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

Nigeria: There should be oil sovereign fund, says Utomi

Posted on 23 June 2010

From Allafrica.com: Professor Pat Utomi, Chairman of the Social Democratic Mega Party has opined that only $30 of the value of oil sold should go into the Federal Allocation Account, FAAC.
The rest of the money should be kept in a Stabilisation Fund for a variety of federal interventions for subsidizing the everyday living of the poorest of the poor in our nation as well as investment for future generations of Nigerians………………………………………..Full Article: Source

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