Vice-President Namadi Sambo said the establishment of the sovereign wealth fund by the Federal Government was one of the core initiatives aimed at enthroning prudent management of the nation’s economy and serving to catalyse co-investment in the Nigerian economy.

Sambo made this assertion at the opening of a two- day national conference on “sustaining growth and development through intervention in the financial and real sectors of the economy,” held in Katsina, on Wednesday.

The vice-president, represented by the Minister of National Planning and deputy chairman, National Council on Finance and Economic Development, Dr Shamsudeen Usman, maintained that the fund would also reduce the vulnerability of the economy to external shocks and ensure inter-generational equity in the utilisation of the country’s resources.

According to him, the bill for the establishment of the fund was now with the National Assembly having received the approval of both the Federal Executive Council and the National Economic Council.

Sambo, who said that  government was working with the National Assembly to ensure its passage before the legislative session ended in May, assured that the recommendations of the conference would be implemented by government to rebuild and refocus the economy on a strong and more sustainable foundation.

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