Nigeria’s Federal Executive Council, under the chairmanship of President Muhammadu Buhari, has approved the establishment of the Nigeria Investment and Growth Fund.
According to a tweet on Wednesday from the Presidency, NIG-Fund will be structured like a private equity fund and will invest in commercially viable projects in priority sectors.
FEC added that the establishment will raise fund from Development Finance Institutions, pension funds, insurance companies, Sovereign Wealth Funds, private sector investors, family offices, Nigerians in the diaspora among others.
The tweet read in part, “The new NIG-Fund will raise financing from DFIs, pension funds, insurance companies, SWFs, private sector investors, family offices, Nigerians in diaspora, endowments etc.”
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