22.01.2013 - Impasse over the SWF: Donít just blame the governors
The law establishing the Nigerian Sovereign Investment Authority (NSIA) was approved in May 2011. Nigeriaís progress towards joining the club of nations with a fully operational sovereign wealth fund (SWF) has been painfully slow, and the headline cause of the delay has been the resistance of the state governors. It has been said that Nigeria is the only member of OPEC without a fund in operation. This can be challenged semantically but there are other high-profile nations outside the club. The UK springs to mind in this context. We can look at weaknesses in the British physical infrastructure and wonder what impact savings from North Sea oil taxes for a rainy day might have had..............................................Full Article: Source
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