NSIA and JICA Launch $50M Fund for Nigerian Startups

The Nigeria Sovereign Investment Authority (NSIA) and the Japan International Cooperation Agency (JICA) finalized a $50 million agreement to launch the Impact Innovation Fund, designed to strengthen Nigeria's startup ecosystem. This fund will provide patient capital to pre-seed, seed, and early-stage startups addressing critical social challenges in sectors including agriculture, healthcare, education, energy, and waste management.

JICA will contribute $14 million in grant support, while NSIA will match this with $20 million. The initiative aims to create jobs, improve livelihoods, and contribute to sustainable economic development across Nigeria.

During the signing ceremony, Aminu Umar Sadiq, Managing Director and CEO of NSIA, emphasized the fund's role in transforming Nigeria's startup ecosystem by providing necessary capital support for high-impact sectors. The agreement also highlights a commitment to entrepreneurship and inclusive growth, with the Japanese ambassador to Nigeria, Suzuki Hideo, noting the project's potential to mobilize private financing and foster collaboration between Japan and Nigeria.