…as NPO establishes eight strategic partnerships, secures grants from 100 companies
Odua Investment Company Limited, in collaboration with the Nigeria Philanthropy Office (NPO), is targeting the creation of million jobs and Micro, Small, and Medium Enterprises (MSMEs) growth in the Southwest.
The partnership between NPO, a private-led coordinating office within the Office of the Vice President and Odua will focus on driving philanthropic support for MSMEs as well as creating jobs for the teeming youths and boosting women businesses in the region in months to come.
Odu’a being an Investment investment holding company with footprints across multiple sectors including real estate, agriculture, hospitality, financial services in addition with Odu’a Investment Foundation (OIF), a foundation which focuses on youth empowerment, healthcare and education in order to give back to society in a direct and tangible way is set to drive the initiative with NPO.
To kick start the initiative, a South West Philanthropy summit jointly organised by the NPO and Odu’a owned by the six states of Southwest Nigeria was held in Lagos in which ideas were discussed with the potential to contribute exponentially to philanthropy especially in ways that can help address the problem of unemployment in the region.
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Bimbo Ashiru , group chairman of Odua and chairperson at the summit called for the development of home grown models to promote MSMEs capacity and growth through philanthropy, social and impact investment.
Ashiru said “we should develop and adapt homegrown models that seek to replicate the successes recorded in other emerging and developing countries across the world”.
While saying that other innovative solutions that deliver significant impact in the Southwest could easily be replicated across the rest of the country noted that “in the end, we want change, but we want change at a significant scale. If we can address job creation and support MSMEs for sustainable growth, we can essentially transform the economy of not only the region, but that of the country and possibly the continent, given the role of MSMEs in any economy adding that a high growth Nigeria is good for the entire Africa.
Emphasising that Philanthropy is a great tool for driving economic and social impact across the world, he pointed out that in Nigeria, there is an opportunity to better leverage philanthropy in these areas.
“The NPO’s mandate is to provide catalytic support for philanthropic efforts aimed at MSMEs in targeted sectors with high job creation potential, this mandate presents a remarkable opportunity to effect economic change across the country.
Odu’a Investment Company Limited is an investment holding company, it is therefore very clear to us when we started engaging NPO that there are significant shared interests between both entities and that we share a common mission to deliver economic growth.
“In the year 2024, We therefore entered into a Memorandum of Understanding (MoU) to jointly promote philanthropic efforts in Nigeria, especially in the Southwest Region. So the summit was borne out of this partnership and the idea behind the Summit is to provide an opportunity to beam the searchlight on philanthropy and its expanding role in transforming lives.
“The summit seeks to achieve this by fostering collaboration, exploring diverse ideas and innovative solutions, and facilitating connections, relationships and conversations that will continue well beyond this year .While we hope the summit will catalyse and promote philanthropic efforts in the area of job creation in the Southwest region, attracting focus and resources from across the globe. The region is ready for such attention.
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“Some of the thematic areas we will focus on include partnerships especially between public and private sector actors, innovative job creation strategies, social and impact investing, and local and international collaborations.
The Southwest Region is one that has the capacity to serve as a catalyst for the rest of the country in the area of economic growth and social models for job creation.
Thelma Ekiyor-Solanke , chairperson, Office for Philanthropy and Impact Investing (NPO) disclosed that since the inauguration of NPO last year by Vice President Kashim Shetima inaugurated, the office has established eight strategic partnerships.
Ekiyor-Solanke also revealed that the organisation has built a powerful based philanthropic platform funded by Wema Bank saying that “I am happy that all our activities have been funded by Nigerian capital.
She further noted that NPO has secured grants from 100 companies to support job creation and economic growth in Nigeria, particularly within the MSME sector saying that NPO is geared towards generating one million jobs directly and indirectly within the MSME ecosystem.
She said NPO aims to mobilize $200 million in philanthropic support for MSMEs, particularly women-led businesses.
Babajide Olusola Sanwo-Olu, governor of Lagos State while saying that the government cannot do it alone, said Philanthropy by the private sector plays a crucial role in complementing government efforts by tackling social issues and enhancing the lives of our citizens.
“More importantly, it acts as a strategic tool for addressing youth unemployment, women empowerment and promoting sustainable job creation throughout our region.
Sanwo-Olu, represented at the occasion by Abimbola Salu-Hundeyin, Secretary to the State Government said “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.
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“This way, our contributions can be impactful, measurable, scalable, and sustainable. I want to take a moment to express my heartfelt gratitude to our South-West philanthropists, NGOs, and private sector partners who have united to explore practical ways to amplify philanthropy’s impact in Nigeria.
“Your financial contributions, time giving,volunteer efforts, and advocacy are making a real difference in our South West communities. Still, there is much to be done to ensure that resources are used responsibly and transparently, so that more beneficiaries can be reached and empowered.
To effectively tap into the transformative power of philanthropy, the governor said , we need to move from goodwill-based generosity to strategic, sustainable giving that aligns with the Sustainable Development Goals and embraces innovation, creativity and sustainable empowerment leading to sustainable growth of the society.
“So, Philanthropy should be transparent, accountable, and collaborative, building trust among communities and stakeholders alike.
