FG to boost MSMEs, invests $50m in impact fund, creating job opportunities
FG to boost MSMEs, invests $50m in impact fund, creating job opportunities
The Federal Government, FG, has announced a $50 million investment in the Nigeria Wholesale Impact Investment Fund (WIIF), aimed at unlocking significant financing for micro, small, and medium enterprises (MSMEs) and generating jobs across priority sectors.
The Federal Ministry of Finance stated this in a post on X, noting that the investment is to show the government’s commitment to fostering sustainable economic growth.
According to the statement, the strategic initiative supports President Bola Tinubu’s vision of achieving seven percent annual economic growth, with a focus on critical sectors including agriculture, infrastructure, and digital innovation.
“The 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.
It said further, “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.”
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, while reaffirming the government’s commitment to ensuring transparency, efficiency, and measurable impact in deploying the resources to benefit all Nigerians.
“This partnership exemplifies the power of public-private collaboration in advancing Nigeria’s economic priorities,” he said.
