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Business Morning: Investment Authority In Nigeria Demands Access To Pension Funds -- 07/09/15
Posted
September 8, 2015
Views
153
September 8, 2015
153
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8:18Now PlayingThe agency responsible for Nigeria's Sovereign Wealth Fund, the Nigeria Sovereign Investment Authority says it wants more pension funds assets put in Nigeria's infrastructure funding basket for the government.
Nigeria's infrastructure spending gap is about 2.2 trillion Naira, but the pension fund has appreciated to about 3.4 trillion Naira which could provide for the government's need.
The head of Investment Research at Afrinvest, Ayodeji Ebo, said about 80 per cent of the funds are already in government equities while 30 per cent is in equities.
He stressed the need for a structure to be put in place to ensure that over time the returns will be commensurate with what it could generate if invested into other sectors.
"We need to try to balance it to ensure that the owners of the funds will get their money when they need it after retirement," Ebo said.
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