By Olusegun Obisanya
Financial leaders, governments and development partners have met in Lagos for the maiden edition of the South West Philanthropy Summit. The platform was established to boost the various sectors of Nigeria’s economy, create employment opportunities for the teeming unemployed youth, and provide financial aid to Micro, Small and Medium Enterprises through philanthropic gesture that will significantly impact the region and the rest of the country.
Witnessed by development partners globally, the programme, jointly sponsored by the Odu’a Investment Company Limited and the Nigeria Philanthropy Office (NPO) in the Office of the Vice President, aimed to engage stakeholders on the evolving role of philanthropy in the region’s socioeconomic development.
The Group Chairman of Odu’a Investment Company Limited and Chairperson of the Summit, Otunba Bimbo Ashiru, made the disclosure during his speech at the summit over the weekend in Lagos.
He said, “Today’s Summit is the first of its kind, and it seeks to engage stakeholders and participants on the role of philanthropy in the Southwest Region of Nigeria. The Summit is jointly organised by the Nigeria Philanthropy Office (NPO) in the office of the Vice President, and Odua Investment Company Limited, the investment holding company owned by the six states of Southwest Nigeria. The NPOs mandate is to provide catalytic support for philanthropic efforts aimed at MSMEs in targeted sectors with high job creation potential. Given the role of MSMEs in any economy, this mandate presents a remarkable opportunity to effect economic change across the country.”
He added, “Philanthropy is a great tool for driving economic and social impact across the world. In Nigeria, there is an opportunity to better leverage philanthropy in these areas. I will encourage everyone to see the Summit as an opportunity to contribute to the Nigerian society now and for the long term, it is our hope that the dreams we have of elevating the role of philanthropy in Nigerian to a place where it can deliver significant economic shifts will be realised in a short period of time.”
Speaking, Lagos State governor, Babajide Sanwo-Olu, represented by the Secretary to the State Government, Barr. Abimbola Salu-Hindeyin noted that philanthropy by the private sector plays a crucial role in complementing government efforts by tackling social issues and enhancing the lives of our citizens.
Sanwo-Olu, who paid heartfelt gratitude to South-West philanthropists, NGOs, and private sector partners who have united to explore practical ways to amplify philanthropy’s impact in Nigeria, posited, “More importantly, it acts as a strategic tool for addressing youth unemployment, women empowerment and promoting sustainable job creation throughout our region. However, 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.”
Speaking on “The state of Philanthropy in Nigeria: Trends and opportunities,” Chairperson, Nigeria Office for Philanthropy & Impact Investing (NPO), Mrs. Thelma Ekiyo-Solanke said President Tinubu needed to be commended for being the first to actually implement infrastructure for philanthropy, adding that NPO had been able to secure a number of MoUs with development partners.
She said, “So we spent the whole of last year building the infrastructure, establishing MoUs with different partners. I’m pleased to say, as we speak now, we have MoUs with eight private sector companies. We have, through our partnerships, we have over 100 grants for SMEs. With the support of Wema Bank, we have created the first ever online portal to facilitate philanthropic investments.
“What we started last year, most African countries are trying to do the very same thing. Look inward to generate capital.”
Special Adviser to the President on job creation and MSMEs, Office of the Vice President and Secretary, NPO, Tola Adekunle Johnson assured partners that the Federal Government was fully interested in the philanthropic project that will impact the economy.
He said, “So we need to constantly think outside the box, how to sustain jobs when we create them. We need to constantly think of how we support MSMEs in Nigeria. So, when the idea to creatively partner with NPO at the very apex of governance in the country, that’s the presidency, partnering the private sector to see a way to source for funds outside government budgetary cycle came up, we were very, very interested. Nigeria is a huge country with a huge population. We cannot afford to be lacking in terms of job creation. So, if there’s anyone here, especially our partners, that is in doubt whether the government is involved in this or not, we are 100% involved in this. We are 100 percent a partner in this.
Other dignitaries at the event include representatives from other Southwest States, Dr Segun Oginsanya, Chairman, Airtel Foundation and financial institutions.
