BY SAM OTUONYE
The Federal Government of Nigeria has reaffirmed its commitment to fostering sustainable economic growth through a landmark $50 million investment in the Nigeria Wholesale Impact Investment Fund (WIIF), anchoring the fund’s first close at $100 million.
The 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.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, hosted a high-level delegation comprising leadership from the Impact Investors Foundation (IIF), the Global Steering Group (GSG) for Impact Investment, and key private-sector stakeholders.
During the session, stakeholders reviewed the operational framework for the WIIF and agreed on actionable next steps, including structured engagement with the Development Bank of Nigeria (DBN) to finalise the fund’s drawdown schedule.
Further discussions will explore innovative financing mechanisms, including government guarantees, to enhance private-sector participation.
Additionally, the WIIF will be strategically aligned with the African Development Bank (AfDB)-supported Youth Entrepreneurship Bank to amplify opportunities for young entrepreneurs.
The Minister of Finance commended the collaborative efforts, stating: “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 projected to unlock significant financing for micro, small, and medium enterprises (MSMEs) and generate millions of jobs across priority sectors.
The meeting, attended by 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), underscored the government’s resolve to leverage impact investment as a catalyst for job creation and poverty alleviation.