Nigeria’s $1.5 billion sovereign wealth fund (SWF) says it is starting to shift the investment focus of the Nigeria Sovereign Investment Authority (NSIA) from external to domestic.
Uche Orji, CEO of the NSIA told the Wall Street Journal that by the end of 2017 the fund will be nearing the teens in terms of domestic investments compared to 6 % today as the downturn throws up significant buying opportunities.
According to Orji the SWF is investing a lot in agriculture in Nigeria.
We have done it two ways. One is direct investment, and the second is we have created an investment fund with a South African-based company to invest in agriculture in the country.