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Nigeria sovereign wealth fund assets almost doubled by end-Q3 2016
February 22, 2017 / 9:43 AM / 10 months ago

Nigeria sovereign wealth fund assets almost doubled by end-Q3 2016

ABUJA, Feb 22 (Reuters) - Assets held by Nigeria’s sovereign wealth fund almost doubled to 413.63 billion naira ($1.36 billion) by the end of the third quarter of 2016 from the beginning of the year, it said on Wednesday.

The Nigeria Sovereign Investment Authority’s (NSIA‘s) assets rose 93.6 percent from 213.67 billion naira at the end of 2015, according to a presentation shown at a press briefing in Abuja.

The boost in a “fairly solid year” came after the NSIA deployed more capital, while “equity markets were very strong,” said Managing Director Uche Orji.

$1 = 305.2500 naira Reporting by Paul Carsten; Editing by Catherine Evans

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