22.08.2016 - Why Nigerian state governments must establish sovereign wealth funds
Successive Nigerian governments failed to save or invest a part of their earnings. No individual or government that spends all their income during times of plenty should expect everything to be well in times of famine. Globally, countries as well as sub-national entities that generate revenues from commodity exports have established frameworks to put aside a portion of their earnings for the future and the vehicle mostly used for such savings is the sovereign wealth fund (SWF). In some jurisdictions, SWFs also receive part of the reserves held by central banks...............................................Full Article: Source
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