Nigerian Sovereign Wealth Gets $250 Million from ECA
Nigeria’s National Economic Council (NEC) has approved a fresh capital injection of US$ 250 million into the country’s sovereign wealth fund – Nigeria Sovereign Investment Authority (NSIA). The money is coming from Nigeria’s Excess Crude Account. At July 20, 2016, the excess crude account had US$ 3.93 billion in assets.
In total, Nigerian President Muhammadu Buhari’s administration has injected US$ 500 million into the NSIA.
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