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Just last week, Aminu Umar-Sadiq succeeded Uche Orji as Managing Director/CEO of the Nigeria Sovereign Investment Authority (NSIA). This makes him the second boss of the establishment which manages the Sovereign Wealth Fund of Nigeria. Expectations are high for him as he will now play a leading role in driving sustained economic development for the benefit of all Nigerians. Here’s what you need to know about Umar-Sadiq.

Umar-Sadiq is an experienced investment banker, and therefore highly qualified to lead the federal government’s investment institution. His career started on a high note in the M&A department of Morgan Stanley, where he executed numerous transactions focused on infrastructure, energy and utilities.

Umar-Sadiq moved to Denham Capital Management, a private equity firm with a natural resources specialist, and this time his work shifted to infrastructure-focused private equity for the next two years. He finally joined the mergers and acquisitions department of Société Générale for about a year. All these experiences acquired in different sectors and organizations will prove to be very important in the last part of his career.

His time with NSIA was summarily spent developing, executing and managing critical national infrastructure projects in key sectors such as health, roads and energy sectors. One of the things that contributes to his wealth of experience are the years he spent as a portfolio manager – Nigeria Infrastructure Fund, where he led investments in toll roads, healthcare, agriculture , electricity and real estate.

Working with the Nigeria Sovereign Investment Authority (NSIA), he was a member of the Executive Committee and Board of Directors of NSIA, and Deputy Director – of the Nigeria Infrastructure Fund, where he was responsible for the establishment, execution and infrastructure management (leads) and private equity investments (funds and direct co-investments) in Nigeria. He has also worked as an executive director and head of direct investments, and his recent appointment came after more than a decade at the facility. Umar-Sadiq also worked as Executive Director, Subsidiaries and Investment at the Authority.

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He serves on numerous boards in a non-executive capacity, including the Fund for Agricultural Finance in Nigeria (FAFIN), NSIA Healthcare Development and Investment Company and Multipurpose Industrial Platform Limited (MIPL).

He is an Archbishop Tutu Leadership Fellow (ATLF), associated with the Nigeria Leadership Initiative and also a Mandela Washington Fellow (MWF). Umar-Sadiq also serves as a mentor with Endeavour. He has been a volunteer with the African Leadership Institute since January 2018, as well as with the Most Influential People of African Descent (MIPAD) since October 2021. He is a Fellow of the Institute of Directors IoD, Nigeria, and is also NLI board member.

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Aminu holds a Bachelor’s and Master’s degree in Engineering Science from Oxford University (Saint John’s College), Oxford, UK. He also holds a leadership degree from Saïd Business School in Oxford.

What Aminu will do at NSIA

The NSIA Act (2011) empowers the institution to receive, manage and invest funds in a diversified portfolio of medium and long term assets on behalf of the Federal Government, State Governments, Federal Capital Territory and Councils regional local governments in view of the eventual depletion of Nigeria’s hydrocarbon resources.

The NSIA carries out this mandate through the three main funds: the Stabilization Fund, the Future Generations Fund and the Nigeria Infrastructure Fund (of which Umar-Sadiq has served as director in the past). As MD/CEO of the investment establishment, Umar Sadiq will oversee the three funds.

This means that it will play an essential role in providing budgetary support in times of economic crisis; saving funds for future generations of Nigerians and investing in national infrastructure. Would it be an exaggeration to say that Omar-Sadiq could now be one of the tripods upon which Nigeria’s future rests heavily? At least while he’s the boss of the NSIA…