Nigeria close to setting up sovereign wealth fund

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Nigeria looks set to create a sovereign wealth fund after President Goodluck Jonathan said he sent lawmakers a bill providing the legal framework for a government body to manage the proceeds of the country's oil wealth.

Agence France-Presse (AFP), a newswire, reported President Goodluck Jonathan on Monday as saying he had put forward "a bill to the National Assembly to create a national sovereign wealth fund" to provide the country with the "legal underpinning for national savings", adding that

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