Yesterday the Federal Executive Council (FEC) under the Chairmanship of President Buhari approved the establishment of the NIGERIA INVESTMENT AND GROWTH FUND (“NIG-Fund”). It will be structured like a private equity fund & invest in commercially viable projects in priority sectors.
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The new NIGERIA INVESTMENT AND GROWTH FUND (“NIG-Fund”) will raise financing from DFIs, pension funds, insurance companies, SWFs, private sector investors, family offices, Nigerians in diaspora, endowments etc.
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One highlight of the #NPRGS is a proposal—also APPROVED—for the establishment of a Nigeria Investment and Growth Fund #NIGFund, which will invest in commercially viable projects that will promote growth and innovation, enhance local value addition, create employment, promote exports.