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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation, Investment, Market

Nigeria eyes $1bln new Eurobond

Posted on 28 August 2012

The federal government is looking at issuing a Eurobond worth up to $1 billion next year to fund its power and gas sector reforms, taking advantage of the country’s likely inclusion in a JP Morgan emerging market index Minister of Finance, Ngozi Okonjo-Iweala said.
She also said that her long-term target was to scrap the country’s Excess Crude Account (ECA) and replace it with a planned sovereign wealth fund. “Ideally you would want to fold the two into one and that is our ultimate objective but for now I think the two in the short-medium term will run side-by-side until everybody gets comfortable with the sovereign wealth fund.”……………………………………….Full Article: Source


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