Fg Commits $50 Million To Impact Fund Supporting Msmes And Job Creation
The Federal Government has pledged $50 million to the Nigeria Wholesale Impact Investment Fund (WIIF), a move designed to unlock major financing opportunities for micro, small, and medium enterprises (MSMEs) and stimulate job creation in key sectors.
In a statement shared on its official X handle, the Federal Ministry of Finance emphasized that the investment reflects the administration’s dedication to sustainable economic growth.
The initiative aligns with President Bola Tinubu’s ambition to achieve a 7% annual economic growth rate, with a strategic focus on sectors such as agriculture, infrastructure, and digital innovation.
“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 (IIF), the Global Steering Group (GSG) for Impact Investment, and major private-sector stakeholders,” the statement read.
Notable participants at the meeting included Mrs. Ibukun Awosika, Chair of IIF/GSG; Mr. Wale Adeosun, CEO of Kuramo Capital; Ms. Sanyade Okoli, Special Adviser to the President on Finance & Economy; and Mrs. Lydia Shehu Jafiya, Permanent Secretary of the Federal Ministry of Finance. The gathering reaffirmed the government’s intent to harness impact investing as a tool to create jobs and reduce poverty.
During the session, participants reviewed the operational framework of the WIIF and agreed on key action points, including coordinated engagement with the Development Bank of Nigeria (DBN) to finalize the fund’s disbursement schedule.
Further talks are expected to explore innovative financing strategies, such as government guarantees, aimed at boosting private-sector involvement.
Commenting on the development, Minister Edun highlighted the importance of public-private collaboration in achieving Nigeria’s economic objectives and reiterated the government's commitment to accountability, efficiency, and ensuring the initiative delivers tangible benefits to citizens.
“This partnership illustrates the value of public-private cooperation in propelling Nigeria’s economic vision forward,” Edun stated.