Nigeria Launches $100 Million Wholesale Impact Investment Fund to Spur MSME Growth and Economic Transformation.

By Raymond Enoch

In a bold move to accelerate economic diversification and strengthen the nation’s micro, small, and medium enterprise (MSME) sector, the Federal Government, through the Ministry of Finance, has announced the first close of the Nigeria Wholesale Impact Investment Fund (WIIF) at $100 million, anchored by a $50 million commitment from the government. The initiative is aligned with President Bola Ahmed Tinubu’s ambition for 7% annual GDP growth, focusing on priority sectors such as agriculture, infrastructure, and digital innovation.At a high-level engagement in Abuja, Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, welcomed leaders from the Impact Investors Foundation (IIF), the Global Steering Group (GSG) for Impact Investment, Kuramo Capital, and key officials from the Federal Ministry of Finance. Among the participants were 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) Stakeholders deliberated on structuring operational frameworks for the WIIF, which will engage the Development Bank of Nigeria (DBN) to operationalise draw-down schedules. Government guarantees and hybrid financing models were discussed to crowd in private sector capital and amplify investment impact. A strategic linkage has also been planned with the African Development Bank–supported Youth Entrepreneurship Bank to bolster youth-led enterprises Minister Edun highlighted the WIIF’s catalytic potential, noting:“This partnership exemplifies the power of public–private collaboration in advancing Nigeria’s economic priorities. We are committed to ensuring transparency, efficiency, and measurable impact in deploying these resources to benefit all Nigerians.” The WIIF is expected to unlock vital financing for MSMEs, driving job creation and helping to alleviate poverty across underserved communities. More importantly, this initiative reflects a broader government strategy to harness impact investment as a lever for sustainable and inclusive economic growth.Government seed funding: Nigeria leads with a $50 million anchor investment, marking half of the $100 million target.Focused growth sectors: Funds will prioritise agriculture, infrastructure, and digital innovation.Strategic partnerships: Engagement with DBN and Youth Entrepreneurship Bank ensures broader reach.Private‐sector integration: Exploring guarantees and co-financing to mobilise additional private capital.Impact objectives: Boost MSME development, generate jobs, and foster equitable economic advancement.This announcement signifies a critical shift toward impact-led financing, positioning Nigeria to strengthen its economy by empowering homegrown enterprises and supporting the government’s development agenda.