By Milcah Tanimu
Timi Oke, CEO of AgroEknor, has emphasized the vital role of impact investing in sustaining and revitalizing Nigeria’s economy. Speaking on the topic “Starting Small, Growing Big: Private Equity’s Role in Nurturing Nigeria’s Economic Pulse,” Oke highlighted that impact investment, which integrates social, environmental, and financial considerations, is becoming increasingly essential as Nigeria navigates its economic recovery.
Oke pointed out that the Nigerian impact investing market is still in its formative stages but holds significant potential, especially in sectors like agriculture, education, and health. He noted that patient capital—investments made with the expectation of long-term returns—can propel small and medium-sized enterprises (SMEs) to new heights, thereby fostering sustainable growth.
According to Oke, the impact investing industry in Nigeria has seen notable growth between 2010 and 2025, a period that also included two economic recessions. Despite these challenges, many investors, including institutions and high-net-worth individuals, are now aligning their investment strategies with corporate social responsibility (CSR) and ethical standards, giving rise to the impact investing trend.
Oke also stressed the critical role of SMEs in driving Nigeria’s economic development, contributing over 45% to the nation’s GDP. However, he acknowledged that access to funding remains a significant barrier to SME growth, further underlining the importance of impact investing in overcoming these challenges and supporting economic resilience.