FG Invests $50m To Impact Fund For MSME Support And Job Creation

The Nigerian Federal Government has committed $50 million to the Nigeria Wholesale Impact Investment Fund (WIIF) to enhance funding for micro, small, and medium enterprises (MSMEs) and foster job creation in critical sectors.

In a post on X, the Federal Ministry of Finance highlighted this investment as a demonstration of the government’s commitment to driving sustainable economic progress.

The initiative supports President Bola Tinubu’s ambition to achieve a seven percent annual economic growth rate, focusing on key areas like agriculture, infrastructure, and digital innovation, according to the statement.

The statement noted that Mr. Wale Edun, Minister of Finance and Coordinating Minister of the Economy, held a strategic meeting with representatives from the Impact Investors Foundation (IIF), the Global Steering Group (GSG) for Impact Investment, and notable private-sector leaders.

It added, “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, participants assessed the WIIF’s operational structure and outlined actionable steps, including formal coordination with the Development Bank of Nigeria (DBN) to establish the fund’s disbursement schedule.

Further talks focused on innovative financing solutions, such as government-backed guarantees, to boost private-sector engagement.

Edun emphasized that the collaboration showcases the effectiveness of public-private partnerships in advancing Nigeria’s economic goals, while stressing the government’s dedication to transparency, efficiency, and impactful resource allocation for the benefit of all citizens.

“This partnership exemplifies the power of public-private collaboration in advancing Nigeria’s economic priorities,” he said.