NSIA Reports 91% Profit Drop to $107M Amid FX Losses

The Nigeria Sovereign Investment Authority (NSIA) experienced a dramatic 91% decline in profit, dropping to $107.03 million from $1.24 billion in 2024. This downturn was largely attributed to the disappearance of foreign exchange gains that had previously inflated earnings.

In 2024, NSIA recorded substantial foreign exchange gains of $566.9 million, but in 2025, it faced a foreign exchange loss of $214.2 million due to relative currency stabilization. Total operating income fell to $137.97 million from $1.3 billion in 2024, while total operating profit decreased to $127.80 million from $1.2 billion.

Despite the profit contraction, core operating income rose modestly to $349.07 million from $328.54 million, indicating underlying operational resilience. The NSIA's total assets grew to $3.42 billion, and government contributions increased to $2.06 billion.

Analysts noted that the earnings volatility reflects macroeconomic shifts, particularly in exchange rates, impacting NSIA's financial performance.