Zainab-Ahmed-Finance-Minister
Sept. 2, 2021
Nigeria’s sovereign wealth fund now has around $3.5 billion in assets under management, up from $1 billion when the current administration took office in 2015, the Minister of Finance, Budget and National Planning, Zainab Ahmed said on Wednesday.
Recall that President Muhammadu Buhari earlier on Wednesday charged the new board of the Nigeria Sovereign Investment Authority (NSIA) to make more investments that support economic diversification, as global oil prices are projected to drop to around $40 per barrel by 2030.
Inaugurating the third Board of the NSIA, the President reaffirmed his administration’s commitment to implementing long term projects and programmes that create jobs for Nigerians.
He noted that the full impact of most of the strategic projects started under his watch will only be felt long after he had left office.
He described the appointment of the 9-man board as a call to duty, action and performance, adding that they were eminently qualified for the job.
‘‘As representatives of the Federation, you are required to continue to drive the performance of the Authority to deliver benefits to all Nigerians.
“This administration took the very difficult decision to invest for the long term. We avoided taking short cuts knowing very well that the full impact of most of the projects we started will only be felt long after we have left office,” he said, according to a statement from his spokesman.
