Nigerian Finance Minister Dr. Mansur Murhtar has told journalists that Nigeria is considering creating a sovereign wealth fund.
Speaking at the annual World Bank/IMF meeting at Istanbul, Murhtar said the Nigerian Ministry of Finance, the Central Bank of Nigeria and members of the National Assembly are in discussions to develop Nigerias Excess Crude Account, worth around $42 billion.
Nigeria is considering setting up the fund to add value to the existing reserves and to diversify its revenue base away from oil.