NSIA: Nigeria Sovereign Investment Authority (NSIA) and Japan International Cooperation Agency (JICA)) have signed agreements to establish a $50 million Impact Innovation Fund. This initiative aims to strengthen Nigeria's startup ecosystem by providing patient capital and support to early-stage ventures tackling key social challenges.
The fund will target pre-seed, seed, and early-stage startups operating in high-impact sectors, including agriculture, healthcare, education, energy, as well as waste and water management. It combines financial investment with technical assistance to help these companies refine their products, scale operations, and expand into new markets.
Under the agreement, JICA is contributing $14 million in grant support, while NSIA will match this with up to $20 million. Structured as an onshore public fund, the initiative is designed to attract additional capital and foster sustainable growth.
The signing ceremony took place at the Ministry of Budget and Economic Planning in Abuja. Speaking at the event, Aminu Umar-Sadiq, Managing Director and CEO of NSIA, described the fund as a transformative step forward.
“The Fund represents a transformative step for Nigeria’s startup ecosystem. By providing early-stage ventures in high-impact sectors with the capital and support they need to grow, we are enabling innovators to tackle some of Nigeria’s most pressing challenges,” Umar-Sadiq said. “Our collaboration with JICA underscores our commitment to entrepreneurship, inclusive growth, and sustainable development.”
The fund is expected to generate jobs, enhance livelihoods, and drive sustainable economic development nationwide. Preparations are now underway to operationalize the fund and build a pipeline of promising, high-impact startups ready for investment.
NSIA emphasized its ongoing dedication to socio-economic progress through strategic partnerships that scale innovation, expand solutions, and improve access to capital for Nigerian entrepreneurs.
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