NSIA and JICA Launch $50 Million Impact Innovation Fund for Nigerian Startups

Abuja, Nigeria – February 23, 2026 – The Nigeria Sovereign Investment Authority (NSIA) and the Japan International Cooperation Agency (JICA) have formalized a $50 million Impact Innovation Fund designed to bolster Nigerian startups addressing critical social challenges. The agreement was signed at the Ministry of Budget and Economic Planning in Abuja on Friday.

Fund Structure and Objectives

Under the agreement, JICA will provide a grant of $14 million, even as the NSIA will contribute up to $20 million in matching funds, bringing the total fund size to $50 million. The fund, structured as an onshore public vehicle, will offer both financial support and technical assistance to startups. This support will focus on refining products, scaling operations, and facilitating expansion into new markets.

Target Sectors

The Impact Innovation Fund will prioritize pre-seed, seed, and early-stage startups operating in key sectors including agriculture, healthcare, education, energy, and waste & water management. The initiative aims to provide “patient capital” – funding that allows for longer-term growth and impact – to ventures tackling Nigeria’s most pressing social and economic issues.

Statements from Key Leaders

Aminu Umar-Sadiq, Managing Director and Chief Executive Officer of NSIA, described the fund as a “transformative step for Nigeria’s startup ecosystem.” He emphasized that by providing early-stage ventures with the necessary capital and support, the fund will empower innovators to address critical challenges and drive sustainable development. “Our collaboration with JICA underscores our commitment to entrepreneurship, inclusive growth, and sustainable development,” Umar-Sadiq stated.

Suzuki Hideo, the Ambassador of Japan to Nigeria, highlighted the project as part of a broader package of cooperation programs proactively proposed by Japan. He noted that this initiative represents Japan’s first global implementation of a development model incorporating private capital, demonstrating a commitment to “co-creation” of social value through dialogue and collaboration.

JICA’s Role and Global Significance

JICA, a governmental agency under Japan’s Ministry of Foreign Affairs, is responsible for implementing Japan’s Official Development Assistance (ODA) to support socio-economic advancement in developing countries. The agency’s involvement signifies the strategic importance Japan places on supporting innovation and entrepreneurship in Nigeria.

Expected Impact

The fund is expected to generate positive outcomes across Nigeria, including job creation, improved livelihoods, and contributions to sustainable economic development. NSIA is currently preparing to operationalize the fund and identify a pipeline of high-impact startups for investment.