Over 700 SMEs Receive ₦1.1 Trillion Boost as Nigeria’s Impact Investing Market Gains Momentum
Over 700 small and medium enterprises (SMEs) across Nigeria have received a combined ₦1.1 trillion in funding through development finance institutions and local capital mechanisms — a major milestone in boosting grassroots investment and sustainable growth. This was disclosed in a new report by the Impact Investors’ Foundation (IIF), which highlighted the growing confidence in Nigeria’s impact investing ecosystem.
Speaking at the 8th Annual Convening on Impact Investing held in Lagos, Regional Representative of Innovision Global Africa, Iffat Mahmud, shared findings from the report titled “Nigeria’s Impact Investing Ecosystem Mapping and Market Sizing Report: Key Insights and Strategic Opportunities.” She noted that the rise in domestic capital flow, supported by international partners, is transforming how investment drives measurable social and environmental progress.
“N₦1.1 trillion in financing reaching over 700,000 SMEs is not just a number — it’s proof that Nigeria’s impact market is deepening and becoming more coordinated,” Mahmud said. “Domestic capital is now working alongside global investors to fund businesses that create real impact. Capital providers are no longer waiting for perfect conditions; they are finding innovative solutions within the system.”
Mahmud also credited ongoing policy reforms for strengthening investor confidence and enabling sustainable capital inflows. “From pension fund diversification to the sustainable finance framework, these policies are building trust in the market,” she added. “When government, DFIs, and private investors align, we see real money move — and that’s the foundation of a resilient, homegrown investment ecosystem.”
In her welcome address, Etemore Glover, CEO of the Impact Investors’ Foundation, celebrated the progress made since the convening began in 2018. She announced the creation of the Nigerian Wholesale Impact Investment Fund, a $100 million initiative supported by the Federal Ministry of Budget and Economic Planning, with the government contributing $50 million through the Ministry of Finance. “This achievement underscores the power of collaboration, advocacy, and consistent engagement in building a thriving impact economy,” she said.
source: daily trust