By DANIEL IDONOR, ABUJA
AFTER a year of concerted efforts by the three tiers of government toward creating wealth for the future development of Nigeria, President Goodluck Jonathan yesterday signed into law the NIgerian Sovereign Investment Authority, NSIA, with N1billion take-off grant.

With this development Nigeria has now joined other 50 member- countries of the Organisation of Petroleum Exporting Countries, OPEC, and 50 other countries of the world to have established a sovereign wealth fund.

The President also signed the amended 2011 fiscal bill of N4.38 trillion at a brief ceremony witnessed by Vice President Namadi Sambo, the President, Senator David Mark, the Speaker of the House of Representatives, Mr Bankole Dimeji, ministers and Secretary to the Government of the Federation, amongst others.

President Goodluck Jonathan assenting the 2011 Appropriation Bill under the watch of Vice President Namadi Sambo (l); Senate President, David Mark (r) and the Special Adviser to the President on Assembly Matters, Senator Abba Aji during a brief ceremony on Presidential Assent to the Nigerian Sovereign Investment Authority Bill and 2011 Appropriation (Ammendment) bill at the President's Office, State House, Abuja. Photo by Abayomi Adeshida 27/05/2011

Against expectations, the highly touted Freedom of Information, FOI, bill passed on Thursday by the National Assembly could not be signed by President Jonathan due to delay resulting from administrative processes by the lawmakers.

Presidential Spokesman, Mr Ima Niboro, however told State House Correspondents that Jonathan could not lay his hands on the bill which was passed less than 24 hours ago, adding that as soon as it is made available, the President will be ready to sign it.

Niboro disclosed that the lawmakers have promised to produce the proposed law for presidential assent by 8:00 pm yesterday, stating that President Jonathan is favourably disposed to the bill and would sign it as soon as he receives it.

Specifically, the Special Adviser to the President on Media and Publicity disclosed that “President Jonathan will sign the document between the time the bill is received and the next working day”.