3 Responses to “Nigeria’s New SWF Is A Billionaire…But Only Just”


  1. 1 Bruce W. Bean August 16, 2010 at 2:20 pm

    Ashby

    Is there any confidence at all that this fund will not be plundered?

    Tens of billions have been looted from Nigeria’s oil wealth. What is needed more than a new fund is a new attitude toward stewardship of Nigeria’s oil wealth.

    Nigeria has been yet another example of where people in a position to steal do not stop when they have what others think might be “enough.”

    • 2 Ashby Monk August 16, 2010 at 2:26 pm

      Hi Bruce: I think that’s a totally fair point. But, based on my reading of the situation, President Goodluck and Finance Minister Aganga have at least said they want something with legal standing (i.e. not the ECA) that also meets (in their words) “international best practice”. Aganga also noted, “The whole idea is that it is absolutely irresponsible for us to spend all the revenue we generate today. We need to provide for the future.” Now, will any of this play out? I have no idea. And my friends that really know Nigeria tell me that they are skeptical, but I’m somewhat optimistic…which is probably a sign of ignorance.


  1. 1 Nigeria Edging Ever Closer « Oxford SWF Project Trackback on September 13, 2010 at 12:06 pm

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This website is a project of Professor Gordon L. Clark and Dr. Ashby Monk of the School of Geography and the Environment at the University of Oxford. Their research on sovereign wealth funds is funded by the Leverhulme Trust and The Rotman International Centre for Pension Management.

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