| The Federal Government is currently working out a permanent source of raising the Nigerian Sovereign Investment Authority (NSIA) capital to possibly $5 billion, Ngozi Okonjo-Iweala, coordinating minister for the economy and minister of finance, said at the weekend. At the moment, NSIA which manages the Nigerian Sovereign Wealth Fund (SWF) has some $1.55 billion capital all funded through the excess crude account, including some $550 million recently injected by the government as third party assets for the institution to manage.
In her opening remark at a private meeting on the SWF, at the sidelines of the ongoing IMF/World Bank annual meetings in Washington DC, Okonjo-Iweala said the intention is to work the capital towards $5 billion, in the first instance, and then upwards, till it grows as appropriate...............................................Full Article: Source
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