The governors, who enjoy luxurious lifestyles and wield huge patronage, had been opposed to the fund because they feared it would reduce their share of the oil money. Nigeria picks team for $1-billion fund Zambia launches record-breaking euro bond
Nigeria signs $23-million electricity deal with Canadian firm The country pumps more than two million barrels of oil a day but economists say revenue over the decades has been wasted on bloated government wages, a vast patronage network that gets costlier closer to election time, or plain embezzlement.
