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2nd Niger Bridge Funds Released by kmariko: 4:43am On Aug 12, 2014 |
The Nigerian Sovereign Investment Authority (NSIA) managers of the nation’s sovereign fund, will today release funds as part of its equity stake in the second Niger bridge, even as it revealed that it earned N2.5 billion in profits at the end of the half year 2014 period. “We are in the process of paying money to Julius Berger as part of early works for the bridge,” said Uche Orji, the managing director, NSIA, in a telephone interview with BusinessDay. “The SWF made net profits of N2.5 billion as at June, 2014, while our expenses were flattish to down,” Orji said. The profits are 370 percent higher than the N525 million profits realised by the NSIA in the 15 month period to December 2013. Half of the profits are realised gains, while the rest are unrealised gains from the investment portfolio, based on the market’s performance, according to Orji. The Julius Berger-NSIA Motorways Investment Company (JB-NMIC) Consortium is the preferred bidder for the development of the Second River Niger Bridge Project. The NSIA invests with three funds which are the Future Generations Fund to which it allocates 40 percent of its assets; Nigerian Infrastructure Fund (40 percent) and Stabilisation Fund (20 percent). The Nigeria Infrastructure Fund (NIF) focuses entirely on domestic investments in selected infrastructure sectors. “The Nigeria Infrastructure Fund (NIF), NSIA is focused on investing in critical infrastructure that would attract and support Foreign Direct Investment, promote economic diversification and enhance growth,” The NSIA said in a statement in its 2013 FY financial report. The NSIA has funded three commitments in the infrastructure fund namely: the Nigeria Mortgage Refinancing Company, in which it holds 22.7 per cent stake, fund for agriculture finance and the second Niger Bridge. Speaking on the future generations funds (FGF), Orji said four hedge fund managers were allocated 25 per cent of the agency’s assets, across various strategies including global, macro and long-short equities. The FGF has an investment horizon of about 20 years. Orji said the near term view is positive for the market in 2014, with 80 percent of the FGF asset allocation in growth assets, 15 percent in inflation hedge assets and 5 percent in deflation hedge assets. Within the growth asset category, the NSIA has allocated 25 percent to equities, split 15 percent to emerging markets and 10 percent to developed markets. ‘‘We have also allocated 25 percent to absolute return funds, another 25 percent to private equity funds and 5 percent to other diversifiers. Within the inflation protection assets, we have allocated 10 percent to real assets and 5 percent to commodities. And finally we have retained 5 percent in cash as deflation protection for the portfolio,’’ he said. The Private Equity (PE) fund would also be fully allocated by December, according to Orji. While there was no direct exposure to Nigerian equities for the period, there was a little indirect exposure through investments in Emerging Markets (EM) fund managers with Nigerian assets in their portfolios. ‘’We are not considering direct exposure to Nigerian equities for now,’’ Orji said. businessDay aug.11.2014 8 Likes |
Re: 2nd Niger Bridge Funds Released by Mynd44: 5:50am On Aug 12, 2014 |
1 Like |
Re: 2nd Niger Bridge Funds Released by eleojo23: 5:52am On Aug 12, 2014 |
Good. Only let the funds be used appropriately. 1 Like |
Re: 2nd Niger Bridge Funds Released by Nobody: 5:53am On Aug 12, 2014 |
dis news no even get meaning 7 Likes |
Re: 2nd Niger Bridge Funds Released by Birniwa(m): 5:54am On Aug 12, 2014 |
Making a FP for the first time since I started using Nairaland in 2008. Anyway, new topic please! 2 Likes |
Re: 2nd Niger Bridge Funds Released by bunmioguns(m): 5:54am On Aug 12, 2014 |
You guys should please allow me to concentrate now, the noise emanating from this thread is just to o much 10 Likes
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Re: 2nd Niger Bridge Funds Released by Firefire(m): 5:56am On Aug 12, 2014 |
A very good one. Let the work begin as fast as possible. 4 Likes |
Re: 2nd Niger Bridge Funds Released by luvly101: 5:56am On Aug 12, 2014 |
Fresh Airrrr!!! 3 Likes
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Re: 2nd Niger Bridge Funds Released by QMark: 5:57am On Aug 12, 2014 |
It was released for Niger bridge. I pray it is used for Niger bridge. 2 Likes |
Re: 2nd Niger Bridge Funds Released by Sijo01(f): 5:58am On Aug 12, 2014 |
Hope it will not end up in some elements pocket. 1 Like |
Re: 2nd Niger Bridge Funds Released by 1stola: 5:59am On Aug 12, 2014 |
GEJ. |
Re: 2nd Niger Bridge Funds Released by zicoraads: 5:59am On Aug 12, 2014 |
I don't even know what to type If this thread reach second page, then OP is a winsh |
Re: 2nd Niger Bridge Funds Released by Jaideyone(m): 6:00am On Aug 12, 2014 |
I'm so happy for them... let them have it. they've begged for 2 decades 2 Likes |
Re: 2nd Niger Bridge Funds Released by donpope1(m): 6:01am On Aug 12, 2014 |
Dividend of democracy at play.. Its only fools that doubt Jonathan's progressive mindset. The best Presido ever.. 15 Likes |
Re: 2nd Niger Bridge Funds Released by omenka(m): 6:02am On Aug 12, 2014 |
This scam nor get part two!!! Shebi when Senator Ngige say dem never free 10kobo for the job, the children of anger rained insults on him!! Now he's been vindicated!! Let us see how the project will stall after valentine next year!! PDP: Scamming the SE since 1200AD!! 16 Likes |
Re: 2nd Niger Bridge Funds Released by timilehing(m): 6:03am On Aug 12, 2014 |
2nd Niger bridge: where will it start and stop? How many kilometres bridge? It's going to connect which town-town or which state-state? How long will the construction last!? Will it be a toll-free bridge or Lagos bridge style way(#150/ toll-smallest vehicle) Answers or Adonbilivit 1 Like |
Re: 2nd Niger Bridge Funds Released by kekakuz(m): 6:03am On Aug 12, 2014 |
Jaideyone: I'm so happy for them... let them have it. they've begged for 2 decadesyea lets just let them have it. but before you know it,they will be everywhere.its Like opening a bigger door for them to escape their eastern jail they call home 4 Likes |
Re: 2nd Niger Bridge Funds Released by aryzgreat: 6:04am On Aug 12, 2014 |
some people will have a terrible day and nightmare at night due to this good news. I mean d cone heads. 18 Likes |
Re: 2nd Niger Bridge Funds Released by Jaideyone(m): 6:05am On Aug 12, 2014 |
kekakuz:lmao they'll soon be here to bite you |
Re: 2nd Niger Bridge Funds Released by eightsin(m): 6:05am On Aug 12, 2014 |
E war rats...mak una come start! |
Re: 2nd Niger Bridge Funds Released by MrRhymes101(m): 6:06am On Aug 12, 2014 |
we can only pray and hope it is used for the purpose it was released |
Re: 2nd Niger Bridge Funds Released by aryzgreat: 6:06am On Aug 12, 2014 |
Jaideyone: I'm so happy for them... let them have it. they've begged for 2 decades see one of them. the evil ones from the wasteside of the south. 15 Likes |
Re: 2nd Niger Bridge Funds Released by Jaideyone(m): 6:06am On Aug 12, 2014 |
omenka: This scam nor get part two!!!lol what an elder sees while sitting on a mat children will not see it while standing 5 Likes |
Re: 2nd Niger Bridge Funds Released by iiichidodo: 6:08am On Aug 12, 2014 |
aryzgreat: some people will have a terrible day and nightmare at night due to this good news.Shhh. Don't let their saviour supermod mynd hear you.You know how this pains them so.... 19 Likes |
Re: 2nd Niger Bridge Funds Released by uken73(m): 6:08am On Aug 12, 2014 |
Nigeria is moving forward. 2 Likes |
Re: 2nd Niger Bridge Funds Released by lafuria1(m): 6:08am On Aug 12, 2014 |
But the funds haven't been released yet, they said they WILL which means they haven't. They should have released it, Julius Berger confirmingit and every one is happy. |
Re: 2nd Niger Bridge Funds Released by IbrahimEazi(m): 6:09am On Aug 12, 2014 |
Can't believe am on front page! *Dancing skeluwu* |
Re: 2nd Niger Bridge Funds Released by SLIDEwaxie(m): 6:09am On Aug 12, 2014 |
2015 things... |
Re: 2nd Niger Bridge Funds Released by aryzgreat: 6:09am On Aug 12, 2014 |
kekakuz: Another vulture from the South West, haters of good news. more of the Coneheads still converging from their evil coven. 13 Likes |
Re: 2nd Niger Bridge Funds Released by Jaideyone(m): 6:10am On Aug 12, 2014 |
aryzgreat:dolt does it look like I'm jealous? I'm very happy since I'm considering taking up a job with a multinational company in calabar 1 Like |
Re: 2nd Niger Bridge Funds Released by farano(f): 6:10am On Aug 12, 2014 |
Jaideyone: I'm so happy for them... let them have it. they've begged for 2 decadesHBP don catch dis person 6 Likes |
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