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Governors under hammer over SWF, ECA implementation

Posted on 06 July 2012

The planned implementation of the Sovereign Wealth Fund (SWF) alongside the Excess Crude Account (ECA) by the Federal Executive Council, (FEC), portrays state governors in Nigeria as having a penchant for spending, at the expense of infrastructural development, analysts have said.
Some of the analysts, while commending the approval of the SWF by FEC, which includes the 36 state governors, fault the increment of the ECA to $10billion from the present $5.3 billion. They argue that expending such an amount in the interim as a buffer to the economy is at variance with the fiscal consolidation stance of the government………………………………………..Full Article: Source


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