The Federal Government, in collaboration with international philanthropic organizations, has initiated a partnership to raise $200 million aimed at fostering job creation and supporting Micro, Small, and Medium Enterprises (MSMEs).
Temitola Adekunle-Johnson, Senior Special Assistant to the President on MSMEs and Job Creation, Office of the Vice President, revealed this development in a statement on Sunday in Abuja.
The funds mobilized through this partnership will be strategically invested in key programs and projects with the goal of generating employment opportunities across various targeted sectors and promoting growth in the MSMEs space.
Adekunle-Johnson highlighted the establishment of the Nigeria Philanthropy Office (NPO) as a significant step, marking the first private sector-led coordinating office within the Office of the Vice President.
The NPO is designed to facilitate high-level philanthropic support and impact investing for MSMEs, particularly focusing on sectors with substantial job creation potential.
The mandate of the newly established office aligns with President Bola Tinubu’s vision for job creation and the ongoing efforts of the administration in the MSME space.
Adekunle-Johnson emphasized that the NPO will play a crucial role in contributing to the Federal Government’s job creation objectives by collaborating with donors, impact investors, financial institutions, and foundations.
This collaboration aims to catalyze key interventions capable of employing numerous Nigerians.
The NPO will concentrate on providing both catalytic and non-catalytic support for entrepreneurs in various sectors, including fashion, irrigation solutions, solar panel facilities, agro-processing, mechanized industrial facilities, furniture, sustainable agribusinesses, and renewable energy solutions.
The office will support the establishment of 12 Mega Hubs and shared office spaces across the country.
Vice President Kashim Shettima has appointed an implementation committee for the NPO, consisting of local and international philanthropic organizations, financial institutions, and entities like the Bank of Industry (BOI), NEXIM Bank, Wema Bank, Access Bank, and the Nigeria Content Development Monitoring Board.
Ms Thelma Ekiyor-Solanke will serve as the Chairperson of the NPO and the implementation committee, leveraging her extensive experience in international development, philanthropy, and impact investment.
Ekiyor-Solanke, the current Chairperson of SME.NG and a member of Nigeria’s National Advisory Board on Impact Investing, will coordinate the secretariat for the committee.
With a law degree from the University of Buckingham, an MBA from Imperial College London, and ongoing doctoral studies at Cranfield University, UK, Ekiyor-Solanke brings a wealth of expertise to the role.