President Muhammadu Buhari has confirmed the appointment of two Executive Directors for the Nigeria Sovereign Investment Authority.

Those whose appointments were confirmed were Mrs Stella Ojekwe-Onyejeli, who was reappointed as Executive Director for a second term. She is also the Chief Operating Officer of NSIA and Mr Aminu Umar-Sadiq, who was NSIA’s Deputy Head of Direct Investments.



He was appointed, for the first time, as Executive Director.

The confirmation was announced in a statement issued by the agency on Wednesday.

It said the appointments followed the realignment in 2018 of NSIA’s strategy with a pivot towards domestic infrastructure, as reflected in the allocation of 50 per cent of future contributions to infrastructure investments.

In 2018, the NSIA Board established for the first time a Direct Investment Committee for review and oversight of investments in core domestic infrastructure sectors such as motorways, agriculture, healthcare, power, and education.

Recent NSIA initiatives, according to the statement, reflected the increased focus on domestic infrastructure.

Some of the programmes to scale up funding include the Presidential Infrastructure Development Fund, which will fast-track the completion of five infrastructural projects of national priority.

The projects are Abuja-Kano Roadway, Second Niger Bridge, East-West Roadway, Lagos-Ibadan Expressway, and Mambilla Hydroelectric Power Plant.

NSIA is also galvanising investments in tertiary healthcare as it has invested in the development of the LUTH Cancer Treatment Centre among others.



The statement said the Authority remained committed to leading the development of strategic infrastructure initiatives in Nigeria.

The Chairman, NSIA Board of Directors, Mr Jide Zeitlin, said the appointments would strengthen the executive team of the agency to deliver on its mandate.

He said, “These appointments strengthen the Authority’s executive team and are consistent with our focus on maintaining a broadly representative leadership team and workforce so as to ensure that the institution remains a key participant in Nigeria’s economic transformation.”

“Both appointees are committed professionals who, along with other talented colleagues, have been instrumental in NSIA’s development.”