Nigerian Sovereign Investment Authority

Nigeria US$ 1 Billion
Established: 2011
Transparency Rating: N/A
View Sovereign Fund Transaction Data
View Asset Allocation		 Origin: Oil
Firm Investment Style: N/A
Entity Structure: Funds
Population Est.: 174.5 million – 2013
Wealth Per Capita Est.: $5.70
Summary
The Excess Crude Account (ECA) has been replaced with three sovereign wealth funds. These SWFs 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 Nigerian Sovereign Investment Authority (NSIA) will manage these three funds.

  • Future Generations Fund
  • Nigerian Infrastructure Fund
  • Stabilization Fund

Background
Funds were previously held in the Excess Crude Account (ECA) to help stabilize the budget. The ECA was created in 2004.The rationale behind the ECA is to act as a stabilization fund, closing budget deficits that are a product of oil price volatility, and to potentially fund domestic infrastructure investments. On May 11, 2011 the Nigerian Senate approved the Nigeria Sovereign Investment Authority Bill, 2010, which seeks to establish a sovereign wealth fund to manage excess profits from the country’s sale of crude oil. It was then passed in the lower house and signed by the President of Nigeria.

Strategy & Objectives
TBA

Governance
There is a board of directors.

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