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FG Appoints 23 Managers to Lead $10bn Global Investment Fund

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The Federal Government of Nigeria has appointed 23 fund managers to oversee the $10 billion Nigeria Global Investment Fund (NGIF), a key initiative aimed at channeling both international and local investments into vital sectors of the nation’s economy, such as agriculture, manufacturing, energy, infrastructure, and fintech.

According to a document obtained by Nairametrics, the NGIF is a central component of Nigeria’s broader strategy for industrial revitalization, spearheaded by the Federal Ministry of Industry, Trade, and Investment. The fund is designed to diversify the Nigerian economy by reducing its reliance on oil revenues, promoting a more sustainable and inclusive growth model.

The NGIF will function as an umbrella entity with a series of sub-funds, each dedicated to sectors crucial to Nigeria’s development. This structure ensures targeted and impactful investments that align with the country’s long-term economic objectives.

The 23 fund managers were selected through a rigorous process overseen by the Securities Exchange Commission (SEC). From an initial pool of 55 applicants, the chosen managers were evaluated based on criteria such as expertise in managing public-sector partnerships, financial strength, international investment capabilities, and commitment to Environmental, Social, and Governance (ESG) principles.

The list of appointed managers includes prominent firms such as AFC, Coronation Asset Management, Stanbic IBTC, AIICO Capital, and FBNQuest Asset Management. Each firm will manage specific sub-funds within the NGIF, which consists of 14 sub-funds and 49 individual funds, all designed to drive Nigeria’s economic transformation.

These 14 sub-funds will focus on priority sectors identified for their potential to drive economic growth and job creation, such as Automotive/Light Manufacturing, Agriculture, Pharmaceuticals/Healthcare, Oil & Gas, Energy, Fintech/Banking, Heavy Industries, Real Estate, Mines/Solid Minerals, Creative Economy/Tourism, Aviation, Infrastructure, Education, and IT. Each sub-fund is tasked with raising approximately $500 million, contributing to the NGIF’s goal of mobilizing $10 billion in its first phase.

The initiative forms part of Nigeria’s broader vision to build a $1 trillion economy within the next decade, as outlined in the Renewed Hope Agenda.

In April 2024, the Federal Ministry of Industry, Trade, and Investment (FMITI) invited expressions of interest from firms to manage the Nigeria Diaspora Fund, another $10 billion investment fund focused on engaging the Nigerian diaspora. The announcement, made by the Minister of Industry, Trade, and Investment, Doris Nkiruka Uzoka-Anite, via her social media account, emphasized the importance of leveraging the financial resources of the Nigerian diaspora to fuel economic growth. The ministry extended the deadline for fund manager applications to ensure broad participation.

These strategic initiatives represent a significant step towards Nigeria’s goal of becoming a major economic powerhouse by harnessing both domestic and international investments to drive sustainable development and prosperity.

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RUN Set to Mobilize Millions of Youth for Tinubu/Akpabio Ahead of 2027

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Following the conclusion of party primaries, Rising Up for a United Nigeria (RUN) as a civil society group championing the cause of all youths and middle age citizens has congratulated His Excellency, President Bola Ahmed Tinubu on his landslide victory in the presidential primaries recently held.

RUN also congratulated Senator Godswill Akpabio for emerging unopposed and the wild jubilation that greeted his victory as the Senator representing his constituency, the good people of Akwa Ibom State and Nigeria at large.

In a press release signed by Amb. Solomon Adodo and made available to journalists, a copy of which was sighted by our correspondent, the group described the win of the duo as beam of hope for Nigeria beyond 2027.

According to him, “the win of Asiwaju and Akpabio signals a beam of hope for Nigeria that beyond 2027, we shall be consolidating on the gains of synergetic partnership between the legislature and the executive as a precursor for rapid development.

“The support extended to Mr. President by the Senate President has yielded significant strides in fasttracking development across all parameters that affect national productivity”

The group therefore called on all Nigerians to come out in their numbers to support the president while outlining series programs with potentials to foster national unity across regional and religious lines.

“As a group representing the interests of Nigeria youths, we are determined to key into the Renewed Hope Agenda of Mr. President towards improving the skill set of Nigeria youths towards increased productivity and an end to unemployment”, the release stated.

The group expressed confidence in the possibility of a new Nigeria of our dreams with the victories of President Bola Ahmed Tinubu and Senator Godswill Akpabio who will definitely be handed a second term as the Senate President “to continue synergizing with Mr. President for a better Nigeria”.

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HON. JA’AFARU YAKUBU HONOURED WITH DOUBLE TRADITIONAL TITLES OF CHIROMAN GASSOL AND MARAFAN BAKUNDI BALI

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The Member representing Bali/Gassol Federal Constituency in the House of Representatives, Hon. Ja’afaru Chiroma Yakubu (ADC), has been conferred with two prestigious traditional titles — Chiroman Gassol and Marafan Bakundi Bali — in recognition of his exemplary leadership, commitment to public service, and immense contributions to community development.
The traditional honours were officially bestowed on the federal lawmaker by the revered traditional ruler of Bakundi Chiefdom, His Royal Highness, Alhaji Kabiru Muhammad Gidado Misa, the 10th Lamdo of Bakundi, during a colourful coronation ceremony attended by members of the royal family, community leaders, political associates, supporters, and well-wishers.
The conferment of the dual traditional titles has continued to attract widespread commendation from stakeholders across Taraba State and beyond, with many describing the recognition as a reflection of Hon. Ja’afaru Yakubu’s growing influence, grassroots connection, and unwavering dedication to the wellbeing of his people.
In a congratulatory message issued by his Special Assistant on Media and Publicity, Comrade Bashir Umar Dali, the lawmaker was described as a courageous, humble, and visionary leader whose commitment to humanity and community advancement has remained outstanding.
According to the statement, the titles Chiroman Gassol and Marafan Bakundi Bali are symbolic recognitions of the lawmaker’s selfless service, people-oriented representation, and tireless efforts towards promoting unity, peace, and sustainable development across Bali/Gassol Federal Constituency.
The statement further noted that Hon. Ja’afaru Yakubu has consistently distinguished himself through impactful representation, empowerment initiatives, and developmental interventions aimed at improving the lives of the people.
“Your commitment and selfless contributions to the growth and progress of the people continue to inspire many across Bali/Gassol Federal Constituency and beyond,” the statement read.
Comrade Bashir Umar Dali also prayed for greater wisdom, strength, honour, and divine guidance for the federal lawmaker as he continues to shoulder greater traditional and leadership responsibilities in service to the people.
Observers have described the conferment of the two traditional titles as a major endorsement of Hon. Ja’afaru Yakubu’s leadership credentials and his increasing relevance in the socio-political and traditional landscape of Taraba State.
The titles Chiroman Gassol and Marafan Bakundi Bali are regarded as highly respected honours within the traditional institution, reserved for individuals who have demonstrated exceptional character, loyalty, service, and commitment to the development and unity of their communities.

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EID-EL-KABIR: BELLO BABAYO BELLO COMMENDS TINUBU, SHETTIMA, GOMBE GOVERNOR AS HE FELICITATES WITH MUSLIMS NATIONWIDE

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The Executive Director, Networks, Niger Delta Power Holding Company Limited (NDPHC), Engr. Bello Babayo Bello, FNSE, has extended warm felicitations to Muslim faithful across Nigeria, particularly the people of Gombe State, on the occasion of the 2026 Eid-el-Kabir celebration, urging citizens to continue promoting peace, unity, love, and national development.
In a goodwill message released to journalists on the occasion of the Islamic festival, Engr. Bello described Eid-el-Kabir as a sacred celebration that reflects the virtues of sacrifice, obedience, faith, compassion, and gratitude to Almighty Allah as demonstrated by Prophet Ibrahim (AS).
He called on Muslims to use the spiritual significance of the season to strengthen the bonds of brotherhood, support one another, and continue praying for the peace, stability, and prosperity of Nigeria.
Engr. Bello also commended the leadership of President Bola Ahmed Tinubu, GCFR, for his commitment to national development, economic reforms, infrastructural advancement, and efforts aimed at strengthening unity and progress across the country.
According to him, the administration of President Tinubu has continued to demonstrate determination in laying foundations for long-term growth and national transformation through bold policies and strategic governance initiatives.
The NDPHC Executive Director equally praised Vice President Kashim Shettima, GCON, for his loyalty, dedication, and support toward the actualization of the Renewed Hope Agenda of the Federal Government.
He noted that the Vice President has continued to play a vital role in promoting stability, inclusion, and effective coordination within government.
Engr. Bello further applauded the Governor of Gombe State, Muhammadu Inuwa Yahaya, CON, for what he described as purposeful leadership and remarkable strides in infrastructural development, healthcare, education, youth empowerment, and peaceful coexistence in the state.
He said the governor’s developmental policies and inclusive style of governance have continued to attract admiration and confidence from the people of Gombe State and beyond.
“Eid-el-Kabir remains a season of reflection, gratitude, sacrifice, and devotion to Almighty Allah. It is also a period that reminds us of the importance of unity, compassion, tolerance, and service to humanity. As we celebrate, we must continue to pray for our leaders and for the continued peace, progress, and prosperity of our dear nation,” he stated.
Engr. Bello urged Muslim faithful to extend love and kindness to the less privileged, widows, orphans, and vulnerable members of society during the Sallah festivities, stressing that charity and generosity are central teachings of Islam.
He also commended the people of Gombe State for sustaining the culture of peaceful coexistence, harmony, and mutual respect among diverse communities.
The engineering professional and public administrator expressed optimism that Nigeria would continue to witness greater development, unity, and economic advancement under the leadership of President Tinubu.
He prayed for Allah’s continued guidance, wisdom, protection, and blessings upon the President, Vice President, Governor Inuwa Yahaya, and all leaders across the country.
Engr. Bello finally wished Muslim faithful in Gombe State and across Nigeria a peaceful, joyous, and spiritually fulfilling Eid-el-Kabir celebration.

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