Nigeria Sovereign Investment Authority (NSIA) and Japan International Cooperation Agency (JICA) have finalised agreements to launch a $50 million Impact Innovation Fund aimed at strengthening the Nigerian start-up ecosystem.

The fund will provide capital to pre-seed, seed, and early-stage start-ups, addressing critical social challenges in sectors such as agriculture, healthcare, education, energy, waste and water management.

JICA will provide $14 million grant, 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 start-ups 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, the Managing Director and CEO of NSIA, Aminu Umar-Sadiq, said: “The fund represents a transformative step for Nigeria’s start-up ecosystem.

The Japan International Cooperation Agency (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.