02.12.2010 - Nigeria’s cabinet approves sovereign wealth fund

From Bloomberg: Nigeria’s cabinet approved the creation of a sovereign wealth fund at a meeting today in a bid to secure more of the country’s oil revenue for future generations. The bill will now go to parliament for approval, Information Minister Dora Akunyili told reporters in the capital, Abuja. The government has put aside $1 billion to set up the fund, Finance Minister Olusegun Aganga said on Sept. 3..............................................Full Article: Source

Print