Nigeria NEC to Invest $250 Million in Sovereign Wealth Fund
Posted on 11/22/2019
At its 99th meeting, Nigeria’s National Economic Council approved a measure to allow the council to invest US$ 250 million in the Nigeria Sovereign Investment Authority (NSIA). The funds will be released to the NSIA for investment in the fund, Laolu Akande, Senior Special Assistant to the President on Media & Publicity Office of the Vice President, said on November 22, 2019, according to Nigerian media sources.
The council is also debating means of permitting part of Nigeria’s pension assets for co-investment with the NSIA.
Nigeria’s National Economic Council is comprised of the country’s 36 governors and the Central Bank of Nigeria.
In November 2015, the Nigerian government got permission to inject US$ 250 million into the NSIA.