On May 27, 2011, the Sovereign Wealth Fund (SWF) bill was signed into law by President Goodluck Jonathan. This was after the bill had been passed by the National Assembly. The attempt to establish the fund has, however, been mired in controversy.
THE establishment of a SWF is common among natural resource-rich countries, which are concerned about the volatility of the international market for natural resources. The main purpose of the fund is to guarantee the ability of the government to plan and carry out such plans regardless of whatever economic situation it may be...............................................Full Article: Source
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