Investors, policymakers unite to deepen Nigeria’s $100m impact fund vision
Nigeria’s drive to strengthen its impact investment ecosystem gained fresh momentum as investors, policymakers, and development partners convened in Lagos to advance the vision of a $100 million Wholesale Impact Investment Fund, aimed at mobilising domestic capital toward inclusive and sustainable development.
The event: ‘the 8th Annual Convening on Impact Investment,’ brought together key government institutions, fund managers, corporate investors, and international partners to chart a unified strategy for scaling the country’s impact economy.
Frank Aigbogun, chairman of the Impact Investors Foundation (IIF), said the creation of the impact fund represented a defining step in Nigeria’s journey toward self-driven development financing. He stressed the need to look inward and leverage local capital pools, including pension funds, diaspora remittances, and corporate reserves, to bridge financing gaps in critical sectors.
“We must be intentional about building a locally anchored ecosystem that supports impact capital. Pension funds, diaspora remittances, and corporate balance sheets represent an untapped reservoir that can power inclusive growth and address our social challenges,” Aigbogun said.
He noted that with global development financing becoming increasingly uncertain, domestic resource mobilisation was the most viable path forward. “Support from abroad can be disrupted by a single policy change in one country. We need homegrown solutions that channel capital toward investments that transform lives, strengthen communities, and protect our environment,” Aigbogun warned.
Aigbogun also announced that the IIF will unveil its 2025 Impact Investing Ecosystem Mapping and Market Sizing Report, which will provide data on market trends, investor participation, and emerging opportunities across Nigeria’s impact economy.
“We are building evidence to drive smarter policy and investment decisions. This is the kind of knowledge infrastructure that ensures Nigeria’s impact economy grows on a strong foundation,” he affirmed.
The IIF’s proposed Wholesale Impact Fund is designed to serve as a catalytic vehicle, blending public and private resources to invest in health, education, agriculture, renewable energy, and small businesses. It is expected to unlock broader participation from institutional investors while reducing risk for private capital through structured guarantees and co-investment mechanisms.
Etemore Glover, chief executive officer of the Impact Investors Foundation, said the Lagos convening underscored growing policy alignment and institutional readiness to operationalize the fund. “We are beginning to see stronger collaboration between the private sector and the public sectors. The Federal Ministry of Budget and Economic Planning has demonstrated leadership in promoting impact investing, while Lagos State has pioneered green and infrastructure bonds that have mobilised over N229 billion,” she said.
Glover added that the Foundation’s 10-Year National Strategy for Gender Equity and Social Inclusion (GESI) would complement the impact fund’s mission by ensuring capital flows toward women, youth, and marginalised groups. She revealed that 42 partner institutions had already pledged $8 billion in commitments aligned with inclusive investment principles.
The Foundation, established in 2019, has emerged as Nigeria’s leading platform for driving the impact economy through advocacy, market building, and partnerships. Over the years, it has worked with development partners and local institutions to create frameworks that measure, manage, and scale investments generating both financial and social returns.
Oyinkansola Akintola-Bello, country director of the UK-Nigeria Tech Hub, reaffirmed the UK government’s commitment to supporting Nigeria’s impact economy. “We are proud to support Nigeria’s impact investing ecosystem through data, policy frameworks, and gender inclusion strategies,” she said. “Sustaining these partnerships will be key to achieving the $100 million fund’s vision and ensuring long-term capital flows into impactful ventures.”
Participants at the convening agreed that the convergence of investors, regulators, and policymakers signals a maturing market ready to absorb large-scale, socially oriented investments. They emphasised that sustained coordination among ministries, state governments, and private investors will be crucial to achieving the fund’s objectives.
