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The Nigeria Sovereign Investment Authority is a Nigerian establishment which manages the ''Nigeria sovereign wealth fund'', into which the surplus income produced from Nigeria's excess oil reserves is deposited. This sovereign wealth fund was founded for the purpose of managing and investing these funds on behalf of the government of Nigeria. The wealth fund commenced operations in October 2012 and was set up by the Nigeria Sovereign Investment Authority Act, which was signed in May 2011. It is intended to invest the savings gained on the difference between the budgeted and actual market prices for oil to earn returns that would benefit future generations of Nigerians. The fund was allocated an initial $1 billion USD in seed capital.〔 ==History== Nigeria is the most populous country on the African continent〔(【引用サイトリンク】 work= World Bank )〕 with an estimated 170,123,740 million people.〔(【引用サイトリンク】title=Africa: Nigeria )〕 It is also one of the largest producers of oil, on which the majority of its economy relies. Petroleum exports account for approximately 90 percent of its foreign revenue and 80 percent of government revenue.〔 Given Nigeria's dependence on oil, its economy is susceptible to shifts in oil prices.〔 Excess oil reserves were previously allocated to the Excess Crude Account (ECA), which was set up in 2004 as a stabilisation fund to meet the country's yearly budget deficits and to contribute to the development of local infrastructure. The constitutionality of the ECA has been brought into question. Nigeria's SWF was brought into law in 2011 via the Nigeria Sovereign Investment Authority Act〔 by President Goodluck Jonathan and is expected to replace the ECA.〔 The act authorized the establishment of the Nigeria Sovereign Investment Authority, giving it jurisdiction over the country's excess petroleum reserves. The fund is intended as security against future economic instability, to contribute towards the development of the country's infrastructure and as a savings mechanism for future generations, using the country's excess oil revenues.〔〔〔 It is also expected that managing these reserve funds will help to protect Nigeria's economy from external shocks.〔 With an initial financing of $1bn USD from the Nigerian government, Nigeria's fund is the third largest in Sub-Saharan Africa, after Botswana and Angola.〔 Uche Orji was appointed as the Chief Executive Officer of the NSIA〔 with Alhaji Mahey Rasheed as the chairman of the board of directors.〔 The board was inaugurated on October 9, 2012. The total professional and administrative staff complement of the NSIA is 25.〔 The firm, JP Morgan, was appointed as the custodian of the funds.〔 The NSIA has formed partnerships with key players in the business sector in order to realize its objectives. The NSIA has been invited to request observer status at the International Forum of Sovereign Wealth Funds (IFSWF), with the intention of eventual membership. The Authority will present its credentials at an October 2013 meeting in Oslo, Norway.〔 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Nigeria Sovereign Investment Authority」の詳細全文を読む スポンサード リンク
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