The Constitutionality of Nigeria's SWF

尼日利亚政府正式去年5月建立了新的主权基金。然后，新的尼日利亚主权投资机构获得了第一个官方现金注入（10亿美元）十月. In November, the NSIAannounced它正在招聘。显然，政府终于在出价中获得资源收入管理，以克服资源诅咒。一切顺利......对吗？

错误的。在颁布了NSIA立法后（更重要的是，选举之后），尼日利亚的州长转向基金并表示他们申请联邦政府试图阻止它进入正式存在。具体而言，36个国家州长挑战了从（现已离境）超额原油账户转移到NSIA的三个子基金的决定的合法性。

The case has gone all the way to the Supreme Court. But, yesterday, the Supreme Court did little to resolve the situation, indicating that it had decided...not to decide anything – at least not until May. (The Federal Government had pleaded with the Court to allow an adjournment to enable resolution of the dispute amicably, and the Court accepted this request.) In sum, the NSIA’s existence remains in jeopardy (and, with it, much of Nigeria's future economic prospects). So I’m very curious to understand some of the details of the Governors' case against the new fund.

This is where Joen Ezean of The Fletcher School’s SWF Initiative comes in, as he recently published一个很好的分析尼日利亚主权资金的现状，包括宪法辩论的详细描述。这是他的事情：“就资金未来而言，房间里的大象是持续怀疑目前设计的倡议的合宪性。令人怀疑的是，FGN在单方面授权将部分收入转移到另一个联合单位资助的资金的收入转移将通过构成测试。州长最初试图阻止基金的就职典礼，即侵犯宪法保障州权利的行为，并威胁要根据法案的运作抵御法律挑战。FGN抵消了索赔，在颁布该法案之前与州长咨询，并致力于该委员会曾同意将其随后提交国民议会的法案。州长反驳过，他们批准的是最终颁布的东西...... 然而，舆论迫切地反对州长，并有利于被视为试图消毒尼日利亚原油收入通常凌乱管理的倡议。一般性看法是，州长同意主动性，以便在他们准备大选时不疏远公众，但一旦选举结束，他们已经获得了他们的重选，他们突然意识到侵犯的行为论各国的宪法权利。公众舆论的总重量和FGN的保证说服了国家州长撤回反对派并允许就履行权力进行。 However, despite the capitulation of the State Governors, the initiative remains constitutionally suspect. The Act does indeed contain provisions that reinforce the narrative that Nigeria practices neither true federalism nor true democracy... 有或没有国家的默许戈夫rnors, it was presumptuous of the FGN to enact legislation that disposes of revenue due to the other federating units. This is a violation of the Constitutional provision that all revenues lodged in the Federation Account (which is the special account created by the Constitution for the lodgment of all revenues accruing to the Federation) must be shared between the Federal Government, the States and the Local governments in accordance with a revenue allocation formula to be determined by the National Assembly; and that all revenue going to the States collectively as a result of the revenue allocation process must subsequently be distributed amongst the States in accordance with a formula to be determined by the National Assembly... 同样，州长越来越多，在未经国家政府的立法公约，未经申诉组织，据最初或之后，据最初或随后，据最初或随后，据最初或随后，据他人同意。这是违反“宪法”规定，即应向国家的综合收入基金支付的所有收入，即在综合收入基金中缴纳综合收入基金的任何收入应根据处方缴纳由宪法或由拨款法或国家大会通过的法律或其他法律授权，一般来说，“除了规定的方式之外在装配之家“。

简而言之，它远非解决。州长有一个非常坚实的案例......