Bimbo Ashiru, group chairman, Odua Investment Company Limited, has called for the development of models that promote the development of Micro, Small and Medium Enterprises (MSMEs) capacity and growth through philanthropy, social and impact investing.
Speaking at the South West Philanthropy summit jointly organised by the Nigeria Philanthropy Office (NPO) in the office of the Vice President, and Odu’a Investment Company Limited, the investment holding company owned by the six states of Southwest Nigeria held in Lagos, he said, “We should develop and adapt homegrown models that seek to replicate the successes recorded in other emerging and developing countries across the world”.
The group chairman noted that other innovative solutions that deliver significant impact in the Southwest could easily be replicated across the rest of the country.
“In the end, we want change, but we want change at a significant scale. If we can address job creation and support MSME for sustainable growth, we can essentially transform the economy of not only the region, but that of the country and possibly the continent,” he said.
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.
He also added that a high growth Nigeria is good for the entire Africa.
“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 with footprints across multiple sectors including real estate, agriculture, hospitality, financial services amongst others. It established Odu’a Investment Foundation (OIF), a foundation focused on youth empowerment, healthcare and education in order to give back to society in a direct and tangible way.
“It was 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 2024, we entered into a Memorandum of Understanding (MoU) to jointly promote philanthropic efforts in Nigeria, especially in the Southwest Region,” Ashiru said.
He stated that the summit was born out of the partnership and to provide an opportunity to beam searchlight on philanthropy and its expanding role in transforming lives.
“The South West Philanthropy Summit aims to provide a platform to discuss ideas with the potential to contribute exponentially to philanthropy especially in ways that can help address the problem of unemployment in the region. 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.
“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,” he said.
Thelma Ekiyor-Solanke, chairperson, Office for Philanthropy and Impact Investing (NPO) disclosed that since the Vice President Kashim Shetima inaugurated NPO last year, it has been able to forge eight strategic partnerships.
Ekiyor-Solanke also revealed that the organisation has built powerful based philanthropic platform funded by Wema Bank saying that “am happy that all our activities has been funded by Nigerian capital.
She further noted that NPO has secured grant from over 100 companies saying that organisation is bent on creating jobs and promoting MSMEs.
Babajide Olusola Sanwo-Olu, governor of Lagos State, while saying that government cannot do it alone, said 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.
“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. 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,” he said.
