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NSIA gets new executive directors, commits to more investments

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As President Muhammadu Buhari appoints two executive directors for Nigeria Sovereign Investment Authority (NSIA), the company on Wednesday pledged increased commitment to infrastructure development.

Mrs Stella Ojekwe-Onyejeli, Chief Operating officer of NSIA was reappointed for a second term while Mr Aminu Umar-Sadiq deputy Head of Direct Investments elevated to the position of executive director.

A statement from NSIA Communications Advisor, Tope Olubiyi, the appointments follow the realignment in 2018 of NSIA’s strategy with a pivot towards domestic infrastructure, as reflected in the allocation of 50% of future contributions to infrastructure investments.

Olubiyi said in 2018, NSIA Board established a Direct Investment Committee for the first time for review and oversight of investments in core domestic infrastructure sectors such as motorways, agriculture, healthcare, power, and education.

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Recent NSIA initiatives that reflect this increased focus on domestic infrastructure include the Presidential Infrastructure Development Fund (PIDF) which will fast-track the completion of five infrastructure projects of national priority, namely: Abuja-Kano Roadway, Second Niger Bridge, East-West Roadway, Lagos-Ibadan Expressway, and Mambilla Hydroelectric Power Plant.

NSIA is also galvanizing investments in tertiary healthcare. The Authority invested in the development of the LUTH Cancer Treatment Centre and is developing advanced diagnostic centres in AKTH, Kano and FMCU, Umuahia.

The NSIA also co-sponsored the establishment of InfraCredit, a specialized financial guarantor that facilitates the financing of domestic infrastructure assets by domestic pension funds.

The Authority remains committed to leading the development of strategic infrastructure initiatives in Nigeria.

“These appointments strengthen the Authority’s executive team and are consistent with our focus on maintaining a broadly representative leadership team and workforce so as to ensure that the institution remains a key participant in Nigeria’s economic transformation”, said Mr. Jide Zeitlin, Chairman, NSIA Board of Directors.

He continued, “Both appointees are committed professionals who, along with other talented colleagues, have been instrumental in NSIA’s development.”

The post NSIA gets new executive directors, commits to more investments appeared first on Tribune Online.

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