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Sovereign Wealth Funds Briefing - Categorized | Investment

Nigeria fund invests $200 mln as oil price cushion

Posted on 26 September 2013

Nigeria’s fledgling sovereign wealth fund on Monday completed investment allocations for the 20 percent of the $1 billion it is setting aside to guard against commodity price shocks, its chief executive said. Nigeria, Africa’s top oil producer and most populous nation, established the Sovereign Investment Authority (SIA) in 2011 in an effort to manage resources that economists say have often been squandered in the past.
“The key to sovereign wealth funds is in the consistent contribution going forward,” Uche Orji, the SIA’s chief executive officer, said on the sidelines of the Africa Investor conference in New York………………………………………..Full Article: Source


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