| The Sovereign Wealth Fund (SWF), which will need between $8 to $10 billion to address the issue of Nigeria’s infrastructure deficit, was set up by the administration of President Goodluck Jonathan, with plans to create opportunities for the conversion of gas resources to electric power generation; initiate metroline systems in cities like Kano and Lagos; develop waterways and ensure sustainable water supply, among others.
A Sovereign Wealth Fund is a state-owned investment fund comprising financial assets like stocks, bonds, property and precious metals. SWF, which may be accumulated over a period of time, and held by the central bank of a nation, or may simply be a direct savings or setting aside of some funds by the state, are generally invested globally..............................................Full Article: Source
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