The Federal Government has reaffirmed its dedication to sustainable economic growth with a $50 million investment in the Nigeria Wholesale Impact Investment Fund, bringing the fund’s first close to $100 million.
This was disclosed by the Federal Ministry of Finance of account on Tuesday via it’s official X handle.
According to the post, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, hosted a high-level delegation that included leaders from the Impact Investors Foundation, the Global Steering Group, for Impact Investment, and key private sector stakeholders.
The Ministry described the initiative as a clear demonstration of the government’s strong commitment to promoting sustainable economic growth.
The statement noted, “This strategic initiative supports President Bola Ahmed Tinubu’s vision of achieving 7% annual economic growth, with a focus on critical sectors including agriculture, infrastructure, and digital innovation.”
During the meeting, stakeholders examined the operational framework of the WIIF and outlined concrete next steps. These include coordinated engagement with the Development Bank of Nigeria to finalize the fund’s drawdown schedule.
The discussions also explored innovative financing tools—such as government-backed guarantees—to attract greater private-sector involvement.
The WIIF will also be integrated with the African Development Bank -backed Youth Entrepreneurship Bank to broaden support for young entrepreneurs.
Commending the collaborative efforts, Mr. Edun stated, “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.”
The initiative is expected to unlock significant financing for micro, small, and medium enterprises and create millions of jobs across key sectors of the economy.
The meeting brought together prominent stakeholders, including Mrs. Ibukun Awosika (Chairman, IIF/GSG), Mr. Wale Adeosun (CEO, Kuramo Capital), Ms. Sanyade Okoli (Special Adviser to the President on Finance & Economy), and Mrs. Lydia Shehu Jafiya (Permanent Secretary, Federal Ministry of Finance).
The gathering reaffirmed the government’s commitment to using impact investment as a strategic tool for job creation and poverty reduction.
The Wholesale Impact Investment Fund, a joint initiative of the Impact Investors Foundation and Kuramo Capital Management, has attracted strong interest from Pension Fund Administrators, who view it as a viable platform for sustainable and impactful investments.
