The Federal Government is planning to solicit N200 million from charitable groups in an effort to boost employment and provide assistance to Micro, Small, and Medium-Sized Enterprises (MSMEs).
According to a statement from the Office of the Vice President’s Senior Special Assistant to the President on MSMEs and Job Creation, Temitola Adekunle-Johnson, the funding will be allocated to significant initiatives and activities in a variety of target industries.
In order to support the programme, he said, the presidency also established the Nigeria Philanthropic Organisation (N.P.O.), a private sector-led coordination agency to be based in the vice president’s office.
Adekunle-Johnson stated that the organisation will collaborate with financiers, impact investors, and donors to support the creation of twelve mega hubs around the nation and to spark support for both new and established business owners in industries such as fashion, furniture, agro-processing, renewable energy, and furniture.
“Key programmes and projects that will create opportunities for employment across different target sectors and facilitate growth in the MSMEs sector will be invested with the funds raised,” he continued.
He claims that Thelma Ekiyor-Solanke, the Vice President Kashim Shettima’s appointee, will serve as the chair of the Nigeria Philanthropic Organisation, and the Special Assistant to the President for MSMEs and Job Creation will oversee the secretariat.
She is SME.NG’s current chairperson. She chairs the Centre for Analytics and Behavioural Change (CABC) in South Africa and is a member of the National Advisory Board on Impact Investing (NABII) in Nigeria, according to the release.
