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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Fund Profile/New Launches

Nigeria president submits bill to create wealth fund

Posted on 14 September 2010

From Reuters: Nigerian President Goodluck Jonathan said on Monday he had sent a bill to parliament to create a sovereign wealth fund and that federal and state governments had set aside $1 billion in seed capital.
Africa’s biggest oil producer wants to establish the fund to divert more of its revenues towards badly-needed infrastructure development, save for future generations, and set aside a financial reserve to weather any economic downturns……………………………………….Full Article: Source


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