FG unveils $50 million Impact Investment Fund to drive inclusive economic growth

By Kunle Sanni

The Federal Government has officially launched the Nigeria Wholesale Impact Investment Fund (WIIF), a $50 million initiative aimed at fostering inclusive economic growth, job creation, and sustainable development across key sectors of the Nigerian economy.

This was revealed in a post on X by Kamorudeen Yusuf, Personal Assistant on Special Duties to the President, on Wednesday.

The WIIF, unveiled in Abuja as part of the first phase of a $100 million capital plan, is a cornerstone of President Bola Ahmed Tinubu’s Renewed Hope Agenda, which targets 7% annual economic growth. The fund operates as a “fund of funds,” channeling large-scale capital to development finance institutions, microfinance banks, and impact-driven fund managers. These entities will then finance businesses and projects that generate measurable social and economic benefits.

Sectors set to benefit from the initiative include agriculture, infrastructure, digital innovation, and youth entrepreneurship, with an emphasis on boosting underserved markets and unlocking financing for Micro, Small, and Medium Enterprises (MSMEs).

Speaking at the launch event, Minister of Finance Wale Edun described the fund as a strategic public-private partnership that will “catalyze investment, promote inclusive growth, and create sustainable jobs across Nigeria.”

The WIIF will also align with the African Development Bank (AfDB)-supported Youth Entrepreneurship Bank and will leverage government-backed guarantees to attract private investment.

“The WIIF represents a scalable, innovative financing mechanism that supports Nigeria’s transition to a resilient and innovation-led economy,” Edun added.