The Federal Government of Nigeria has appointed 23 fund managers to spearhead the $10 billion Nigeria Global Investment Fund (NGIF), a transformative initiative aimed at channeling both international and local investments into the nation’s key economic sectors, including agriculture, manufacturing, energy, infrastructure, and fintech.
According to a presentation document obtained by Nairametrics, the NGIF is a cornerstone of Nigeria’s broader industrial revitalisation strategy, orchestrated by the Federal Ministry of Industry, Trade, and Investment.
The fund is envisioned as a powerful tool to diversify Nigeria’s economy, shifting its heavy dependence on oil revenues towards a more sustainable and inclusive growth model.
The NGIF operates as an umbrella entity, comprising a series of sub-funds that are each dedicated to sectors crucial to Nigeria’s development. This structure ensures that investments are targeted, impactful, and aligned with the nation’s long-term economic goals.
The selection of the 23 fund managers was the result of a rigorous process conducted under the supervision of the Securities Exchange Commission (SEC).
