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

Nigeria disburses $4.7bln to govt, plans wealth fund

Posted on 16 August 2010

From Arabnews.com: Nigeria has distributed $4.7 billion in revenues and windfall oil savings to government for July, a massive disbursal which is likely to trigger a drop in bond yields and interbank rates next week, dealers said.

Africa’s biggest oil and gas producer shares its revenues among three tiers of government each month — federal, state and local — and tops the disbursal up with a withdrawal from its windfall oil savings if there is a shortfall…………………………………….Full Article: Source

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