centre worth US$250 million in Lagos.
They have pilot healthcare centres that deliver and operate 3 Centres where over 60,000 patients have received care.