Federal Government approves another Investment Fund to lift 100 Million Nigerians out of Poverty

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.

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About the Author: Sam Oluwarantimi

Interpersonal Communication Specialist & Graduate (Biology), Obafemi Awolowo University. Join me on Twitter.

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