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

Nigeria to put $1 bln to work in sovereign fund

Posted on 14 May 2012

Ngozi Okonjo-IwealaNigeria’s $1 billion sovereign-wealth fund is set to start operating in the next few months, said the country’s finance minister Ngozi Okonjo-Iweala, in what would mark a crucial step to help the governement finance the revamping of its ramshackle roads and power grids.
Ms. Okonjo-Iweala, in an interview with The Wall Street Journal on the sidelines of the World Economic Forum, said the $1 billion will be pulled from Nigeria’s Excess Crude Account, which also funds the country’s fuel subsidy………………………………………..Full Article: Source


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