The federal government has announced a $50 million investment in the Nigeria Wholesale Impact Investment Fund, WIIF.
The ministry of finance said the investment is to show the government’s commitment to fostering sustainable economic growth.
The ministry said the initiative is projected to unlock significant financing for micro, small, and medium enterprises, MSMEs and generate millions of jobs across priority sectors.
According to the statement, the strategic initiative supports President Bola Tinubu’s vision of achieving 7 percent annual economic growth, with a focus on critical sectors including agriculture, infrastructure, and digital innovation.
“The Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, today 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,” the statement reads.
“The meeting, attended by Ibukun Awosika, Chairman, IIF/GSG; Wale Adeosun, CEO, Kuramo Capital; Sanyade Okoli, Special Adviser to the President on Finance & Economy; and 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.
“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.”
The ministry added that the WIIF will be strategically aligned with the African Development Bank, AfDB – supported Youth Entrepreneurship Bank to amplify opportunities for young entrepreneurs.
Commenting on the initiative, Edun said the partnership highlights the strength of collaboration between the public and private sectors in driving Nigeria’s economic agenda.
“This partnership exemplifies the power of public-private collaboration in advancing Nigeria’s economic priorities,” he said.
The minister reaffirmed the government’s commitment to ensuring transparency, efficiency, and measurable impact in deploying the resources to benefit all Nigerians
