From Adanna Nnamani, Abuja
As part of efforts to combat youth unemployment and boost small businesses, the Federal Government has invested $50 million into the Nigeria Wholesale Impact Investment Fund (WIIF).
The initiative is aimed at unlocking access to financing for young entrepreneurs and micro, small, and medium enterprises (MSMEs).
The fund, now anchored at $100 million following this commitment, was unveiled on Monday at a high-level meeting hosted by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, in Abuja.
According to a statement signed by the Ministry’s Spokesperson, Mohammed Manga, the meeting brought together leaders from the Impact Investors Foundation (IIF), the Global Steering Group for Impact Investment (GSG), and private-sector stakeholders.
A key feature of the initiative is its planned alignment with the African Development Bank (AfDB)-supported Youth Entrepreneurship Investment Bank. This alignment is expected to directly target Nigeria’s youth population, providing the capital, mentorship, and ecosystem needed to nurture innovation and build resilient enterprises.
Commending the collaborative efforts, Edun said: “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 aims to serve as a bridge between public policy and private capital, with structured support from institutions like the Development Bank of Nigeria (DBN). The fund will also explore innovative risk-sharing tools, such as government-backed guarantees, to incentivize private-sector participation.
The initiative is projected to unlock significant financing for micro, small, and medium enterprises (MSMEs) and generate millions of jobs across priority sectors.
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