Nigeria. Sovereign Wealth Fund Star

Just spent the morning with two great financiers and got this Roland (Monzur) Sodeinde and Olumide Ajayi with their permission I will do a post on their incredible efforts to fund projects in Nigeria one of these days. Olumide turned me on to a great statistic that the fastest growing Sovereign Wealth Fund ( they are the new power replacing hedge funds and private equity funds) is the Nigerian one growing at a reported 291% over the last five years the second reported Oman is nearly 40% lower. The average growth of this powerful investment vehicle is 24% across the board. If you combine the predicted 9% growth in GDP predicted by IMF in Nigeria this year along with a $60 billion external reserve and the this figures then the macro economic position of the country is remarkable. At the very least the detractors of the Obasanjo administration should acknowledge what has been done right and maybe they will have greater credibility in challenging what the administration did wrong.

Below is the link to the source , thanks again to Olumide Ajayi

http://www.globalinsight.com/PressRelease/PressReleaseDetail12347.htm