The Nigeria Sovereign Investment Authority is the manager of Nigeria’s Sovereign Wealth Fund. It was established as independent agency by an Act of the National Assembly in May 2011. The Bill was assented to by the then President of the Federal Republic of Nigeria, Dr. Goodluck Ebele Jonathan on May 26, 2011 and subsequently gazette on June 3, 2011.
Statutorily, it is set up to receive, manage and invest in a diversified portfolio of medium and long term, revenue of the Federal government, State government, Federal Capital Territory, Local government and Area Councils to prepare for the eventual depletion of Nigeria’s hydrocarbon resources for the development of critical infrastructure in Nigeria that will attract and support foreign investment, economic diversification, growth and job creation.
Guided by the Santiago principles, the NSIA has developed and put into practice frameworks for good corporate governance, risk management, transparency and accountability and this has manifested in its very early attractiveness as a credible partner to leading private investors, private equity funds and DFIs.
In recognition of the impressive strides the NSIA has recorded despite its young state it received global recognition through its admission into the International Working Group of Sovereign Wealth Funds and awarded the "African Sovereign Wealth Fund of the Year” by the Africa Investor magazine in 2013; and only recently it was awarded the "Most Innovative Sovereign Wealth Fund’ in the world by the internationally influential European CEO magazine.
Since its creation, the young authority has quickly made progress and registered itself in the consciousness of the SWF global community.