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Sovereign Wealth Funds Briefing - Categorized | Investment

Nigeria sovereign wealth fund to start investing in June

Posted on 21 May 2013

Nigeria’s $1 billion sovereign wealth fund will start investing in June, as its board has approved the investment policy statements for the three funds it includes, Chief Executive Officer Uche Orji said.
The SWF, inaugurated in October, was set up to invest savings made from the difference between budgeted oil prices and actual market prices. Africa’s biggest oil producer relies on crude exports for more than 90 percent of foreign income and about 80 percent of government revenue, according to the central bank, making it vulnerable to swings in prices…………………………………Full Article: Source


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