NSIA, Japan sign $50m Nigerian Startups Fund deal

2026-02-23 - 00:56

Emma Ujah, Abuja Bureau Chief The Nigeria Sovereign Investment Authority (“NSIA”) and the Japan International Cooperation Agency (JICA) have signed an agreement to launch a $50 million Impact Innovation Fund aimed at strengthening Nigerian start-ups. The Fund will provide patient capital to pre-seed, seed, and early-stage startups addressing critical social challenges in sectors such as agriculture, healthcare, education, energy, waste & water management. JICA will provide $14 million in grant support, while NSIA will contribute up to $20 million to match the grant. Structured as an onshore public fund, the initiative combines financial support with technical assistance to help startups refine products, scale operations, and expand into new markets. The Fund is expected to create jobs, improve livelihoods, and contribute to sustainable economic development across Nigeria. Speaking at the agreement signing ceremony between NSIA and JICA at the Ministry of Budget and Economic Planning, Aminu Umar-Sadiq, Managing Director and CEO of NSIA said, The Fund represents a transformative step for Nigeria’s startup ecosystem. “By providing early-stage ventures in high-impact sectors with the capital and support they need to grow, we are enabling innovators to tackle some of Nigeria’s most pressing challenges. “Our collaboration with JICA underscores our commitment to entrepreneurship, inclusive growth, and sustainable development.” Mr. Umar-Sadiq said preparations were underway to operationalize the Fund and develop a pipeline of high-impact startups ready for investment. He added that the NSIA remained committed to advancing socio-economic development through strategic partnerships that scale impact, expand innovative solutions, and unlock access to capital. In his remarks, the Ambassador of Japan to Nigeria, Mr. Suzuki Hideo, said the project was part of package for Nigeria that Japan proactively proposed a set of appealing cooperation programmes in the areas considered as strategically important for Japan based on its foreign policy priorities. His words, “This initiative aims to achieve development goals by the “co-creation” of social value through dialogue and collaboration with Japan’s partner countries, while mobilizing private finance in combination with ODA. “Today’s project represents Japan’s first-ever implementation of this development model globally, specifically involving a fund that incorporates private capital. Interest in Tokyo is very high, and the Embassy has been eagerly awaiting the launch of this project. “The Government of Japan hopes this new project will take root in Nigeria and bear fruit swiftly.” JICA is a governmental agency under the Ministry of Foreign Affairs of Japan, responsible for implementing Japan’s Official Development Assistance (ODA) to support the socio-economic advancement of developing countries.