Please we need sober and sound examination of this topic and not people just shooting of at the mouth,

This Article states that is being discussed amongst State Govornors (Hellooo) before being presented to the National Assembly,

http://odili.net/news/source/2010/oct/28/202.html

Please note that Soveriegn wealth funds are based on Goverment Surplus revenues ie Oil & gas etc that is used for alternative investments instead of Buying US Treasury Bills

I can understand why alot of the Gulf states in the middles East have one and the South East Asian Nations have one,

Gulf States in the middle east ie kuwait, UAE etc are investing in
Agriculture in East Africa due to no arable land in there countries and also they are investing in manufacturing companies in South East Asian in exchange for Enegy sources.

Through their Soveriegn wealth funds, the bulk of the SWF Investments

South East Asian Nations are using their Soveriegn welath Funds for investment in Energy companies in the middle east and also raw material (Commodity) companies in South America through their SWF vehicles,

Now what is Naija Political Leaders thinking of doing with the Oil/Gas surplus by Creating a Soveriegn Wealth Fund?
Are the going to be transparent about the investment or are they going to be "Closed-Mouth"

any country with sense has some sort of SWF. It gives a large liquid stock by which a government is more flexible to assist it's own development or save for emergency. some say that nigeria's swf is the reason it hasn't been hit has hard by the recession and growth rates are still high

OBJ Did marvellously well in establishing an excess crude account but was too shortsighted too back it up with appropriate laws and also failed to map out what the funds would be used for which led to frequent bickering about what to do with it.
The mere fact that the government is talking about it is an acknowledgement of guilt and an admission that mistakes have been made and hopefully, lessons learnt. It remains to be seen if the government can set aside their greed and take a decision that would benefit the nation in the long run.