States Want More Info On Nigeria SWF

Nigerian state governors have sought more information on the workflow to be followed by the country’s planned sovereign wealth fund,Vanguardreports. The governors of 36 states have raised concerns that revenues placed in the SWF will tie up oil income and that not reach state level.

The fund will help the country to improve its management of crude oil earnings and replace Nigeria’s excess crude account, where oil revenues over a benchmark price are now saved. The federal government is expected to manage the fund.

Click here for the story fromVanguard.