The Federal Government has committed $50 million to the Nigeria Wholesale Impact Investment Fund (WIIF), marking the first phase of a broader $100 million initiative aimed at boosting sustainable economic growth and unlocking capital for small businesses.
Announced via the Ministry of Finance’s official X (formerly Twitter) handle, the move signals a strategic push to transform Nigeria’s economy through targeted support for micro, small, and medium enterprises (MSMEs) across key sectors such as agriculture, infrastructure, and digital innovation.
The launch was formalized during a high-level meeting convened in Abuja by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun. The session brought together public and private sector stakeholders, including representatives of the Impact Investors Foundation (IIF), the Global Steering Group (GSG) for Impact Investment, and the Presidency.
Read also:
- Stakeholders warn plastic ban could cripple SMEs without recycling infrastructure
- Traders to be relocated as FCT minister promises infrastructure support
- Kwara State backs creative economy to drive youth employment, inclusive growth
- NSITF urges Nigerian employers to enrol in compensation scheme
- Tinubu hosts inaugural West Africa economic summit to boost regional investment
Mr. Edun said the WIIF is a clear expression of the government’s development agenda under the Renewed Hope initiative. “This partnership exemplifies the power of public-private collaboration in advancing Nigeria’s economic priorities,” he stated. “We are committed to transparency, efficiency, and measurable impact in deploying these resources to benefit all Nigerians.”
With the government anchoring half of the fund’s projected $100 million capital base, WIIF is expected to attract additional investments from domestic and international institutions. It will operate as a “fund of funds,” channeling long-term capital to financial intermediaries, impact-driven lenders, and fund managers focused on generating measurable social and environmental benefits.
Officials say the fund is designed to de-risk high-impact sectors through blended finance solutions, while creating jobs and expanding access to finance for underserved markets. It will also align with the African Development Bank-supported Youth Entrepreneurship Bank, enhancing funding access for young entrepreneurs.
Key attendees at the meeting included Mrs. Ibukun Awosika, Chair of the IIF and GSG, Mr. Wale Adeosun of Kuramo Capital, Ms. Sanyade Okoli, Special Adviser to the President on Finance and Economy, and Mrs. Lydia Shehu Jafiya, Permanent Secretary, Ministry of Finance. Discussions covered WIIF’s drawdown plan, implementation roadmap, and engagement with the Development Bank of Nigeria.
According to the Ministry, WIIF is both a financing tool and a development strategy aimed at accelerating Nigeria’s transition to a more resilient, inclusive, and innovation-led economy. By supporting ecosystem builders and scaling access to capital, the initiative is expected to be a game-changer for MSMEs and the broader business environment.
Discover more from SMALL BUSINESS INSIGHTS
Subscribe to get the latest posts to your email.
