President Muhammadu Buhari has approved the appointment of two new Executive Directors for the Nigerian Sovereign Investment Authority (NSIA) in his quest to take the establishment to the next level.
The appointees are Mrs. Stella Ojekwe-Onyejeli, the Chief Operating Officer who was reappointed as Executive Director for a second term. The second person is Mr. Aminu Umar-Sadiq, who is NSIA’s Deputy Head of Direct Investments, appointed as Executive Director.
The appointments, according to NSIA Chairman, Board of Directors, Mr. Jide Zeitlin, follow the realignment in 2018 of NSIA’s strategy with a pivot towards domestic infrastructure, as reflected in the allocation of 50 per cent of future contributions to infrastructure investments. In 2018, the NSIA board established for the first time a Direct Investment Committee for review and oversight of investments in core domestic infrastructure sectors such as motorways, agriculture, healthcare, power and education.
He revealed recent NSIA initiatives that reflected the increased focus on domestic infrastructure, including 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 galvanising 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 specialised 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.
