By Jemimah Wellington, JKNewsMedia Correspondent
PROFIT AT the Nigeria Sovereign Investment Authority (NSIA) fell sharply by 91 percent to $107.03m in the 2025 financial year from $1.24bn in 2024, reflecting a reversal of foreign exchange driven gains.
JKNewsMedia.com reports that the NSIA latest financial statements showed that currency stability reduced valuation gains previously recorded on naira denominated assets.
The Authority noted that it recorded a $214.2m foreign exchange loss in 2025 compared with a $566.9m gain in 2024 following the devaluation of the naira.
Gains from FX linked collateralised securities declined to $3.1m from $407.9m in 2024, it states.
Total operating income dropped to $137.97m from $1.3bn in the previous year, while operating profit fell to $127.80m from $1.2bn.
Core operating income rose to $349.07m from $328.54m, while interest income increased to $197.34m. Investment income declined to $18.07m.
Equity investments shifted from a $28.4m gain in 2024 to a $7.2m loss in 2025.
Agriculture related revenue dropped to zero following the Authority’s planned exit from the Presidential Fertilizer Initiative.
Also, the Authority confirmed that the transition of the initiative to the Ministry of Finance Incorporated between 2024 and 2025 aligns with its long-term strategy to focus on sustainable market driven operations.
Total assets increased to $3.42bn from $2.88bn, while government contributions rose to $2.06bn. Total equity climbed to $3.4bn.
JKNewsMedia.com also reports that the Authority stated that its performance in recent years has been closely tied to exchange rate movements, noting that the naira devaluation period between 2023 and 2024 generated gains that pushed profits above $1bn.
It added that stabilising currency conditions in 2025 resulted in a correction in reported earnings.
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