The Traffic

*NSIA Requests N100bn Monthly Allocation for Economic Growth*

By Mabeni Aboh

The Nigeria Sovereign Investment Authority (NSIA) has made a formal request to the Federation Account Allocation Committee (FAAC) for a monthly allocation of N100 billion from residual funds. This request aims to drive economic growth by unlocking large-scale investments for critical domestic infrastructure projects.

According to the NSIA, the funding will enhance its capacity to finance infrastructure development, promote responsible investments, and support the country's economic development. The authority believes this move will position it as a leading sovereign wealth fund globally.

The request proposes that the funding commence from the March FAAC allocation and be structured as a monthly disbursement from residual funds, which are revenues in the Federation Account beyond projected hydrocarbon income.

If approved, the allocation is expected to have a significant impact on Nigeria's economic development, enabling the NSIA to drive growth through targeted investments and enhance its threefold mandate of building savings, developing infrastructure, and providing stabilization support.