NSIA Develops 500,000 Homes, Creates 245,000 Jobs in Major Socio-Economic Push
The Nigeria Sovereign Investment Authority (NSIA) has announced significant strides in addressing the country’s infrastructure and social development challenges. The agency revealed it has delivered 500,000 affordable homes for low-income families through its stake in the Family Homes Fund, a move aimed at alleviating the nation’s housing deficit.
The Managing Director of NSIA, Aminu Umar-Sadiq, disclosed these achievements during an oversight visit by the House of Representatives Committee on Finance. He highlighted the authority’s efforts in fostering economic growth, noting that 245,000 direct jobs have been created across various sectors in its 12 years of operation.
In agriculture, Umar-Sadiq said the agency has supported 236,000 farmers nationwide through strategic programs aimed at boosting food security and rural economic development. These efforts span the six geopolitical zones, ensuring inclusivity in its interventions.
The NSIA has also made significant contributions to renewable energy development. The agency managed the implementation of a 10MW solar project in Kano State, creating over 500 direct and indirect jobs in the process. It further launched a $500 million Renewable Investment Platform for Limitless Energy (RIPLE), aimed at expanding energy access, enhancing efficiency, and ensuring energy security. The pilot phase of the platform is designed to address 70MW of energy demand, benefiting approximately 9,000 connections.
In the healthcare sector, the NSIA has been instrumental in enhancing access to quality services. It has completed three flagship hospital projects: the NSIA-LUTH Cancer Centre in Lagos, the NSIA-Umuahia Diagnostic Centre, and the NSIA-Kano Diagnostic Centre. These facilities have treated over 282,100 unique patients and delivered 150,000 chemotherapy sessions since their establishment.
Building on this success, the agency has embarked on a Healthcare Expansion Programme, which aims to establish 23 diagnostic centers, three additional oncology centers, and seven catheterisation laboratories across Nigeria. The first phase of this initiative is already underway, with construction in progress at ten sites.
During the visit, Deputy Chairman of the House Committee on Finance, Saidu Abdullahi, commended the NSIA for its transformative projects but called for more investments in agriculture, particularly in the sugarcane value chain. Abdullahi noted that Nigeria could learn from Brazil, where sugarcane generates over $40 billion annually, to revitalize its underperforming sugar factories.
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He also emphasized the need for greater collaboration to unlock Nigeria’s full economic potential, urging the NSIA to maintain its focus on impactful projects while addressing critical areas like agriculture and energy.
The NSIA’s Managing Director reaffirmed the agency’s commitment to delivering transformative projects that enhance socio-economic outcomes for Nigerians. With its strategic focus on public-private partnerships, the NSIA continues to play a pivotal role in addressing the country’s infrastructure deficits and improving the quality of life for millions.
