1. The composition of our total output seems to suggest a diversified and well-balanced economy. The size of our economy in 2019 was N146 Trillion (about US$448 billion). Oil and gas accounted for only 10 percent and non-oil contributed 90 percent. If we further disaggregate the non-oil output, agriculture had a share of 20 percent, industry-21 percent; and Services-49 percent. On the face of it, this looks like a well-diversified economy.
Browsing: Sovereign Wealth Fund
The Nigeria Sovereign Investment Authority, managers of the Sovereign Wealth Fund, says it made a profit of N46.5 billion in 2018.
The Managing Director, NSIA, Uche Orji, while presenting highlights of the financial performance of the fund to the media on Sunday in Abuja, said 2017 was a challenging year for the agency.
One strong demonstration of our political will has been a Whistleblowing Scheme we launched months ago that empowers citizens to report public corruption. The impact in terms of recoveries has exceeded our expectations. The tighter rein on public finances allowed us invest US$500m in our Sovereign Wealth Fund, during a recession
The Fund’s Managing Director, Uche Orji, disclosed this in Abuja on Monday, while receiving the Minister of Information and Culture, Alhaji Lai Mohammed, who paid a courtesy visit to the Authority.
Akabueze said that to address issues of delayed budget passing and implementation, the Federal Government had plans to ensure that from 2018, the nation returns to a predictable financial year
Senate Minority Leader, Senate Gorge Akume on Thursday, rejected the request made by President Goodluck Jonathan to obtain $1 billion loan to fight insurgency in Adamawa, Borno and Yobe.
Okonjo-Iweala said the Federal Government had realised that the SWF could use the funds made available to it to generate more monies from other investment partners
Receiving certificates for the two amounts in Yola, the Adamawa State capital, Governor Murtala Nyako said that the introduction of the fund was laudable as it would enhance development
Sanusi, who made the remark at the Euromoney Conference in Lagos on Thursday, said that the fund would shield the economy in the event of total crash of global oil price
The minister said all monies appropriated for constituency projects would be warehoused in an account at the Central Bank of Nigeria pending the readiness of Ministries, Departments and Agencies to execute the projects
Orji said the Future Generation Fund and the Nigeria Infrastructure Fund would get $325 million each from the $1 billion, while the Stabilisation Fund would receive $200 million