NSIA to increase exposure to local investments

The Nigerian Sovereign Investment Authority (NSIA) says it will increase the quota of funds it invests locally from 40 percent to 50 percent.

Uche Orji (pictured), NSIA managing director, disclosed this plan during a webinar titled ‘Funding Nigeria and Investment Opportunities during a Pandemic’.

“Our view of it is that this is an environment that provides significant opportunities as opposed to and it is something that if you still have real liquidity you can get involved with,” he said.

“We’re also seeing real dislocations, evaluations and pricing which is what you’ll expect in an environment like this and I will encourage anybody who sees a long-term view of continents like Africa or Nigeria, in particular, to see it that way from the glass half full as opposed to a glass half empty and I say that only because you may never get an opportunity like this to make a long-term value of returns that you intend to make in investing in Nigeria.

“For us at the NSIA, you’re seeing us relocate our capital from what was initially 40 percent for domestic Nigeria investment to 50 percent.”

According to Orji, sectors like healthcare and agriculture will receive more attention.

“So you see us getting very active in capital deployment; very active in agriculture; road projects; and in healthcare.

“One of the similar areas of interest for us that we are going to be very active in its pharmaceuticals. To make this happen we are in partnership with Investor College London to develop a strategy.

“You’re also going to see us very active in gas industrialization. One of the most active things we’re working on today is converting fluid gas into products for Nigeria.

“At the same time in our agriculture investments, we’re currently at the moment running the fertilizer initiatives in Nigeria.

“We are co-investing with OCP to build a basic chemical platform in Nigeria, again, taking advantage of the gas industry in this country most of which is currently wasted.

“And the fourth thing we are doing is looking for ways of aggregating domestic capital.

“I believe that the opportunity in this country has to offer is still significant and not yet fully understood.”

Orji added that the NSIA is also going to deploy a lot of capital into the power and energy sector in Nigeria.