The selection process assessed strategic thinking, execution capability, and the ability to deliver timely, decision-ready intelligence.

P+ distinguished itself through its strength in near real-time media monitoring, advanced measurement frameworks, and performance audit systems designed to support complex institutions with multiple stakeholder interests.

Under the engagement, P+ will provide continuous media intelligence across NSIA’s operations and affiliated interests, delivering insight-driven analysis to strengthen reputation management, stakeholder engagement, and communication performance.

P+ brings a strong and diverse portfolio spanning government institutions, financial services, development organisations, multinationals, energy, telecommunications, and NGOs.

Its approach combines global best practices with deep local expertise, ensuring that intelligence is both contextually relevant and strategically useful.

Speaking on the win, Philip Odiakose, chief media analyst at P+ Measurement Services Limited, noted that the process reflected the level of diligence expected from an institution like NSIA, adding that the P+ focus remains on delivering media intelligence that goes beyond tracking media mentions to explaining narratives, measuring impact, and guiding decision-making.

He emphasized that P+ will leverage its global methodologies, adapted to local realities, to provide NSIA with timely insights, clear performance evaluation, and a deeper understanding of how media perception shapes outcomes.

Also commenting, the Corporate Communications at the Nigeria Sovereign Investment Authority said P+ demonstrated a strong understanding of the Authority’s requirements and a clear ability to translate media data into meaningful insight.

The NSIA communications team noted that the firm’s proven track record across sectors, combined with its disciplined approach to measurement and evaluation, positioned it as a credible partner to support NSIA’s communication priorities and broader institutional objectives.

• Initial phase will equip 10 new MedServe diagnostic centers nationwide to significantly improve access to high-quality care.
• Collaboration focuses on sustainable development through world-class technology, comprehensive training, and local expertise enhancement.

At the 2025 annual meeting of the Radiological Society of North America (RSNA), the Nigeria Sovereign Investment Authority (NSIA) through its wholly owned subsidiary NSIA Advanced Medical Services Ltd (MedServe) and Siemens Healthineers announced a landmark 10-year strategic partnership aimed at transforming and elevating Nigeria’s healthcare infrastructure. 

This comprehensive collaboration is focused on advancing diagnostic capabilities across the country through the provision of cutting-edge medical imaging technology as well as capacity-building initiatives to ensure sustainable support for MedServe’s healthcare expansion program.

To mark the commencement of this long-term agreement, Siemens Healthineers will equip the 10 new MedServe centers that will soon be operational across the country to significantly improve access to high-quality medical imaging for the people of Nigeria.

While speaking at the event, Dr. Tolulope Adewole, MD & CEO, NSIA Advanced Medical Services (MedServe) noted that

“This 10-year partnership with Siemens Healthineers is a pivotal step in our strategic mission to build a resilient and sustainable advanced healthcare system that provides equitable access for Nigerians. We are consolidating our relationship with a trusted technology leader to not only supply critical equipment but to also develop local expertise. This initial deployment across our 10 new sites is the beginning of a shared journey to enhance diagnostic access and improve clinical outcomes across our nation.”

Dr. Bernd Ohnesorge, President, Europe, Middle East and Africa (EMEA), Siemens Healthineers, said,

“We are deeply honored that NSIA has chosen to expand our partnership. Having already established a strong collaboration in oncology, we are proud to extend our joint efforts into diagnostic imaging. This strategic agreement reflects our shared, long-term commitment to the future of Nigerian healthcare. We will support NSIA with world-class technology, comprehensive training, and our full expertise across medical imaging and oncology care systems to ensure this initiative delivers a lasting, positive impact for Nigerians.”

MedServe remains committed to delivering equitable healthcare access to Nigerians through strategic partnerships, capacity enhancement, and healthcare infrastructure investments.

Siemens Healthineers pioneers breakthroughs in healthcare. For everyone. Everywhere. Sustainably. The company is a global provider of healthcare equipment, solutions and services, with activities in more than 180 countries and direct representation in more than 70.

The group comprises Siemens Healthineers AG, listed as SHL in Frankfurt, Germany, and its subsidiaries.

As a leading medical technology company, Siemens Healthineers is committed to improving access to healthcare for underserved communities worldwide and is striving to overcome the most threatening diseases.

The Nigeria Sovereign Investment Authority is an investment institution of the Federal Republic of Nigeria, established by the Nigeria Sovereign Wealth Act (2011) to manage and invest in a diversified portfolio of medium and long-term funds.

• The DRE Nigeria Fund is the first country-focused DRE fund established under the DRE Africa Platform which will develop and invest in distributed renewable projects across Africa.
• The commitment by the partners aligns with the Mission 300 goal to connect 300 million Africans to electricity by 2030.  

The Nigeria Sovereign Investment Authority (NSIA), Sustainable Energy for All (SEforALL), the International Solar Alliance (ISA) and Africa50 today announced an innovative partnership for a US$500 million DRE Nigeria Fund to develop and finance distributed renewable energy (DRE) projects in Nigeria. NSIA, SEforALL and Africa50 signed the Fund’s Heads of Terms agreement at the SEforALL Global Forum in Barbados.

The aim of the DRE Nigeria Fund is to raise financing to offer tailored financial instruments and attract private sector capital while addressing critical challenges such as currency volatility, tariff structures, and the limited availability of local currency financing options.

Targeted investments will support mini-grids, solar home systems, commercial and industrial (C&I) power solutions, embedded generation projects, and innovative energy storage technologies.

This will ensure more reliable and cost-effective power access for Nigerian homes and businesses. A key objective of the Nigeria DRE Fund is to catalyze local currency funding from pension funds, insurance companies, and other local institutional investors.

Damilola Ogunbiyi CEO and SRSG for Sustainable Energy for All said the following:

“The launch of the DRE Nigeria Fund marks a pivotal moment in our collective efforts to address Africa’s energy access challenges. This Fund will attract the long-term patient capital required to scale projects, especially from institutional investors. With the Fund’s targeted focus on scaling up decentralized energy solutions, we are one step closer to achieving universal energy access across Nigeria”.

The DRE Nigeria Fund, co-managed by Africa50 and NSIA, would serve as a model for other country-specific funds across the continent that are expected to be launched under the DRE Africa Platform.

In his remarks during the launch, Mr. Aminu Umar-Sadiq, MD & CEO, NSIA emphasized the fund’s strategic importance,

“The DRE Africa Platform represents another major step in our commitment to unlocking Africa’s renewable energy potential. With the DRE Nigeria Fund, we are creating a scalable model to attract global investments, drive industrial development, and enhance energy access for millions of Nigerians and Africans at large. This initiative underscores our belief that sustainable infrastructure is critical to economic transformation, and we are proud to collaborate with SEforALL, ISA, and Africa50 to turn this vision into reality.” 

The DRE Nigeria Fund is expected to benefit from catalytic capital from the International Solar Alliance, through the recently announced Africa Solar Facility.

Sharing his congratulations on the announcement and expressing solidarity with the partners and the mission, Mr. Ashish Khanna, director General-Elect of the International Solar Alliance, said, “Mobilizing private investments and promoting catalytic finance through grants and equity is the key to a sustainable, energy-secure future for the Africa region which currently receives only 3% of global solar investments. We’ll begin with Nigerian homes and businesses and then take it to all countries of the continent.”

Also commenting on the announcement, Alain Ebobisse, Africa50 CEO said in his remarks: 

“This is a strong partnership with solid partners which can be a game-changer in accelerating investment in distributed renewable energy across Africa. This innovative collaboration aims to unlock the right financing instruments to fund projects at scale and help solve the energy access gap in Africa, bringing power to millions of Africans, driving economic growth for businesses and communities across the continent”. He added, “We look forward to welcoming additional partners to the platform in the near future.

The Fund’s core value lies in mobilizing institutional capital and fostering partnerships with the Nigerian government and private sector to scale renewable energy investments.

Mr. Wale Edun, the minister of Finance and Coordinating Minister of the Economy, said the transformative initiative will boost Nigeria’s trade and economic growth.

According to him the Single Window project aims to streamline trade processes, reduce bottlenecks, and increase transparency, positioning Nigeria for  economic growth.

A statement issued by Mohammed Manga, the director, Information and Public Relations,  Ministry of Finance,  quoted Edun as underscoring the transformative potential of the NSW in enhancing Nigeria’s trade facilitation and driving economic growth.

The initiative, Edun informed, is a key pillar in the federal government’s strategy to improve trade and customs processes, reduce bottlenecks, and increase transparency within the nation’s trade environment.

To ensure the effective implementation and financial management of the project, Edun explained that the Federal Inland Revenue Service (FIRS), led by its Executive Chairman, Dr. Zacch Adedeji, and the Nigerian Sovereign Investment Authority (NSIA) have been designated as the project’s implementing agencies.

The project secretariat, he added, will be housed within the FIRS, providing a central hub for coordination and oversight.

“Other key stakeholders from various government agencies, including the Nigerian Ports Authority (NPA), the Nigerian Customs Service (NCS), the Nigerian Civil Aviation Authority (NCAA), and the National Agency for Food and Drug Administration and Control (NAFDAC), are actively participating in the workshop.

“Their collaboration is crucial to ensuring the successful implementation of the NSW, which is a critical component of President Bola Ahmed Tinubu’s broader economic reforms.

“The three-day workshop will conclude today (Thursday) with a detailed action plan, outlining the next steps for the project and the timelines for its full implementation.

“With the launch of the National Single Window, Nigeria is poised to witness a significant leap in trade facilitation and economic growth.

“The collaboration among key stakeholders and the designation of implementing agencies underscore the federal government’s commitment to this critical component of President Tinubu’s economic reforms.

“As the project moves forward, Nigeria can expect improved trade processes, increased transparency, and a more business-friendly environment, paving the way for a brighter economic future for betterment of the economy,” the statement concluded.

According to a statement from the NSIA, 100 startups were first selected out of over 7,000 early-stage businesses that registered for the competition.

Another round of selection brought the number down to the 26 that will participate in the two-part accelerator phase.

According to the NSIA, the startups were selected from multiple sectors of the economy and they include

1.Magic Carpet.

2.Materials Pro.

3.Jump n Pass.

 4.Awacash.

5.VPay.

6.Betalife.

7.Centio Healthcare.

8.Yalo.

.9Pocket Lawyers.

10.Doktorconnect.

11.Trashcoin.

Others are;

12.One Health.

13 Redease.

14 VPD.

15 Kunda Kids.

16Agroxchange Technology

17.Sycamore.

18.Passcoder.

19 Earlybean,

20Powerfull,

21Adashe,

22Cash Africa,

23TownHall,

24Sakula,

25Pave,

26.Tribapay.

The NSIA Prize for Innovation is designed to empower early-stage tech ventures with the potential to drive economic growth, create jobs, and enhance Nigeria’s productive capacity.

For this year’s edition, NSIA said the startups would receive up to US$220,000 in cash and equity investment, including a life-changing five-week, all-expense paid training program at Draper University, Silicon Valley USA.

While at the physical bootcamp, the NSIA said the businesses would be exposed to interactive training sessions, networking opportunities with other innovators and tailored workshops.

The week-long physical bootcamp is expected to culminate in a mini demo day where the startups would pitch their solutions before a panel of judges drawn from the technology and business ecosystem, for a chance to proceed to the Demo Day and vie for the total combined prize value of US$220,000.

Commenting on the development, Aminu Umar-Sadiq,  the managing director & Chief Executive Officer of NSIA, said: “The Authority remains focused on leveraging the NSIA Prize for Innovation to propel socio-economic development especially by catalyzing the technology ecosystem, encouraging youth entrepreneurship, advancing innovative solutions to everyday challenges, and positioning Nigerian tech talents for global relevance.”

“The NSIA Prize for Innovation is the Authority’s multi-year commitment to identify and nurture early-stage businesses with potential for transformative impact in Nigeria,” he added.

The Second-Niger Bridge project is a 1.6km bridge in the South-Eastern part of Nigeria connecting Asaba to Onitsha.

The Lagos-Ibadan Expressway project – LIE – is a 127.6 km-long expressway cutting through Lagos, Ogun, and Oyo States which is over 90% to completion, while, the Abuja-Kaduna-Zaria-Kano Road (AKR) is a 375.9 km highway that connects the north of Nigeria to other parts of the country.

It is a revised project.

Aminu Umar Sadiq, the managing director of the Nigeria Sovereign Investment Authority, noted this in Abuja in the course of the public presentation of NSIA’s the 2023 financial earnings.

The NIF in 2023, pivoted to a thematic approach to investing, prioritizing trends and long-term growth potential across five strategic thematic areas: Transport and Logistics; Industrialisation; Services; Technology and Innovation; as well as Climate and Sustainability.

NSIA continued to maintain its status as the premier public sector institution that develops, executes and invests in complex infrastructure projects through its activities in NIF and other Governmental mandates.

Aminu said the investment is targeted at boosting the country’s domestic infrastructure and boosting economic viability.

The NSIA projects also  includes “completed and commissioning of  the 10MW solar project in Kano and the corresponding interconnection and distribution infrastructure, “ launching  the NSIA Advanced Medical Service Ltd (MedServe) after successfully operationalising 3 proof-of-concept centers.

Initiation of  its Healthcare Expansion Programme through MedServe aiming to establish 23 diagnostic centers, 7 catheterisation labs, and 3 oncology centers across Nigeria’s six geopolitical zones and the Federal Capital Territory in two phases. Construction of the first 10 centers is scheduled to commence in Q1 2024.

It also Created a US$500 million Renewables Investment Platform for Limitless Energy (RIPLE) to promote the development, investment, and operation of renewable energy projects across the entire value chain.

In collaboration with Vitol, established Carbon Vista, for investments in carbon reduction and avoidance projects. While collaborating with InfraCredit to develop an innovative construction finance warehouse facility to unlock long-term domestic capital to finance greenfield climate infrastructure projects in Nigeria.

NSIA launched a US$15 million Joint Preparatory Facility with Afreximbank, and commenced the development of a 10,000-seater Arena in collaboration with Metrowave Sports and Infrastructure Limited (MSIL), providing a dedicated venue for sporting events, concerts, conferences, exhibitions, and other events. NSIA also aim at exploring strategic partnerships to scale the program in 2024 (NPI 2.0).

Aminu stated further that “The NSIA’s impact on domestic investments has created real-time jobs and contributed to ease of doing business”.

Subsequently, by creating a more attractive investment environment, the NSIA is effectively leveraging its resources to attract significant additional capital for critical projects.

According to him,

“Already, the NSIA has made investments in over 50 per cent of locally owned and operated private equity funds. This targeted support strengthens the local financial ecosystem and empowers homegrown businesses to contribute to national development,”

He acknowledged key factors affecting investments both domestically and internationally, including tightening global monetary policy, China’s economic slowdown, the 2023 United States Banking crisis, Nigeria’s political transition, and persistently high inflation.

Established by the NSIA Act, which was signed into law in May 2011, the Nigeria Sovereign Investment Authority (“NSIA” or “The Authority”) is an investment institution of the Federation set up to manage funds in excess of budgeted hydrocarbon revenues.

Its mission also includes playing a leading role in driving sustained economic development, enhancing the development of Nigeria’s infrastructure, providing stabilization support in times of economic stress.

According to the Audited result for the 2023 financial year, NSIA recorded for the  11 consecutive years, continuous positive earnings with a cumulative annual growth rate of 11  7.3%.

It Net Assets grew 119% to ₦2.22 trillion in Dec-23 (Dec-22: ₦1.02 trillion).

NSIA’s Total Operating Income increased from ₦101.1 billion in the previous year to ₦1.18 trillion, inclusive of foreign exchange gains during the period.

This significant rise was attributed to the positive performance of the equities and fixed-income portfolios, as well as the positive performance of NSIA’s infrastructure investments.

The Total Comprehensive Income closed at ₦1.18 trillion for 2023, a growth of 1,122% relative to ₦96.96 billion in 2022.

NSIA’s core Total Comprehensive Income (excluding foreign exchange gains) rose from ₦21.39 billion in the previous year to ₦164.69 billion, marking a 670% increase attributable to the Authority’s robust strategic asset allocation and adherence to best-in-class enterprise risk management processes.

However, as at the time of filling this report, our correspondent is yet to receive a response from the inquiry sent to the Nigeria Sovereignty investment Authority (NSIA), requesting breakdown and further analysis of each of the projects of which the some of N571bn was invested.

The financial performance underscores its resilience in investment strategy and the quality of its earnings, despite global macro-economic, and geo-political challenges.

NSIA’s net assets grew 119 percent to N2.22 trillion as of December 2023 from N1.02 trillion in December 2022.

The financial statement showed that NSIA’s total operating income increased from N101.1 billion in the previous year to N1.18 trillion, inclusive of foreign exchange gains during the period.

“This significant rise was attributed to the positive performance of the equities and fixed-income portfolios, as well as the positive performance of NSIA’s infrastructure investments,” Joyce Onyegbula, the head of corporate communications, said.

Its core total comprehensive income (excluding foreign exchange gains) rose from N21.39 billion in the previous year to N164.69 billion, marking a 670 per cent increase attributable to the Authority’s strategic asset allocation and adherence to best-in-class enterprise risk management processes.

Mr. Aminu Umar-Sadiq, the managing director & chief executive officer of NSIA, remarked, “Our excellent results in 2023 and consistent positive performance over a decade offer further proof of our robust strategic asset allocation, proficient execution of our infrastructure initiatives as well as effective risk management processes.

“We remain firmly committed to catalyzing positive socio-economic outcomes through critical infrastructure investments; strategic partnerships that expand our impact across pivotal sectors; and solutions that not only deliver our mandate but simultaneously uphold environmental stewardship.

Looking ahead, we re-affirm our focus on creating shared prosperity for current and future generations of Nigerians.”

This competition is a collaboration between ONDI (a Subsidiary of NITDA) and NSIA to provide support for innovative solutions.

Startups that have the capacity of developing innovative technology-based solutions within their respective industries have the opportunity to win part of US$255,000 if selected among the top entries.

10 finalists will emerge after the boot camp, and 3 winners and 7 runner-ups will go home with up to $255,000 in cash and equity.

Register now at www.nsia-ip.com and stand the chance to get support for your growth-driven ideas through education, mentorship, and financing.

Acquired by MFS Africa in June 2022, the US-based GTP is the largest processor of prepaid cards in Africa, with more than 80 banks – including UBA, Ecobank, BIA, Stanbic, Coris, NSIA and Zenith Bank – using its platform.

Prior to joining the GTP executive team, Olaseni Alabede was the Vice President of Product Development in MasterCard’s Installments business. In this New York-based role, he was responsible for the design and development of Buy-Now-Pay-later products on the Mastercard network.

His history in the payments sector, however, dates back to the beginning of his career in 2003, when he started working as a web designer at the now-defunct City Express Bank in Nigeria. After that, he spent nearly a decade at Interswitch, growing from a project engineer to head of enterprise service management.

“We are thrilled to have Olaseni come on board as the new CTO for GTP,” says GTP CEO, Christian Bwakira. “His extensive experience in both the African and international payments spaces and his clear passion for technology’s ability to improve people’s lives and help build better futures makes him the ideal person to drive us forward technologically.”

For his part, Alabede says that he is looking forward to taking charge not just of GTP’s technology stack, but the entire technology initiative behind the company and drive a strategy that enhances the company’s already strong positioning.

“Right now, GTP provides a quality service that customers know and love it for,” he says. “But can we take that to the next level?”

The decision to join GTP, he says, was made primarily on the basis of the impact he believes the company, particularly under MFS Africa’s ownership, can have.  “When you think about what MFS Africa and GTP have done in the African market, that impact is significant,” he says. “I want to be part of taking that further, helping more and more markets replace the need for cash by using seamless technology that integrates our various offerings.”

In helping GTP achieve that impact, Olaseni Alabede plans to focus on seamless customer experiences  as he considers the elimination of friction in payments particularly critical.

“The more friction you remove from the consumer, the more they get out of their payments,” he says.

More particularly, he believes that there will be significant innovation around bringing these technological trends together and that African companies and consumers will benefit from them.

“I think that last mile delivery of frictionless payments and experiences is really going to translate into success,” he says. “As such, we can expect to see a lot of innovation and technological convergence happening in building those frictionless experiences.”

Outside of work, Alabede is passionate about promoting health in underserved communities. He serves on the Board of the Arthur Ashe Institute for Urban Health which provides health education and health equality in the Brooklyn Community and other parts of New York City.