DEVELOPING A NATIONAL ADVISORY BOARD (NAB) FOR IMPACT INVESTING IN NIGERIA

 

 

The Impact Investors Foundation (IIF) held an inaugural webinar on establishing a National Advisory Board (NAB) for impact investing in Nigeria, earlier today, May 7, 2020. The objectives of the meeting were to discuss the benefits of setting up a NAB in Nigeria, share comparative experiences from other jurisdictions and engage key stakeholders in the discussion of the next steps for actualizing the Nigerian NAB.

The Honorable Minister of State, Federal Ministry of Finance, Budget, and National Planning, Prince Clem Agba, delivered the opening remarks in which he expressed the Federal Government of Nigeria’s readiness to collaborate with key actors in the impact investing ecosystem to address the social development needs of the country.

The opening was followed by two-panel sessions, moderated by Nneka Eze, Partner/Office Director at Dalberg Advisors. The first panel looked at critical constraints in the impact investing ecosystem in Nigeria and how the NAB could serve as a strong force in addressing them, as well as global perspectives on how NABs have contributed to expanding impact investing in other countries. The Panelists were Afolabi Oladele, the Chairman of IIF; Maria Glover, Projects lead at IIF; and Kristina Tora, the Chief Market Development Officer at the Global Steering Group (GSG) on Impact Investing.

The second panel dwelt on the experiences and lessons from the United Kingdom, which was the first country to establish a NAB and featured Sarah Gordon, CEO of the Impact Investing Institute and Nick Hurd, a former UK Government Minister and GSG Global Ambassador. They both shared successes of the UK’s NAB, the impact it had had on the country as well as the challenges they faced as pioneers in the field who had no other country’s experience to learn from when they started. They ended on a generous note by offering to support and render helping hands in the efforts of IIF to facilitate the establishment of a NAB for Nigeria.

The webinar was the first in a 2-part webinar series planned by IIF on developing a National Advisory Board (NAB) for Impact Investing in Nigeria. It would be followed up with a workshop on May 14, 2020. In all, over 70 participants drawn from key sectors, including government, private, social, and philanthropy sectors, took part in the webinar.

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