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NSIA Records N160bn Income

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The Nigeria Sovereign Investment Authority (NSIA) says it had a strong year in 2020, recording N160.06billion in total comprehensive income amounting to 343 per cent growth compared to N36.15billion in 2019.

The Managing Director, Mr Uche Orji, revealed this in a virtual media conference on the presentation of the NSIA’s 2020 Audited Financial Statements and Performance Review, yesterday, in Abuja.

Orji attributed the growth, in spite of the challenges of Covid-19, to strong performance from its investments in international capital markets, improved contribution from subsidiaries and affiliates and exchange gain from foreign currency positions.

He added that the authority achieved 33 per cent growth in net assets amounting to N772.75billion as against N579.54billion in the previous year.

He also said that the NSIA received additional contribution of $250million and provided first stabilisation support of $150million from the Stabilisation Fund to the Federal Government.

According to him, the authority also received $311million from funds recovered from late Gen Sani Abacha from the US Department of Justice and Island of Jersey.

He said that the funds were deployed towards the Presidential Infrastructure Development Fund (PIDF) projects of Abuja-Kaduna-Kano Highway, Lagos-Ibadan Expressway and the Second Niger Bridge.

“The 2020 fiscal year was characterised by high volatility and global market uncertainty on account of Covid-19 in the first half.

“However, the authority’s strategic investments generated respectable returns in spite of the impact of Covid-19.

“Notably, NSIA has invested in various private equity and venture capital investment funds to tap into the high-growth sectors.

“NSIA expects that the outlook for 2021 would be positive, however, we expect bouts of volatility as global markets adjust and recover from the impact of the pandemic.”

Speaking on some of the projects and interventions the organisation was involved in; he said that it entered a strategic collaboration with BBVGH for cancer treatments.

Orji said that the group was helping in training personnel and bringing in lower costs cancer medicine for those who were in the NSIA-Lagos University Teaching Hospital Cancer Centre.

He also said it had operationalised the NSIA-Kano Diagnostic Centre and the NSIA-Umuahia Diagnostic Centre which were developed as first-rate diagnostic centres with individual investments of $5.5million each.

For the power sector, Orji said that the NSIA was building a 10 megawatts solar power plant in Kano, which presently was the single largest in Nigeria.

“Expected to be completed at the end of 2022 at a cost of about $15million, the plant would link industrial customers to an additional source of power supply,” he said.

He said it was also setting up a platform with International Development Finance Institutions (DFIs) to allow it spread across various parts of the country.

In agriculture, through the Presidential Fertiliser Initiative (PFI), it produced 12million 50 kilogram bags of NPK 20:10:10 equivalent in 2020.

This, he said, brought the total production since inception to over 30 million 50kg bags equivalent, while the number of participating blending plants increased to 44 from less than seven at inception.

Orji added that the NSIA completed construction of 3,000 hectares Panda Agric Farm in Nasarawa, the first project of the UFF-NSIA partnership.

He said that the NSIA launched Nigeria’s Innovation Fund to address investment opportunities within Nigeria in Information technology.

According to him, with immediate pipeline it includes data networking, data centres, software and services as well as Agri-tech and Bio-tech.

Speaking on gas industrialisation, he said significant progress had been made on developing the Ammonia and Diammonium phosphate production plants in partnership with OCP.

For 2021, he said the organisation was looking forward to completing the concession, capital raise and operationalisation of the Lagos-Ibadan Expressway, Second Niger Bridge and Abuja-Kaduna-Kano Highway.

“In the Future Generations Fund, we expect to allocate more capital to venture capital, global equity markets and an increasing exposure to European equities where we had been under exposed in 2020.

“NSIA believes that broad opening of the markets will provide a comprehensive lift to equities. Although NSIA believes the market is unlikely to repeat some of the performance of 2020.

“It is more likely that a broader market recovery will occur with economies opening unlike the case in 2020 in which technology stocks drove market performance.”

The NSIA was set up to manage funds in excess of budgeted hydrocarbon revenues.

Its mission is to play a leading role in driving sustained economic development for the benefit of all Nigerians.

This would be through building a savings base for the Nigerian people, enhancing the development of Nigeria’s infrastructure and providing stabilisation support in times of economic stress.

 

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HYPREP Inducts 100 Ogoni Youths For Creative Arts Training

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The Hydrocarbon Pollution Remediation Project(HYPREP) has inducted and given orientation to 100 Ogoni youths for training on Creative Arts. The beneficiaries were drawn from Khana, Gokana, Tai and Eleme Local Government Areas of Rivers State.

The induction and orientation ceremony, which took place at the CRAB of the Department of Theatre Arts of the University of Port Harcourt on Wednesday, was a prelude to the training proper, billed to commence next Tuesday.

As usual, HYPREP issued undertaking forms to the trainees, for them to complete and submit as a guarantee that they would subject themselves to the requirements of the programme as well as be of good behaviour throughout the four-month duration of the training.

HYPREP also announced that it would pay N150,000 to each of the beneficiaries monthly, as transport and feeding allowance, stressing, however, that only those who fully participate in the training would be entitled for the allowance.

Speaking at the event, the Project Coordinator of HYPREP, Prof Nenibarini Zabbey, welcomed the trainees to the programme, saying, HYPREP’s projects are evolving and that one thing that is happening today is that the Project has gotten leadership right, by making promises and keeping those promises.

According to him, the Project had equally promised to move away from rudimentary skills acquisition to high impacts acquisition levels, which it has kept today by sponsoring the training on Creative Arts.

He noted that in planning its livelihood programmes for Ogoni youths, HYPREP has taken time out to look for skills that would add value to the lives of the beneficiaries.

Zabbey, who was represented at the event by the Director of Technical Services, Prof Damian-Paul Aguiyi said by packaging the Creative Arts training, it was expected that the Ogoni people would have their own version of Nollywood known as Ogoniwood just as Nigerians are familiar with Hollywood, Bollywood, Kannywood and Nollywood.

To achieve this goal, the Project Coordinator explained that it was the reason for choosing a reputable establishment like Halibiz Consult Limited, to partner with the Department of Theatre Arts of the University of Port Harcourt, which he described as one of the most prestigious in the Niger Delta, for the training of the beneficiaries.

He also indicated that in doing this, HYPREP was desirous of going for talents that would help the Ogoni people grow in the film industry, and urged the beneficiaries to take the training seriously.

Zabbey equally enjoined the trainees to put in their best so that in the next three to five years, they would carve a niche for themselves and become forces to reckon with in the film industry.

On her part, HYPREP’s Head of Sustainable Livelihood, Mrs Josephine Nzidee said HYPREP does what it says it will, stressing that the process of training Ogoni youths on specialised skills started three years ago.

According to her, the selection process for the training was rigorous and transparent, and was carried out by renowned actors actresses.

She disclosed that the training consists of three major aspects, which include acting, script writing and make-up, while Nollywood actors like Charles Nnoje, Ngezu J. Ngezu and award-winning make-up artist, Jude Odo would be on hand to drill and groom the beneficiaries.

Mrs Nzidee noted that the programme is a specialised training that does not have anything like starter packs but that it is purely a professional certification programme that would launch the beneficiaries into the Nollywood industry in Nigeria.

According to her, the Creative Arts training is one of the four specialised trainings organised by HYPREP to ensure that the Ogoni people are well positioned in vital industries like Aviation, Maritime, Creative Arts and Mechatronics.

She said the last of such trainings on Mechatronics would take place in the coming months, and urged the beneficiaries to take the training seriously so as to put the Ogoni people on the Nollywood map.

She further indicated that while Charles Nnoje and Ngezu J. Ngezu would take the beneficiaries on the practical aspects, Jude Odo would take them on the make-up aspects.

Also speaking, the External Relations Manager of Halibiz Consult Limited, Alabo Experience Douglas said his company gives much premium to standard and quality, and assured that the firm would give the trainees value for the money spent on the programme.

While charging the beneficiaries to be dedicated and punctual, he stressed the need for them to approach the programme with the mindset of being empty so that at the end of the day, they would benefit maximally.

On his part, the Head of the Theatre Arts Department of the University of Port Harcourt, Dr Ovunda Ihunwo said the CRAB is an acronym for Creative Review of Arts and Books, stressing that it was named by renowned playwright, Prof Ola Rotimi.

According to him, the CRAB had nurtured, groomed and produced Nollywood actors and actresses like Bobmanuel Udokwu, Ejike Asiegbu,Francis Duru, Hilda Dokubo, Monalisa Chinda, Julius Agwu, and a host of others, assuring the beneficiaries that they were on fertile environment to hone their talents.

He noted that symbolically, the crab is a nutritious seafood common in the Niger Delta, and reiterated the need for the beneficiaries to come empty for the training, as it were.

Ihunwo disclosed that the theory classes of the programme would run for three weeks while the fourth week would be for the master classes, and urged the trainees to avail themselves of the opportunity to make a difference by telling the Ogoni story, which he described as inexhaustible by themselves, in order to put Ogoni on the map.

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Nasarawa Varsity Student Commits Suicide

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A 23-year-old student of Nasarawa State University identified as Jatau Rilokwah, has been reportedly found dead in the university’s senior staff quarters.
A counter-insurgency expert, focused on the Lake Chad region, Zagazola Makama, disclosed this on his X handle on Tuesday.
According to him, the discovery was made on April 27, 2025, by a security officer at the university, Emmanuel Gyawo.
He stated that Gwayo was directed by Prof. Shedrack Jatau to check on his son upon arriving at the residence, and he found Rilokwah hanging from the ceiling.
“Professor Jatau, who was reportedly out of the State at the time, was informed of the incident. A team of police detectives, led by the Divisional Crime Officer of Angwan Lambu, was dispatched to the scene.
“The body showed no signs of violence, and no suicide note was found. Rilokwah was rushed to the Federal Medical Centre in Keffi, where he was confirmed dead by a medical doctor,” he further stated.
He added that the student’s corpse had been deposited in the hospital morgue.
He also quoted police sources as saying that investigations were ongoing to determine the circumstances surrounding the incident.

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Ogun, Nike Art Gallery Set To Transform Olumo Rock

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The Ogun State Government has partnered with Nike Art Gallery to establish a new exhibition space at the Olumo Rock Tourist Centre in Abeokuta, a move Governor Dapo Abiodun says is aimed at boosting annual tourist visits from 20,000 to over 100,000.
Abiodun disclosed the plan on Wednesday while receiving the founder of the Nike Art Gallery, Chief (Mrs) Nike Davies-Okundaye, at his office in Oke-Mosan, Abeokuta.
“I went to Olumo Rock about a month ago and I decided that we needed to do something about restoring Olumo Rock to its old glory. From statistics, Olumo Rock hosts about 20,000 people a year in its current state, and I felt that we could increase that to at least ten times,” the governor said.
As part of the plan, an events hall within the tourist centre will be repurposed as a permanent gallery operated by Nike Art Gallery.
“I told them to shut it down. Practically, we want to bring it down and turn it into a gallery for you to use as an exhibition gallery,” he told Davies-Okundaye.
He added that the gallery will be ready before the National Sports Festival in May, when the State will host about 15,000 visitors.
“I want them to be able to see our tourist sites,” he said, listing attractions such as the Olusegun Obasanjo Presidential Library, the Ransome-Kuti family home, and the Adire market among key heritage spots to be showcased.
Highlighting Ogun’s improved infrastructure, the governor said, “Now that we’ve succeeded in having the intra and inter-state roads in place, you can come to Ogun State by rail; you can come by air. We’ve constructed one of the best airports in Nigeria, and very soon, you will be able to come by sea.”
Davies-Okundaye, in her remarks, praised the state’s efforts to promote tourism and pledged to use the new gallery to attract global attention.
“This gallery will bring many Heads of State. The one I opened in Abuja already has more than 10 Heads of State, including those from South Korea and the Czech Republic. The same will happen here,” she said.
She also applauded the Governor for his commitment to the Adire fabric industry.
“Adire is all over Nigeria, but Ogun has been promoting Adire for over 50 years. Today, the only cloth we can call our own is called Adire. This is what we can sell to the Europeans,” she said.
Abiodun reaffirmed his administration’s backing of the Adire industry, citing policies such as the Adire Ogun Digital Marketplace, compulsory wearing of Adire in the state, and provision of solar-powered production equipment to support artisans.
He also revealed plans to open a creative arts and entertainment village in partnership with Bolanle Austen-Peters, expected to be completed within two months.

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