Infrastructural Development: The Vision of Nigerian Sovereign Wealth Fund

Abstract

Nigeria requires an annual investment of about US$10billion over the next ten years in order to reduce its infrastructural deficit. This sum is grossly more than the 20% of $1billion allocated for infrastructural development by the Nigeria Sovereign Investment Act. The foundation upon which sustainable economic progress can be built in Nigeria is, arguably, inextricably linked to the availability and sufficiency of infrastructure. Knowing this, the federal government has, through the Act, set up a Nigerian Sovereign Investment Authority (“NSIA” or “the Authority”) to, among other things, bridge the infrastructural gap in the country.

Keywords: Infrastructural Development, Nigeria, Sovereign Wealth Fund