President Buhari Meets with Nigeria Sovereign Investment Authority -NSIA

President Buhari has met with the Nigeria Sovereign Investment Authority -NSIA, with focus on the performance of the Sovereign Wealth Fund, and the construction of the Second Niger Bridge.

At the meeting between the Managing Director of the NSIA, Uche Orji, and the President, it was revealed that the Federal Government’s contribution to the Sovereign Wealth Fund has been affected by the falling crude oil prices in the international market.

Briefing reporters at the end of the meeting, Orji, said that the $1 billion dollar initial sovereign fund contributed by the government recorded 15.7 billion Naira profit in 2014.

Orji also stated that he discussed the commitment of the NSIA on the Second Niger Bridge, healthcare, agriculture and power with the President and explained that the NSIA’s investments so far, was in project preparation, making sure that the environmental and social impact assessment is made.

Orji added that the project preparation phase which the authority is currently undertaking has taken about 2.2 million dollars, and pegged the delivery date at 2020.



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