The Nigerian federal government announced that the country had inaugurated a committee for the venture capital and private equity framework advancement in Nigeria.

The Minister of Industry, Trade and Investment Olusegun Aganga inaugurated the committee in Abuja, Nigeria. The Ministry was determined to create a credible and radiant equity and venture capital atmosphere to enhance the provision of equity capital, business development support services, and investment. The committee is also going to encourage to investments in micro, small and medium enterprises throughout the country.

"We want to attract credible venture and equity capital investors into the country so that they can help to provide equity capital and business development support services to our small and growing businesses across the country," Mr. Aganga said. "Our immediate objective is to develop a strategy, including a targeted and comprehensive legal, taxation and regulatory framework for further development of the domestic and international private equity and venture capital sector in Nigeria in particular, as an effective vehicle for attracting investments into Small and Medium Enterprises in other to create jobs and generate wealth for our country."