NSIA receives funding primarily from the surplus income generated from the sale of Nigeria’s crude oil. The Authority was allocated an initial sum of US$1 billion in seed capital in 2013. Since then there have been three additional tranches of contributions to the core fund.
Nigeria Sovereign Investment Authority and Vitol to establish carbon reduction and offset joint venture
The Nigeria Sovereign Investment Authority and Vitol today announce that they have entered into an agreement to establish a joint venture to invest in a range of high integrity, socially impactful, carbon avoidance and removals projects. NSIA and Vitol have agreed to make an initial commitment of US$50 million to this new venture.