The NASFAT Agency for Zakat and Sadaqah (NAZAS) has disbursed ₦174 million to beneficiaries nationwide, even as it celebrated maintaining an annual collection threshold above ₦100 million for the fourth consecutive year, despite a challenging economic environment in 2024.
Speaking during the agency’s 2024 Yearly General Meeting (AGM) and Zakat disbursement ceremony, the Chairman of NAZAS, Professor Maruf Adelekan, detailed the organisation’s resilience and accomplishments.
He noted that the year 2024 was shaped by the sustained implementation of fiscal and structural reforms, including the removal of the fuel subsidy and the unification of the foreign exchange (FX) market.
“Inflation remained a central concern throughout the year, averaging around 28 per cent, driven predominantly by rising food prices, logistics costs, and continued exchange rate depreciation,” he stated.
The Chairman pointed out that the naira’s volatility, trading between ₦1,400 and ₦1,500 to the US dollar, coupled with elevated fuel prices averaging ₦850–₦900 per litre, contributed to a widespread cost-of-living crisis, severely eroding purchasing power.
Despite these significant economic pressures, which often reduce charitable giving, Prof. Adelekan lauded the agency’s remarkable adaptability and resilience.
He noted an encouraging increase in both Zakat and Sadaqat collections, attributing the success to strategic donor engagement, multi-channel mobilisation, and the dedicated efforts of the volunteers.
“Since its inception in 2014, NAZAS has generated close to ₦900 million in Zakat and Sadaqat funds, impacting over 50,000 indigents.”
Professor Adelekan also mentioned the Train-To-Fund Scheme (TTFS) and the Tailored Disbursement platform, which are focused on creating sustainable value for beneficiaries.
Providing operational details, the General Manager of NAZAS, Mufutau Adelotan, revealed the significant growth in annual collections: “When we started in 2014, we were able to raise about ₦15.3 million. As of December 2024, we raised ₦189 million, and this year, 2025, we have been able to raise over ₦200 million.”
He stressed that the agency’s empowerment initiatives are multifaceted. “One of our key products is the TTFS, which enables us to train small and medium-scale enterprise owners and, afterwards, we empower them with funds and tools to boost their businesses,” he said.
The General Manager, however, identified a key challenge: the lack of awareness among many Muslim faithful regarding the obligation of Zakat. “We need more awareness to tell them that they need to pay their Zakat. There are benefits and consequences for not paying Zakat in Islam,” he noted.
He acknowledged that available funds are often insufficient to cater to the growing number of applicants seeking relief for health, scholarships, and debt.
The Special Assistant to the Lagos State Governor on Wealth Creation and Employment, Saheeh Oluwadare, assured NAZAS of government support, stating that the agency’s work tallies with the aim and objective of the Lagos Ministry of Wealth Creation and Employment.
“I want to assure that what you are doing at NAZAS deserves commendation and support. I’m assuring you that the Ministry will work with you to achieve more success,” he said.
