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Enterprise Devt: Nigerian Government, NGOs partner to raise $200m for MSMEs, job creation

Vice-President Kashim Shettima (3rd left); Ms. Thelma Ekiyor-Solanke, Chairperson of NPO (2nd left); and Other Officals in Abuja, FCT

*The Federal Government plans to establish Nigeria Philanthropic Organisation to work with fund donors, impact investors, and financial institutions to support the establishment of 12 mega hubs to catalyse support for entrepreneurs in renewable energy, agro-processing, furniture, and fashion among others

Isola Moses | ConsumerConnect

The Federal Government says plans are underway to raise $200 million through the Nigeria Philanthropy Office (NPO) from international philanthropic organisations as part of Nigeria’s efforts at supporting Micro, Small, and Medium Enterprises (MSMEs), and creating jobs for the citizenry.

Temitola Adekunle-Johnson, Senior Special Assistant (SSA) to the President on MSMEs and Job Creation (Office of the Vice-President), in a statement issued Sunday, November 26, 2023, said the funds would be invested in key programmes and projects across different target sectors.

Adekunle-Johnson stated that the Presidency has also established the Nigeria Philanthropy Office as a private sector-led coordinating office to be domiciled in the office of the Vice-President to facilitate the initiative.

The Presidential aide also noted the NPO would work with donors, impact investors, and financial institutions to support the establishment of 12 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.

He also disclosed 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.”

Coordinating the NPO operations in economy

Adekunle-Johnson has disclosed Vice-President Shettima appointed Ms. Thelma Ekiyor-Solanke to chair the Nigeria Philanthropic Office while the SSA to the President on MSMEs and Job Creation to the President will coordinate the secretariat.

He stated: “She (Thelma Ekiyor-Solanke) 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.”

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