NEWS AGENCY OF NIGERIA
Momoh, ICSAN seek sustainable devt. in media, creative industry
Economy/Business

Momoh, ICSAN seek sustainable devt. in media, creative industry

218 total views today

By Rukayat Moisemhe

The Chairman, Channels Media Group, Dr John Momoh, and the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) have called for sustainable development in the country’s media and creative industry.

They made the call at the ICSAN Creative and Media Industries Workshop on Thursday in Lagos.

Momoh stressed the importance of securing the future of one of Nigeria’s most diverse sector, noting that the creative and media industries were powerful engines of economic growth and national identity.

He said both industries must move from potential and inspiration to institutions, by building a strengthened ecosystem that supported it.

Momoh stated that to spur the business angle of the industries, investment from government and private capital both local and global were critical.

“There must also be policies that protect the sector and young creators with supporting digital, legal and educational infrastructure.

“Sustainable growth begins with people and we must empower the next generations of creatives, equip the youths with not just story telling but design, ethical and governance grounding,” he said.

He stressed that Nigeria must be at the fore front of these emerging technologies by making creativity a national assets against being just a passion.

He also advocated the need to sustainably strengthen media independence and integrity.

“This is a call to action as we declare industries that thrive on public trust as your brand is only as strong as your values,” he said.

President, ICSAN, Mrs Funmi Ekundayo, said the event was to generate ideas on how the country’s creative and media industry could consolidate its gains and maintain its fledgling success on sustainable basis.

Ekundayo noted that Nigeria had witnessed phenomenal growth in the industry.

According to her, a sizeable number of youths used their talents for personal success and to contribute to the Gross Domestic Product of the country.

She stated that opportunities abound in the industry with its wide range of economic activities focused on generating and exploiting knowledge and information for innovation and economic growth.

“According to the PwC Global Entertainment and Media Outlook 2024-28, Nigerian media industry, encompassing film, music, art, entertainment, and content creation sectors, is the fastest-growing creative industry globally.

“Together, the motion picture and music recording industries contributed approximately 154 billion naira (roughly 96 million euros) to Nigeria’s GDP in 2023.

“The industry’s growth has yet to reach its peak, with PwC projecting it will generate $14.8 billion in revenue by the end of 2025,” she said.

Ekundayo said the institute was committed to driving the expansion of the frontiers of knowledge in the creative and media sector to maximise the potential of the country’s talented youths.

She said ICSAN would continually support young people and help channel their creative energy into national productivity pool.

Dr Nosike Agokei, a governance expert, stressed the importance of good corporate governance and ethical practices in promoting and managing successful ventures in the creative and media industries.

Agokei said effective corporate governance system in both industries had many advantages such as stakeholders’ protection, risk mitigation, accountability, compliance and others.

He stated that sensationalism, privacy, and conflicts of interest were all important ethical considerations for the media.

“By avoiding sensationalism, respecting privacy, and being transparent about potential conflicts of interest, the media can uphold high ethical standards and contribute to a well-informed and democratic society,” he said.

Mrs Cheta Nwabuike, Certified Governance Practitioner, said the journey for transforming the country’s creatives and media industry into Environmental, Governance and Sustainability (ESG) compliant ventures must begin.

According to her, businesses and stakeholders within the global creative and media industries were integrating ESG principles into their strategies, operations, and storytelling. (NAN)

Edited by Chinyere Joel-Nwokeoma

NEPC harps on cluster formation for export development
Economy/Business

NEPC harps on cluster formation for export development

208 total views today
By Victor Nwachukwu
The Nigerian Export Promotion Council (NEPC) has underscored the importance of forming product and area-based clusters to boost the development of the export sector.
NEPC’s Executive Director, Mrs Nonye Ayeni, said this at a seminar on non-oil export development held in Owerri.Ayeni spoke on the theme, “Cluster Development for Non-Oil Export Growth in Imo State”.

She was represented by the NEPC Coordinator in Imo, Mr Anthony Ajuruchi.

The executive director highlighted the need for exporters to organise themselves into clusters.

She said that operating in clusters would enhance the export business by enabling better negotiation with potential buyers, not as individuals but as a collective.

According to Ayeni, clusters help diversify market offerings while allowing exporters to specialise in specific products, thereby strengthening the commodity value chain.

“This programme has brought together key players in the export sector of Imo,” she said.

“With dedicated clusters under the state’s One State One Product initiative, products such as oil palm, pineapple, cashew, and cassava can thrive more competitively in the export market.”

The News Agency of Nigeria (NAN) reports that the seminar had over 40 participants, including representatives from the Imo Ministries of Commerce, Trade, and Industry.

Also in attendance were representatives from the Imo Chapter of the National Palm Produce Association and the National Cashew Association of Nigeria (NCAN).  (NAN)(www.manners.ng)

Edited by Kevin Okunzuwa
Political will key to 24-hour Port operations – Nweke
Economy/Business

Political will key to 24-hour Port operations – Nweke

202 total views today
By Aisha Cole
Only political will can achieve 24-hour port operations, says a former President of the Nigeria Association of Government Approved Freight Forwarders (NAGAFF), Dr Eugene Nweke.

Nweke stated this in Lagos during the Fifth Town Hall Meeting, organised by JournalNG.

According to him, 24-hour port operations is achievable if the government issues a clear directive to this effect.

He added that a regulatory agency should be assigned to monitor and evaluate port operations for effective supervision.

“When responsibilities are clear, operators are guided. It’s not enough for government to issue orders without monitoring or enforcement,” he said.

Nweke stressed that political will is crucial for Nigeria to realise round-the-clock port activities.

He urged government agencies to treat port transformation as a priority and for stakeholders to see it as essential.

According to him, collaboration among stakeholders is key to achieving full-day port operations.

He said bottlenecks delaying the process must be addressed promptly, with sanctions where necessary.

Nweke added that ports are meant for commercial activity, and proper infrastructure must replace unnecessary human involvement.

He called on the government to upgrade port infrastructure to improve efficiency and user experience.

Also speaking, the Chairman of the Nigeria Ports Consultative Council (NPCC), Mr Bolaji Sumola, said 24-hour port operations are now a necessity.

Sumola said that a strategic approach based on technology, sustainability, and alignment would make Nigerian ports more efficient and secure.

As NPCC Chairman, he reaffirmed his commitment and called on all stakeholders to support the transformation.

However, Assistant Comptroller of Nigeria Customs Service (NCS), Abass Oladepo, said customs already operates a 24-hour system.

Oladepo said the PTML Command had introduced two-hour cargo clearance, with average port clearance under six hours annually.

The town hall meeting, B’Odogwu, was aimed at educating stakeholders about the Customs transformation programme.

Importers were advised to make honest declarations to ensure quicker cargo clearance, possibly within minutes.

Managing Director of ENL Consortium, Mr Mark Walsh, urged Nigerian banks to speed up port-related payments.

He praised the Federal Government and NPA for port modernisation but stressed the need for constant lighting at terminals.

Walsh said proper lighting was crucial for night-time security and to reduce reliance on generators.

Mr Ahmed Ogunsola, General Manager of the Trade Modernisation Project (TMP), urged joint efforts to resolve issues delaying 24-hour operations.

He said TMP works with NCS to build capacity and provide technology for efficient cargo clearance.

Ogunsola affirmed that collaboration among port users makes round-the-clock operations attainable.

He added that TMP had an agreement with the Federal Government to provide 67 scanners, five of which had arrived.

In his opening speech, JournalNG Publisher, Mr Ismail Aniemu, said the forum helped generate policy guidance through stakeholder engagement.

Aniemu said Nigeria must convert its ports into smart ports, with experts ready to support the initiative.

He said that some port users already operate 24 hours, and such efforts must be sustained collectively. (NAN)(www.nannews.ng)

Edited by Kamal Tayo Oropo
From L-R, Managing Director ENL Consortium, Mr Mark Walsh, representative of the Nigeria Ports Authority, the General Manager, Trade Modernization Project, Mr Ahmed Ogunsola and the Assistant Comptroller of Customs, Mr Abass Oladepo during the 5th edition of the Town-Hall meeting on bridging the gaps to actualise 24-hour port operations held in Lagos on Thursday.
Rector harps on building insurance resilience amid uncertainty
Economy/Business

Rector harps on building insurance resilience amid uncertainty

166 total views today

 

 

 

 

 

 

 

 

By Taiye Olayemi

 

Dr Chizoba Ehiogu, Rector of the College of Insurance and Financial Management, has unveiled adaptive strategies to enhance insurance companies’ resilience in times of uncertainty.

 

 

 

Speaking at the 2025 Business Day Insurance Conference on Wednesday in Lagos, Ehiogu stressed the importance of resilience amid weak consumer confidence, persistent inflation, and currency instability.

 

 

 

Addressing the theme, ‘The Business of Insurance: Building Resilience in the Face of Economic Uncertainty’, she urged insurers to explore strategic alliances.

 

 

 

She recommended partnerships with banks, fintech firms, and reinsurers to extend reach, share risks, boost resources, grow market share, and improve credit ratings.

 

 

 

Ehiogu also advised insurance firms to reassess existing portfolios frequently and adjust offerings in line with current economic realities.

 

 

 

“Regularly evaluate products to meet shifting needs. During hardship, offer affordable options to attract cost-conscious customers and boost policy renewals.

 

 

 

“Enhance customer journeys by improving digital interactions and providing personalised services tailored to individual preferences and behaviours,” she said.

 

 

 

She further encouraged the use of data analytics to refine products, improve engagement, foster loyalty, and enhance customer retention.

 

 

 

Ehiogu highlighted the role of human capital and leadership in navigating industry challenges and driving sustainable growth.

 

 

 

She emphasised retaining skilled employees, noting that a motivated workforce is vital for successful adaptation and long-term stability.

 

 

 

“Focus on employee well-being and offer incentives to reduce turnover and maintain essential skills,” she added.

 

 

 

She also stressed the need for resilient leadership capable of managing disruptions and swiftly addressing emerging risks.

 

 

 

“Strong leaders ensure agility, adaptability, and guide strategic responses to enhance market competitiveness,” Ehiogu said.

 

 

 

She recommended attracting top talent in technology and digital innovation through competitive packages and career development opportunities.

 

 

 

On financial performance, Ehiogu noted the importance of sustaining solvency and profitability amid inflation and forex volatility.

 

 

 

“This can be done through strict cost control, especially in claims and administrative processes.

 

 

 

“Streamline operations and use technology to reduce inflationary pressures while supporting profitability and efficiency,” she said.

 

 

 

She added that improving working capital and accelerating cash conversion would also help maintain solvency.

 

 

 

Mr Aminu Tukur, Vice Chairman of Noor Takaful Insurance Ltd., also addressed the event and called for deeper insurance penetration.

 

 

 

He noted that conventional insurance still struggles to reach the grassroots due to trust issues, religious concerns, and affordability challenges. (NAN) (www.nannews.ng)

 

Edited by Kamal Tayo Oropo

LCCI tasks FG on intensified diplomatic efforts on U.S. tariff impositions
Economy/Business

LCCI tasks FG on intensified diplomatic efforts on U.S. tariff impositions

171 total views today

By Rukayat Moisemhe

The Lagos Chamber of Commerce and Industry (LCCI) has urged the Federal Government to intensify diplomatic efforts through its relevant ministries to address the United States (U.S.) tariff impositions on the country.

Mr Gabriel Idahosa, President, LCCI, gave the advice at a news conference on the chamber’s quarterly state of the economy on Thursday in Lagos.

Idahosa stated the importance of seeking clarity on the rationale for the tariffs and explore pathways for reversal or renegotiation with respect to Nigeria ban on 25 import items from the U.S..

He noted that with escalating tariff wars between the U.S. and the rest of the world, there may soon be higher inflation rates across many economies that were directly affected by the tariffs.

The LCCI president observed that with oil and gas purchases by the U.S. being exempted from the 14 per cent tariff on Nigeria, the economy might record limited impact from the tariffs.

He, however, stated that the tariffs had driven oil prices down, indicating a challenge to Nigeria’s foreign exchange earnings from crude.

“With Trump’s tariffs threatening Nigeria’s N323.96 billion in 2024 non-oil, non-energy exports to the U.S., we believe a strategic, measured, and proactive response from the Nigerian government is imperative.

“Nigeria must reduce overdependence on a few trade partners by expanding bilateral trade agreements with emerging economies in Asia, Latin America, and Africa.

“Intra-African trade under the African Continental Free Trade Area (AfCFTA) should be aggressively promoted,” he said.

Idahosa also urged the Federal Government to incentivise local production and value addition in agriculture, mining, and manufacturing.

He stated that exporting commodities in their primary state must give way to processed finished Nigerian goods that commanded higher global value.

He also recommended an urgent review of Nigeria’s national trade policy to reflect emerging global realities.

According to him, the country’s trade, tax, and customs regimes must be modernised to align with World Trade Organisation (WTO) rules and safeguard Nigerian interests.

Addressing inflation, Idahosa noted that in spite of the rebasing of the Consumer Price Index (CPI), inflation remained significantly high.

He urged government and monetary authorities to intensify efforts at controlling inflation through a mix of fiscal, monetary and trade policies.

He said that with the global oil market facing multiple uncertainties and prices trending downwards, government must develop a fiscal response to address potential revenue gaps in the budget.

Idahosa added that government must address the trajectory of the country’s debt and fiscal indiscipline, particularly on the expenditure side.

Mr Ladi Smith, Vice president, LCCI, urged government on greater attempts to protect the various agricultural zones in the country.

He stressed that government should be encouraged to make greater security in areas that surround the nation’s food baskets to further drive down inflation and impact the populace.(NAN)

Edited by Olawunmi Ashafa

Stock market gains N240bn on buying interest
Economy/Business

Stock market gains N240bn on buying interest

177 total views today
By Taiye Olayemi

The Nigerian Exchange Ltd. (NGX) closed on a positive note on Thursday, as the stock market gained N240 billion, driven by strong investor interest in select equities.

The market capitalisation rose by N240 billion or 0.37 per cent to close at N65.499 trillion, up from N65.259 trillion recorded on Wednesday.

Similarly, the All-Share Index (ASI) appreciated by 381.93 points or 0.37 per cent to close at 104,233.81, compared to 103,851.88 in the previous session.

The rally was largely supported by buying interest in stocks such as ABBEY Mortgage Bank, Nigerian Breweries, ABC Transport and others.

Market breadth was flat, with 24 gainers and 24 losers.

On the gainers’ chart, ABBEY Mortgage Bank soared by 9.94 per cent to close at N8.96 per share.

Nigerian Breweries rose by 9.86 per cent to close at N36.20 per share.

ABC Transport also grew by 9.23 per cent, closing at N1.42 per share.

Livestock Feeds increased by 9.20 per cent to close at N9.50 per share.

Ecobank Transnational Incorporated gained by 8.94 per cent to close at N29.25 per share.

Conversely, Sunu Assurance dipped by 9.91 per cent to close at N5.00 per share.

Ellah Lakes dropped by 9.76 per cent, closing at N3.05 per share.

Cornerstone declined by 9.44 per cent to close at N2.59 per share.

Sovereign Trust Insurance also fell by 9.18 per cent to close at 89k per share.

Universal Insurance lost by 7.55 per cent, closing at 49k per share.

A total of 376.29 million shares worth N7.905 billion were exchanged across 11,204 deals.

This is compared to 351.65 million shares worth N13.710 billion that was traded in 12,141 transactions earlier on Wednesday.

Transactions in the shares of Universal Insurance topped the activity chart with 89.266 million shares worth N44.368 million.

Fidelity Bank followed with 49.528 million valued at N915.904 million while Access Corporation transacted 32.856 million shares worth N715.32 million.

Zenith Bank sold 15.57 million shares valued at N685.44 million and Nigerian Breweries traded 15.418 million worth N555.57 million. (NAN)(www.nannews.ng)

Edited by Shuaib Sadiq/Olawunmi Ashafa
PEBEC boss restates readiness to work with MDAs
Economy/Business

PEBEC boss restates readiness to work with MDAs

177 total views today

MDAs

Abuja, April 17, 2025 (NAN) Ms Zahrah Audu, Director-General, Presidential Enabling Business Environment Council (PEBEC), has reiterated the council’s readiness to work with heads of government agencies to enhance service delivery.

Audu stated this in a communiqué at the end of a retreat for Heads of Ministries, Departments, and Agencies (MDAs), on Thursday in Abuja.

She said that this was aimed at improving their level of service delivery to align with the council’s goal of creating a more enabling business environment.

The director-general also called for enhanced synergy among MDAs, to ensure the ease of doing business in the country.

The Secretary to the Government of the Federation (SGF), Sen. George Akume and Vice President Kashim Shettima commended Audu’s performance and commitment to service.

The News Agency of Nigeria (NAN) reports that the retreat is part of the Federal Government’s efforts to improve the ease of doing business in the country.

PEBEC, established in July 2016 by the federal government to oversee Nigeria’s business environment intervention, is tasked with the dual mandate of removing bureaucratic and legislative constraints to doing business.

It is also mandated to deliver Nigeria’s business environment reform with the dual mandate to remove bureaucratic and legislative constraints to doing business. (NAN) (www.nannews.ng)

Edited by Deji Abdulwahab

NAICOM urges tech-driven rural insurance growth
Economy/Business

NAICOM urges tech-driven rural insurance growth

184 total views today

 

 

 

By Taiye Olayemi

 

The National Insurance Commission (NAICOM) has urged insurance stakeholders to unite in using technology to deepen rural insurance penetration across Nigeria.

 

 

 

Mr Olusegun Omosehin, NAICOM’s Commissioner for Insurance, made the call on Wednesday at the 2025 Business Day Insurance Conference in Lagos.

 

 

 

The conference was themed: ‘Resilience and Growth in Uncertainty: Charting the Path for Nigeria’s Insurance Industry’.

 

 

 

Omosehin was represented by Mr Ekerete Ola Gam-Ikon, NAICOM’s Deputy Commissioner for Finance and Administration.

 

 

 

He stressed the need for collaboration among insurers, regulators, and policymakers to foster growth within the insurance industry.

 

 

 

Omosehin proposed three strategies to deepen rural penetration: innovate for inclusion; enhance regulatory systems; and promote an insurance culture.

 

 

 

He said, “Technology must be leveraged to reach the underserved in rural areas, informal sectors, and younger populations.

 

 

 

“Microinsurance, digital platforms, and inclusive products should shape our future approach.

 

 

 

“As we grow, we must build accountable systems that use data, protect consumers, and prioritise transparency.

 

 

 

“True penetration means cultural adoption. Insurance must be seen as a tool for stability, not a burden.”

 

 

 

He urged stakeholders to unite for a future where every Nigerian can confidently say, “I am covered.”

 

 

 

The Commissioner highlighted insurance as vital to building national resilience in uncertain times.

 

 

 

He said, “The conference’s theme is timely, reflecting today’s risks and emerging opportunities.

 

 

 

“This event shows our shared commitment to advancing Nigeria’s insurance industry in a complex world.”

 

 

 

He noted the sector faces challenges like geopolitical instability, climate risks, digital shifts, and economic changes.

 

 

 

“Still, one thing is clear – insurance plays a crucial role in national resilience,” he stated.

 

 

 

He added, “All stakeholders must act. This industry touches all sectors and is the largest employer in Nigeria.”

 

 

 

Omosehin outlined NAICOM’s regulatory efforts and its partnerships with government and industry to increase insurance reach.

 

 

 

Mr Tayo Fagbule, Editor at BusinessDay Media Ltd., said the conference aimed to push penetration beyond 1 per cent.

 

 

 

He said the industry must become a cornerstone of economic stability, inclusive growth, and development.

 

 

 

“Through this platform, we seek ideas that will become impactful policies, products, and partnerships,” Fagbule stated.

 

 

 

Meanwhile, Rosetta Aryeetey of Leadway Assurance Plc stressed demystifying insurance to boost public understanding and awareness. (NAN) (www.nannews.ng)

 

Edited by Kamal Tayo Oropo

Access Holdings reports N642bn profit in 2024  
Economy/Business

Access Holdings reports N642bn profit in 2024  

160 total views today

 

 

 

 

By Taiye Olayemi

Access Holdings Plc. says it generated N642.22 billion as profit for the year ended Dec. 31, 2024.

 

 

 

This is a 3.7 per cent increase from the N619.32 billion it generated in 2023.

 

 

 

The company made this known in a corporate disclosure through the Nigerian Exchange Group on Wednesday in Lagos.

 

 

 

It also proposed a final dividend of N2.05 per ordinary share on its proposed 53,317,838,433 ordinary shares of 50 kobo each.

 

 

 

The Profit before Tax (PBT) increased to N867.02 billion, up from the N729 billion recorded a year earlier.

 

 

 

The group also reported a surge in gross earnings of N4.878 trillion from the N2.594 trillion reported in 2023.

 

 

 

It equally recorded N3.760 billion total equity in the year under review, an increase from N2.185 billion recorded in 2023.

 

 

 

Its earnings per share remained at N1, 671 for the two years running. (NAN) (www.nannews.ng)

 

 

Edited by Chidi Opara

 

NSIA posts net returns of N1.88trn in 2024
Business

NSIA posts net returns of N1.88trn in 2024

184 total views today

By Okeoghene Akubuike

The Nigeria Sovereign Investment Authority (NSIA) says it posted a Net return of N1.88 trillion for Financial Year 2024, up from the N1.18 trillion recorded in 2023.

The Managing Director/CEO of NSIA, Aminu Umar-Sadiq, disclosed this while presenting its 2024 Earnings at a Media Engagement on Wednesday in Abuja.

Umar-Sadiq said the NSIA showed strong financial performance in spite of the volatile global economic landscape.

He said the authority was able to achieve this through a dedicated and committed team that adopted four tactical and change strategies in 2024.

“2024 was special because we found a way to enhance a set of 2023 results that were remarkable.

“We went from Net returns of N1.18 trillion in 2023 to N1.885 trillion in 2024. We will continue to wonder how we will top that in 2025 but with the combination of teams.

“On tactical basis, we have done four things right.

“Firstly, is efficient balance sheet optimisation. We continue to be defensive, particularly on our stabilisation and future generation funds.

“Secondly, we focused on sustainable earning on the infrastructure side; thirdly, we focused on pioneering infrastructure investment; and lastly, cost efficiency.”

Umar-Sadiq said in 2024, the authority inaugurated the Ministry of Health Oncology initiative, aimed at building one world-class oncology centre in each zone on behalf of the Federal Government.

He said the NSIA recorded a 150 per cent increase in returns on Core Total Comprehensive Income(TCI) growth in 2024.

“ We had N165 billion in terms of Core TCI in 2003 and we are at N407.9 billion in 2024.

“ This increase of 150 per cent on core basis, when you strip out the impact of foreign exchange gains and derivative valuation gains, you see core basis increased our returns by 150 per cent.

 

“That goes to show the strength of the institution not only on the operational or infrastructure side but more importantly on the financial performance side.“

The managing director said in 2025, the NSIA would drive three key things, which include driving certain NSIA platforms, augmentation of its capital(growing on a Naira and Dollar basis ) and core income growth.

Victor Sesere, Chief Financial Officer, NSIA, said the operating income of the authority grew by 58 per cent on a year-on-year basis, from N1.176 trillion in 2023 to N1.853 trillion in 2024.

Sesere said the operating income growth was driven by strong performance across major income lines, with both market-sensitive and stable revenue lines achieving above single-digit increases.

He said the authority recorded a 59 per cent increase in its Profit After Tax in 2024 on a year-on-year basis from N1.185 trillion in 2023 to N1.886 trillion in 2024.

“Total assets grew by over 90 per cent, primarily driven by increased investment in securities and the revaluation of foreign currency-denominated assets.

“ In spite of the impact of foreign exchange gains on this year’s TCI, NSIA achieved its strongest performance in Core TCI in 2024, underscoring management’s commitment to generating stable, non-volatile earnings.”

Sesere said the total contribution the NSIA had received from the Federal Government cumulatively was 1.8 billion dollars, while it had retained and further reinvested one billion dollars cumulatively into the business.

“So we have actually made an extra one billion dollars, and if you add that together, that gives you what our total net assets is, which is 2.8 billion dollars.”

Mr Kolawole Owodunni, the Executive Director and Chief Investment Officer, said the NSIA had three core funds which included the Stabilisation Fund, Future Generations Fund and the Nigeria Infrastructure Fund(NIF).

Owodunni said that the NIF was anchored on three pillars which are direct investment, co-investment and creation of institutions.

“ For our investment strategy, we look for projects that have nationwide strategic impact, attract foreign and local capital, attract commercial and social returns, and projects that have a conducive legal and regulatory environment.”

Owodunni listed some key projects under the NIF including the MEDSERVE, which aims to establish 23 diagnostic centres, seven catheterisation labs, and three oncology centres across the six geopolitical zones and the FCT.

Ijeoma Taylaur, the Chief Operating Officer, NSIA, said beyond providing financial returns to stakeholders, the authority was focused on driving value and enhancing performance as well as preserving capital.

“We do this through many strategies which include risk management by minimising losses.”

Taylaur said the authority was driving value creation through subsidiaries.

“For over a decade, NSIA successfully built and nurtured a diverse portfolio of subsidiaries across various sectors that contribute meaningfully to the national economy.

“Our approach is rooted in strong governance, robust risk management, and a strong operational focus. These have enabled us to optimize performance while adhering to our long-term strategic objectives.”

She listed some subsidiaries to include Green Guarantee Company, Development Bank of Nigeria, Nigeria Infrastructure Debt Fund, NSIA Prize for Innovation, Presidential Fertilizer Initiative and Nigeria Mortgage Refinance Company.(NAN)(www.nannews.ng)

Edited by Vivian Ihechu

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