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Sovereign Wealth Funds Briefing - Categorized | Financials, Fund Profile/New Launches

Fayemi negotiates $500m mining investment fund with NSIA

Posted on 11 October 2016

The Minister of Solid Minerals Development, Dr. Kayode Fayemi, has disclosed that he is currently negotiating a $500 million investment fund with the Nigerian Sovereign Investment Authority (NSIA), managers of Nigeria’s Sovereign Wealth Fund, to support a long term development plan for the country’s mining sector.
Speaking in an interview at the weekend in Abuja, Fayemi said the Federal Executive Council (FEC) in August approved a new roadmap for the development of the mining sector, adding that with a proactive execution of the roadmap, the sector was expected to contribute up to $27 billion to Nigeria’s Gross Domestic Products (GDP) ratio by 2025………………………………….Full Article: Source


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