Nigeria Sovereign Investment Authority
|Nigeria||US$ 1 Billion|
Transparency Rating: N/A
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Firm Investment Style: N/A
Entity Structure: Funds
Population Est.: 174.5 million – 2013
Wealth Per Capita Est.: $5.70
The Excess Crude Account (ECA) has been replaced with three sovereign wealth funds. These sovereign funds will manage Nigeria’s excess earnings from crude oil. The current administration stated the current Excess Crude Account has no real legal backing since it was formed under a political arrangement from the previous administration.
The NSIA will receive monthly funding of a significant portion of oil and gas revenue above the budgeted revenue and approved by parliament.
The Nigeria Sovereign Investment Authority (NSIA) will manage these three funds.
Strategy & Objectives
The objective of the Stabilisation Fund (SF) is to provide stabilization support to the Federation revenue in times of economic stress. The Stabilisation Fund will be mainly managed in-house in a diversified portfolio of liquid, low risk products such as Treasury bills and liquid short term investment grade bonds. The withdrawal triggers from the SF will be at the direction of the Minister of Finance, upon proper demonstration of urgency and satisfaction of the criteria set out in section 48 of the NSIA Act, the NSIA shall have the right to utilize capital and assets in the Stabilization fund to supplement resources available to stabilize the national economy.
Future Generations Fund
Nigerian Infrastructure Fund