Odu’a Investment Company Limited, in collaboration with the Nigeria Philanthropy Office, recently hosted the maiden South West Philanthropy Summit in Lagos, designed to enhance various sectors of Nigeria’s economy, create job opportunities for the nation’s youth, and provide financial support to Micro, Small, and Medium Enterprises through philanthropic efforts.

In a statement made available to our correspondent on Tuesday, it was stated that the summit, which attracted financial leaders, government officials, and development partners from across the globe, was a step in driving economic growth and social change within the Southwest region of Nigeria. It was jointly sponsored by Odu’a Investment and the NPO in the Office of the Vice President.

The Group Chairman of Odu’a Investment and Chairperson of the Summit, Bimbo Ashiru,  emphasised the importance of philanthropy in driving both social and economic change.

Speaking during his address, Ashiru stated, “Philanthropy is a powerful tool for economic transformation. This summit provides a unique opportunity for stakeholders to engage in finding sustainable ways to use philanthropy to support MSMEs, the backbone of any economy.”

Ashiru further noted that the NPO’s mandate focuses on catalyzing philanthropic efforts aimed at MSMEs in sectors with significant job creation potential.

“This mandate has the potential to lead to substantial economic change across the country,” he added.

In a special address, Lagos State Governor Babajide Sanwo-Olu, represented by the Secretary to the State Government, Abimbola Salu-Hindeyin, stressed the role of the private sector in complementing government efforts to address pressing social issues.

Sanwo-Olu pointed out, “Philanthropy, when structured effectively, can help tackle critical issues such as youth unemployment and women’s empowerment, and can play a crucial role in promoting sustainable job creation throughout the region.”

The Chairperson of the Nigeria Office for Philanthropy & Impact Investing, Thelma Ekiyo-Solanke, highlighted the progress made in building infrastructure for philanthropy, with several memoranda of understanding signed with private sector companies.

She expressed optimism about the potential for these efforts to bring about meaningful change, particularly through the creation of over 100 grants for MSMES in partnership with financial institutions such as Wema Bank.

Additionally, the Special Adviser to the President on Job Creation and MSMES, Tola Johnson, underscored the federal government’s commitment to supporting philanthropic initiatives aimed at addressing the country’s job creation challenges.

“Nigeria’s vast population means we cannot afford to lag behind in terms of creating job opportunities. We are fully committed to ensuring that these initiatives succeed,” he stated.

The PUNCH reported that Odu’a Investment Company Limited and the Nigerian Office for Philanthropy and Impact Investing have signed a Memorandum of Understanding to strengthen funding for MSMES in the South-West states in critical sectors, including agriculture, renewable energy, fashion, and furniture manufacturing.