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

Nigeria: FG plans to boost sovereign wealth fund

Posted on 05 October 2012

The Federal Government hopes to expand the Sovereign Wealth Fund (SWF) by at least $1 billion a year, despite lingering opposition from the state governors. The fund was officially launched this week when its management team took office. It is designed to save oil revenues for future generations, and cushion the economy against external shocks.
Unlike many member states of the Organisation of Petroleum Exporting Countries (OPEC), Nigeria has never had a sovereign fund, and decades of high oil production have failed to result in any significant savings………………………………………..Full Article: Source


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