Nigeria Targets 5 Billion for SWFs, Playing Catch up to Angola
06. Feb, 2013
The Nigerian Ministry of Finance plans to augment the size of Nigeria’s sovereign wealth funds to US$ 5 billion within the next three years. Currently, the Nigerian Sovereign Investment Authority (NISA) manages US$ 1 billion. The authority will start making investments in March 2013 after board approval. Investments from the infrastructure fund of the NISA will begin in the second half of 2013.
Political tension regarding oil resource money has existed between the Nigerian government and state governors. This has been an impediment of monetary transfers to the NISA.
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