International Best Practices and Approaches to Oil Wealth Management : Lesions and Implication for Nigeria Sovereign Wealth Fund Management

This paper appraises the various approaches that can be used to manage oil resources in order to ensure fiscal sustainability. To do this paper review the macroeconomic condition prevailing before the adoption of Sovereign wealth fund strategy and the various ways the oil resources can be invested. Then the paper examines various methodological approaches that have adopted and the international best practices that have been adopted by other countries in oil revenue management and concludes that the Norway approach to oil management can help Nigeria ensure sustainable fiscal operation over the long run