The federal government has announced a $50 million
investment in the Nigeria Wholesale Impact Investment Fund (WIIF).
In a post on X on Tuesday, 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, Mr. 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 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.
“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.
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