Odu’a Investment Company Limited (OICL) and the Nigerian Office for Philanthropy and Impact Investing have signed a Memorandum of Understanding (MoU) towards providing grants for Micro, Small and Medium Enterprises (MSMEs) in South-West states.

The MoU, which was signed, yesterday, by officials of both organisations at the Job Creation and MSME Secretariat, Bank of Industry (BoI) Building in Abuja, is geared towards providing funding for startups to develop and grow businesses in critical sectors, including agriculture, renewable energy, fashion and furniture manufacturing, among others.

Chairperson of the Nigeria Office for Philanthropy and Impact Investing, Thelma Ekiyor-Solanke, said the MoU was part of the roadmap towards ensuring the office fulfils its mandate by working with relevant stakeholders.

Also, Group Managing Director/CEO, Odu’a Investment Company Limited, Abdulrahman Yinusa, who signed on behalf of the group, said the execution of the MoU was meant to achieve “impact investing” in the South-West states.

In his remarks, Senior Special Assistant to President Bola Tinubu on Job Creation and MSMEs, Tola Johnson, said the MoU was a milestone towards realising the President’s commitment to job creation.

He called for commitment from all partners to ensure that the targeted sectors benefit from the presidential intervention.

The Nigeria Philanthropy Office (NPO) is a private-led coordinating office situated in the Office of the Vice President to drive philanthropic support for MSMEs for targeted sectors that have high job creation potential.

The office is aligned with the job creation vision of President Tinubu and the administration’s ongoing work with MSMEs in terms of job creation by working with donors, impact investors, financial institutions and foundations.