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Sovereign Wealth Funds Briefing - Categorized | Performance

Nigeria oil savings drop to $6.2 bln: minister

Posted on 09 February 2010

From 234next.com: Nigeria’s windfall oil savings in its excess crude account have fallen to around $6.2 billion as the government spent to counter the impact of a global downturn, junior finance minister Remi Babalola said on Monday.

Finance Minister Mansur Muhtar said in October the oil savings, which are supposed to cushion the OPEC member from the impact of any decline in world oil prices, stood at around $7 billion…………………………………Full Article: Source

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