In 1990, Norway established the Government Pension Fund Global (commonly called the Oil Fund) to manage revenues generated from petroleum resources. Rather than spending most oil revenues directly through annual government budgets, the Norwegian state invests the majority of these funds in diversified international assets such as stocks, bonds, and real estate. The fund operates under strict transparency and accountability mechanisms, including public disclosure of investments, independent professional management, and limits on how much the government may withdraw annually. As of recent estimates, the fund is valued at over US$1 trillion and is regarded as one of the world’s most successful sovereign wealth funds.
THBT Nigeria should adopt a Norwegian-style sovereign wealth model for all future oil and gas revenues.
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