The Nigeria Sovereign Investment Authority (NSIA) has reported a significant slump in its 2025 financial performance, with profit plunging by 91% as the impact of previous foreign exchange windfalls faded and underlying investment income softened.
In its 2025 Special Purpose US Dollar Consolidated and Separate Financial Statements, the Authority’s profit fell to $107.03 million from a staggering $1.24 billion recorded in 2024.
The sharp reversal highlights how much NSIA’s prior earnings were buoyed by macroeconomic distortions –particularly exchange rate movements– rather than sustained operational growth.
Established to manage excess crude oil revenues on behalf of the Federal Government, NSIA has long played a stabilisation role in Nigeria’s financial architecture.
However, the latest results show a significant recalibration in earnings, reflecting both structural changes and the unwinding of exceptional gains recorded in the previous year.
A closer look at the figures reveals a broad-based decline in income and profitability metrics. Total operating income dropped sharply to $137.97 million in 2025 from $1.3 billion in 2024. Similarly, operating profit fell to $127.8 million from $1.2 billion, underscoring the scale of the contraction.
