Stakeholders have emphasised the critical role of strategic philanthropy in tackling unemployment and accelerating micro-enterprise development across the country.

They made the call during the Southwest philanthropy summit organised by the Nigeria Philanthropy Office (NPO) in collaboration with Odu’a Investment Company Limited on Friday.

The gathering brought together policymakers, private sector leaders and development experts to explore innovative funding models.

President Bola Ahmed Tinubu revealed that Nigeria’s Micro, Small and Medium Enterprises (MSMEs) have more than doubled since the COVID-19 pandemic, jumping from 14 million to 36 million businesses nationwide.

The president, represented by his Special Adviser on Job creation, Temitola Johnson, stressed the need for innovative thinking to sustain employment, adding that supporting MSMEs remains critical for economic recovery.

Lagos State Governor, Babajide Sanwo-Olu, stressed the need to transit from spontaneous acts of kindness to strategic, measurable, and sustainable initiatives.

Sanwo-Olu, represented by the Secretary to the State Government, Bimbola Salu-Hundeyin, noted the critical role of private-sector philanthropy in complementing government efforts, particularly in addressing youth unemployment, women’s empowerment, and job creation.

He urged philanthropists, private sector leaders, and Non-governmental Organisations (NGOs) to adopt a more structured and data-driven approach to giving, aligning with the Sustainable Development Goals (SDGs) to maximise impact.

The governor also called for increased global philanthropic investments in the Southwest to drive inclusive economic growth.

The Group Chairman of Odu’a Investment Company Limited and Summit Chairperson, Otunba Bimbo Ashiru, emphasised that the summit was designed to foster partnerships between public and private sectors, promote social investing, and facilitate international collaborations.

Ashiru said the Southwest has the potential to lead Nigeria in economic growth and job creation models, adding that successful frameworks developed in the region could be replicated nationwide and beyond.

He stressed the importance of building strong partnerships between government and private sector actors, while also exploring social impact investing and international collaborations.

Ashiru pointed out that the Southwest region possesses the necessary potential to pioneer economic models that could eventually be replicated across Nigeria.

He expressed confidence that strategic philanthropy could drive large-scale economic change, not just in the region but potentially across Africa.

In his keynote speech, the Chairman of Airtel Foundation, Dr. Segun Ogunsanya, stated that misaligned values, national laws and policy constraints, quality and scope of interventions, as well as public perceptions and trust are 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.