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Nigeria’s sovereign fund to pivot to asset management, CEO says

Nigeria’s sovereign fund to pivot to asset management, CEO says

AHMED ELJECHTIMI NIGERIA'S Sovereign Investment Authority (NSIA) is seeking to take over underperforming government assets, including a power plant, as it transitions into an asset management firm, CEO Uche Orji said. "We are looking at many industrial projects and government-owned enterprises that are either moribund or not performing sub-optimally," Orji told Reuters on the sidelines of the launch of the Africa Sovereign Investors Forum (ASIF) by nine funds. NSIA's growth strategy was to take these assets and revitalise them, he said. Orji cited "advanced discussions" with the government to take over a power plant that was 85% complete "but required…
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