Business & Economy News

FG Establishes Philanthropic Organization, to Raise $200m For Job Creation, Support MSME

The presidency has also established the Nigeria Philanthropic Organisation (N.P.O) a private sector-led coordinating office to be domiciled in the office of the vice president, to facilitate the initiative.

The Federal Government has set plans in motion to raise N200m from philanthropic organisations as part of efforts to create jobs and support Micro, Small, and Medium Enterprises (MSMEs).

A statement by Temitola Adekunle-Johnson, the Senior Special Assistant to the President on MSMEs and Job Creation, Office of the Vice President said the funds will be invested in key programmes and projects across different target sectors.

He said the presidency has also established the Nigeria Philanthropic Organisation (N.P.O), a private sector-led coordinating office to be domiciled in the office of the vice president, to facilitate the initiative.

The body, Adekunle-Johnson noted, will work with donors, impact investors, and financial institutions to support the establishment of twelve mega hubs across the country and catalyse support for existing and new entrepreneurs in renewable energy, agro-processing, furniture, and fashion among other areas of the economy.

“The funds raised will be invested in key programmes and projects that will create opportunities for employment across different target sectors and facilitate growth in the MSMEs sector,” he added.

According to him, Vice President Kashim Shettima has appointed Thelma Ekiyor-Solanke to chair the Nigeria Philanthropic Organisation while the S.S.A. to the President on MSMEs and Job Creation is to coordinate its secretariat.

“She is the current Chairperson of SME.NG. She is a member of Nigeria’s National Advisory Board on Impact Investing (NABII) and the Chairperson of the Centre for Analytics and Behavioural Change (CABC) in South Africa,” the statement read.

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