In a strategic move to fast-track Nigeria's economic transformation and empower underserved sectors, the Federal Government has announced a $50 million anchor investment in the newly launched Nigeria Wholesale Impact Investment Fund (WIIF).
The initiative, announced via the Federal Ministry of Finance's official X (Twitter) handle, signals the government's strong commitment to fostering inclusive and sustainable economic growth. The $50 million investment forms the first phase of what is projected to be a $100 million capital base for the WIIF.
The WIIF is a government-backed "fund of funds" – a financial structure that does not invest directly in individual businesses, but rather supports financial intermediaries such as development finance institutions, microfinance banks, and impact-focused fund managers. These institutions will, in turn, provide financing to businesses and projects that deliver measurable social and economic impact across priority sectors like agriculture, infrastructure, digital technology, and youth entrepreneurship.
Speaking after a high-level strategy session in Abuja, Mr. Wale Edun, Minister of Finance and Coordinating Minister of the Economy, described the initiative as a "practical demonstration of the government's development priorities under the Renewed Hope Agenda."
"This partnership exemplifies the power of public-private collaboration in advancing Nigeria's economic priorities. We are committed to ensuring transparency, efficiency, and measurable impact in deploying these resources to benefit all Nigerians," Edun stated.
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The strategy session brought together top public and private sector stakeholders, including Mrs. Ibukun Awosika, Chair of the Impact Investors Foundation (IIF) and Global Steering Group (GSG) for Impact Investment; Mr. Wale Adeosun, CEO of Kuramo Capital; Ms. Sanyade Okoli, Special Adviser to the President on Finance and Economy; and Mrs. Lydia Shehu Jafiya, Permanent Secretary, Federal Ministry of Finance.
During the meeting, participants reviewed the operational blueprint of the WIIF, discussed drawdown schedules, implementation strategies, and engagement with the Development Bank of Nigeria (DBN). Plans are also underway to explore innovative financing mechanisms, such as government-backed guarantees, to attract additional private capital and enhance investor confidence.
Crucially, the WIIF will align with the African Development Bank (AfDB)-supported Youth Entrepreneurship Bank, aiming to broaden funding access for young Nigerian innovators and MSMEs.
The fund will serve as a platform to mobilize large-scale, long-term capital, channeling it efficiently through vetted intermediaries to stimulate enterprise growth, boost employment, and build a resilient, innovation-driven economy.
According to the ministry, "by operating at scale and supporting ecosystem builders, the fund aims to increase capital flows to underserved markets and unlock economic opportunities nationwide."
The Federal Government's $50 million anchor investment is expected to crowd in additional funding from both domestic and international investors, leveraging blended finance models to de-risk investments and expand impact.
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