04.09.2015 - Nigeria Wealth Fund Sees Limited State Top-Ups on Low Oil Prices
Nigeria’s sovereign wealth fund doesn’t expect any major payments from the government as the finances of Africa’s largest oil producer have been hit by a halving in crude prices in the past year. “The weakness in crude oil prices might persist for the foreseeable future, thereby potentially impacting on new contributions from the federation,” Nigerian Sovereign Investment Authority Chairman Mahey Rasheed said in its 2014 annual report released on Thursday. “Consequently, I do not anticipate a substantial growth in the funds under management through that source.”..............................................Full Article: Source
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