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NSIA Funds: You Are Mere State Appendages, NGF Tells ALGON

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The Nigeria Governors Forum (NGF), said local government areas cannot be direct beneficiaries of funds from the Nigeria Sovereign Investment Authority (NSIA)

The NGF boss said technically, the states were real owners of the NSIA since they control over 54 percent of the shares of the agency alongside the local government.

He revealed that in 2022, the Governors requested a presentation on the operations of the NSIA from the management, adding that; “We were satisfied with the presentation and what they are doing. “Every single project executed by the NSIA is located in a local government and so, they are beneficiaries of the NSIA projects and we are satisfied with what they have been doing”.

 

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