By Henry Umoru

ABUJA—MINISTER of Finance, Olusegun Aganga said yesterday that Nigeria was worried that in spite of economic growth being witnessed, the country’s ratings were plunging and being rated very low on the Global Competitive Index, GCI.

According to him, Nigeria has made progress in certain areas like the setting up of three commercial courts: establishment of Asset Management Corporation of Nigeria, AMCON, which will become operational soon, as well as the establishment of a Sovereign Wealth Fund, SWF, with an initial capital outlay of $1 billion

He added that the SWF would have three components including the Intergenerational Savings, Stabilisation Fund and Infrastructure Fund.

He spoke in Abuja, yesterday, at the opening ceremony of the 51st annual conference of the Nigerian Economic Society, NES.