Odua Investment Company Limited in collaboration with Nigeria Philanthropy Office (NPO) is targeting creation of jobs and enhanced capacity for Micro, Small, and Medium Enterprises (MSMEs) in the Southwest.
The partnership between NPO, a private-led coordinating office within the Office of the Vice President and Odu’a Investment will focus on driving philanthropic support for MSMEs as well as creating jobs for the teeming youths in the region in months to come.
Odu’a being an investment holding company with footprints across multiple sectors including real estate, agriculture, hospitality, financial services in addition with Odu’a Investment Foundation (OIF), a foundation which focuses on youth empowerment, healthcare and education is set to drive the initiative with NPO.
To kick start the initiative, a South West Philanthropy summit jointly organised by the Nigeria Philanthropy Office (NPO) and Odu’a was held in Lagos in which ideas were discussed with the potential to contribute exponentially to philanthropy especially in ways that can help address the problem of unemployment in the region.
Otunba Bimbo Ashiru , Group Chairman of Odua and Chairperson at the summit called for the development of home grown models to promote MSMEs capacity and growth through philanthropy, social and impact investment.
Ashiru said “we should develop and adapt homegrown models that seek to replicate the successes recorded in other emerging and developing countries across the world”.
While saying that other innovative solutions that deliver significant impact in the Southwest could easily be replicated across the rest of the country noted that “in the end, we want change, but we want change at a significant scale. If we can address job creation and support MSMEs for sustainable growth, we can essentially transform the economy of not only the region, but that of the country and possibly the continent, given the role of MSMEs in any economy adding that a high growth Nigeria is good for the entire Africa
Emphasising that Philanthropy is a great tool for driving economic and social impact across the world, he pointed out, that in Nigeria, there is an opportunity to better leverage philanthropy in these areas.
“The NPO’s mandate is to provide catalytic support for philanthropic efforts aimed at MSMEs in targeted sectors with high job creation potential, this mandate presents a remarkable opportunity to effect economic change across the country.
Mrs Thelma Ekiyor-Solanke , Chairperson, Office for Philanthropy and Impact Investing (NPO) disclosed that since the inauguration of NPO last year by Vice President Kashim Shetima, the office has established eight strategic partnerships.
Ekiyor-Solanke also revealed that the organisation has built powerful based philanthropic platform saying that “am happy that all our activities has been funded by Nigerian capital.
She further noted that NPO has secured grants from 100 companies to support job creation and economic growth in Nigeria, particularly within the MSME sector saying that NPO is geared towards generating one million jobs directly and indirectly within the MSME ecosystem.
She said NPO aims to mobilize $200 million in philanthropic support for MSMEs, particularly women-led businesses.
Mr Babajide Olusola Sanwo-Olu,
Governor of Lagos State while saying that government cannot do it alone said Philanthropy by the private sector plays a crucial role in complementing government efforts by tackling social issues and enhancing the lives of our citizens.
“More importantly, it acts as a strategic tool for addressing youth unemployment, women empowerment and promoting sustainable job creation throughout our region.
Sanwo-Olu represented at the occasion by Mrs Abimbola Salu-Hundeyin, Secretary to the State Government however said that to truly unlock its potential, philanthropy needs to shift from spontaneous acts of kindness to a more structured, data-driven approach that aligns with the Sustainable Development Goals.
“This way, our contributions can be impactful, measurable scalable, and sustainable. I want to take a moment to express my heartfelt gratitude to our South-West philanthropists, NGOs, and private sector partners who have united to explore practical ways to amplify philanthropy’s impact in Nigeria”
“Your financial contributions, time giving, volunteer efforts, and advocacy are making a real difference in our South West communities. Still, there is much to be done to ensure that resources are used responsibly and transparently, so that more beneficiaries can be reached and empowered.
To effectively tap into the transformative power of philanthropy, the governor said , we need to move from goodwill-based generosity to strategic, sustainable giving that aligns with the Sustainable Development Goals and embraces innovation creativity and sustainable empowerment leading to sustainable growth of the society.
In his keynote speech, the Chairman of Airtel Foundation, Dr. Segun Ogunsanya, noted misaligned values, national laws and policy constraints, quality and scope of interventions, as well as public perceptions and trust as the challenges facing the private sector.
He, however, advocated for collaboration between the government, private sector, and civil societies to create impact, partnership, and opportunities.
