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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches, Market

Nigeria panel drafts SWF plan

Posted on 08 October 2008

From Reuters: A committee of top Nigerian economic advisers has finalised a plan to set up a sovereign wealth fund aimed at softening any impact falling oil prices may have on the world’s eighth largest crude oil exporter.

Finance Minister Shamsuddeen Usman told Reuters a committee including Central Bank governor Chukwuma Soludo and President Umaru Yar’Adua’s economic adviser submitted a blueprint for the fund after deliberating on it for more than a year. The fund could allow a certain percentage of the nation’s revenues to be invested in international markets, providing a cushion from tumbling oil prices….. Full Article: Source


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