Government Aims to Secure N200 Million from Philanthropic Organizations to Boost MSMEs and Job Creation

The Federal Government of Nigeria is embarking on an initiative to bolster job creation and provide robust support to Micro, Small, and Medium Enterprises (MSMEs).

Plans are underway to raise £200 million from philanthropic organizations, a strategic move to fuel economic growth across the nation.

Temitola Adekunle-Johnson, Senior Special Assistant to the President on MSMEs and Job Creation, announced the ambitious venture.

The funds, he disclosed, will be strategically invested in key programmes and projects spanning various sectors, marking a significant step towards addressing unemployment and fostering the growth of MSMEs.

In a bid to streamline and coordinate these efforts, the presidency has instituted the Nigeria Philanthropic Organisation (N.P.O).

This private sector-led coordinating office will find its home in the office of the vice president, playing a pivotal role in facilitating this groundbreaking initiative.

The N.P.O will collaborate with philanthropic entities, impact investors, and financial institutions to establish twelve mega hubs nationwide.

These hubs will serve as catalysts for entrepreneurs in crucial sectors such as renewable energy, agro-processing, furniture, and fashion. The overarching goal is to invigorate economic sectors and generate employment opportunities.

Vice President Kashim Shettima has entrusted Thelma Ekiyor-Solanke with the leadership of the Nigeria Philanthropic Organisation.

As the current Chairperson of SME.NG, Ekiyor-Solanke brings a wealth of experience to the role.

Notably, she is a member of Nigeria’s National Advisory Board on Impact Investing (NABII) and also chairs the Centre for Analytics and Behavioural Change (CABC) in South Africa.

In a bid to ensure effective coordination, the Senior Special Assistant to the President on MSMEs and Job Creation will oversee the secretariat of the Nigeria Philanthropic Organisation.

Source: Channel TV