| Nigeria’s Sovereign Investment Authority (NSIA), operators of the Nigerian Sovereign Wealth Fund (the Fund), was created to protect oil wealth for the country’s posterity by being a ballast to fiscal volatility. However, information from the latest annual report show that the Fund may have rather become a costly bureaucracy and a masterclass in misallocation with operational costs ballooning amidst thinned earnings. Established in 2011 with a take-off grant of $1 billion, NS |
