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The Managing Director, Nigeria Sovereign Investment Authority (NSIA), Mr Uche Orji, said on Monday that contributors to the Sovereign Wealth Fund will be eligible to dividends from 2018.
Orji disclosed this in Abuja when the Minister of Information and Culture, Alhaji Lai Mohammed, paid him a working visit.
“We are not allowed to pay dividends until after 5 years of consistent profitability.
“From next year, the federal, states and local government will be eligible for dividends from the contributions they made,’’ he said.
Orji said that NSIA was set up in 2012 as an agency, to build a saving base for the country, enhance development of the nation infrastructure and provide stabilization support in times of economic stress.
He said that the Federal Government owned 46 per cent contribution to the Fund while the states and local governments owned the balance of 54 per cent.
Photo Caption:
MANAGING DIRECTOR, NSIA, MR UCHE ORJI; CHAIRMAN, MR MAHEY RASHEED AND FORMER MINISTER OF FINANCE , DR NGOZI OKONJO-IWEALA
