(3 minutes read)
The Nigerian government has been advised to invest pension funds in sectors that have direct impacts on the citizens to support economic development. This was conveyed at the National Advisory Board for Impact Investing (NABII) sixth yearly report ‘Investing for Impact in Nigeria’ launched in Lagos
The Nigerian government has been advised to invest pension funds in sectors that have direct impacts on the citizens to support economic development. This was conveyed at the National Advisory Board for Impact Investing (NABII) sixth yearly report ‘Investing for Impact in Nigeria’ launched in Lagos.
The report recommends investing in micro, small and medium-scale enterprises (MSMEs) and women-owned businesses. It also suggests measures to unlock pension funds to mobilise capital to drive growth in key sectors.
The study was undertaken by the Nigerian Economic Summit Group (NESG) and NABII and supported by the Global Steering Group for Impact Investment (GSG), OTT Impact and funded by the International Development Research Centre (IDRC).
It noted that most impact investment in Nigeria comes from international investors. But such investment flows are limited and do not necessarily translate into financial returns. The study also provides valuable insights how to unlock the potential of the agriculture, education and health sectors.
Read Also:
https://trendsnafrica.com/nigeria-ondo-state-to-promote-businesses-in-the-region/
https://trendsnafrica.com/nigeria-should-give-more-focus-to-msmes/
The report said that agriculture (with US799.8 million), financial services (US 729.69 million), and energy sectors (US $372.71 million) have been the most consistent sectors where investments are flowing in over the past few years. At the same time, investment flows into the education and health sectors have halted since 2018.
