The Nigerian government is taking steps to secure $200 million from philanthropic organizations to enhance job creation and support Micro, Small, and Medium Enterprises (MSMEs). Temitola Adekunle-Johnson, the Senior Special Assistant to the President on MSMEs and Job Creation, revealed that the funds will be allocated to targeted programs and projects across various sectors.

In pursuit of this initiative, the presidency has established the Nigeria Philanthropic Organisation (N.P.O), a private sector-led coordinating office within the office of the vice president. Adekunle-Johnson emphasized that the N.P.O will collaborate with donors, impact investors, and financial institutions to establish twelve mega hubs nationwide.

These hubs are designed to provide support for both existing and new entrepreneurs, with a focus on sectors like renewable energy, agro-processing, furniture, and fashion, contributing to overall economic growth.

Adekunle-Johnson explained, “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.”

Vice President Kashim Shettima has appointed Thelma Ekiyor-Solanke as the chairperson of the Nigeria Philanthropic Organisation, with the responsibility of coordinating its secretariat. Ekiyor-Solanke, currently the Chairperson of SME.NG, is also 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.