The Nigeria Philanthropy Office (NPO) has announced the establishment of eight strategic partnerships and the securing of grants from 100 companies, as part of its efforts to stimulate job creation and drive growth within the Micro, Small, and Medium Enterprises (MSMEs) sector in Nigeria.
This was revealed during the South-West Philanthropy Summit held in Lagos. It was organised in collaboration with Odu’a Investment Company Limited. The summit aimed to support MSMEs through philanthropic funding, social investment, and collaborative models capable of scaling economic impact in the South-West and across Nigeria.
Chairperson of NPO, Thelma Ekiyor-Solanke, stated that the office, inaugurated in 2023 by Vice President Kashim Shettima, was created to catalyse philanthropic investments in high-impact sectors such as job creation, enterprise development, and women-led businesses.
“In just one year, we have forged eight strategic partnerships and secured grants from 100 companies to support the MSME ecosystem. All our activities to date have been fully funded by Nigerian capital.”
Ekiyor-Solanke also highlighted the NPO’s goal of fostering collaboration between the public and private sectors, with a focus on sustainable, long-term economic impact.
She noted that innovative funding models, such as social impact investing and public-private partnerships, would be central to the NPO’s strategy moving forward.
She further disclosed that the NPO aims to mobilise $200 million in philanthropic funding targeted at women-owned businesses and MSMEs, with the goal of generating one million jobs, directly and indirectly.
The chairman, however, cautioned that a lack of engagement from key stakeholders could undermine the impact of the initiative.
“We need government to create an enabling environment, while the private sector must begin to practise intentional, strategic philanthropy by allocating a portion of annual profits to impact-driven initiatives,” she said.
Group Chairman of Odu’a Investment, Bimbo Ashiru, emphasised the need for homegrown models tailored to the region’s unique economic challenges and opportunities.
“We must develop and adapt local strategies that replicate the successes of other emerging economies, if we address job creation and MSME support effectively, we can transform not just the South-West, but Nigeria’s economy and by extension, the continent.”
Ashiru explained the importance of leveraging philanthropy and social impact investment to drive large-scale change, pointing out that a high-growth Nigeria is crucial for Africa’s broader development.
He added that the South-West region has the potential to serve as a model for economic growth and social innovation across Nigeria. Chairman of the Nigerians in Diaspora Commission (NiDCOM), Abike Dabiri-Erewa, urged Nigerians abroad to participate in giving back to their homeland.
“We’re here today to talk about giving back. Philanthropy is a powerful tool, and the Nigerian diaspora can play a significant role in helping small businesses and reducing poverty,” she said.
