The Federal Government of Nigeria has taken a major step toward economic revitalization with a $50 million anchor investment in the Nigeria Wholesale Impact Investment Fund (WIIF), marking the first close of the fund at $100 million.
This strategic move aims to unlock inclusive growth by channeling long-term capital into sectors such as agriculture, infrastructure, and digital innovation—all central to President Bola Ahmed Tinubu’s goal of achieving 7% annual GDP growth.
At a high-level meeting in Abuja, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, welcomed stakeholders from the Impact Investors Foundation (IIF), the Global Steering Group (GSG) for Impact Investment, and private sector partners.
“The WIIF is a game-changing tool for unlocking finance where it’s needed most—small businesses, job creators, and innovators,” said Edun. “We are committed to transparency and measurable impact as we deploy these resources.”
Notable participants included IIF/GSG Chair Mrs. Ibukun Awosika, Kuramo Capital CEO Mr. Wale Adeosun, Presidential Adviser on Finance & Economy Ms. Sanyade Okoli, and Finance Ministry Permanent Secretary Mrs. Lydia Shehu Jafiya.
The meeting outlined next steps, including coordination with the Development Bank of Nigeria (DBN) to structure the fund’s disbursement and explore risk-sharing instruments like government guarantees to crowd in private investment.
The WIIF will also work closely with the African Development Bank-supported Youth Entrepreneurship Bank to accelerate access to finance for young entrepreneurs and micro, small, and medium enterprises (MSMEs).
With its dual focus on financial returns and social impact, the WIIF is expected to catalyze millions of jobs and lift underserved sectors—redefining how public and private capital can jointly power Nigeria’s economic transformation.
