Nigerian governors’ forum, LGs disagree over operation of sovereign wealth funds

The Association of Local Government of Nigeria (ALGON) has complained of exclusion from the operation of the Nigeria Sovereign Wealth despite owning 17.8 per cent of the National Sovereign Investment Authority (NSIA).

The association, while appearing before an ad hoc committee of the House of Representatives investigating the NSIA on Tuesday, said local governments have not been carried along in its operation.

The President of ALGON, Alabi Kolade, said the management of the NSIA had refused to consult the association on the operation of the funds.