Tuesday, April 23, 2024

FG partners international donors to raise $200 million for MSMEs

The committee comprised local and international philanthropic and impact investing organisations.

• November 26, 2023
President Bola Tinubu
President Bola Tinubu

The Federal Government in collaboration with international philanthropic organisations has partnered to raise $200 million to create jobs and support the Micro, Small and Medium Enterprises.

Senior Special Assistant to the President on MSMEs and Job Creation, Office of the Vice President, Mr Temitola Adekunle-Johnson, made this known in a statement on Sunday in Abuja.

Mr Adekunle-Johnson said that the funds raised would be invested in key programmes and projects that would create opportunities for employment across different target sectors and facilitate growth in the MSMEs space.

” Further to this, the presidency has established the first ever Nigeria Philanthropy Office– a private sector-led coordinating office domiciled in the office of the Vice President.

” The office will facilitate this high level philanthropic support and impact investing for Micro, Small and Medium Enterprises for targeted sectors that have high job creation potential.

“The mandate of the new office aligns with the job creation vision of President Bola Tinubu and the administration’s ongoing work in the MSME space. “

Mr Adekunle-Johnson also said the office will contribute towards achieving the Federal Government’s job creation goals by working with donors, impact investors, financial institutions, and foundations.

He said, “This will enable them to catalyse key interventions with potential for employing many Nigerians. The office will specifically focus on providing catalytic and non-catalytic support for existing and new entrepreneurs in the following sectors:

” Fashion entrepreneurs, irrigation solution, solar panel facilities, agro processing, mechanised industrial facilities, furniture entrepreneurs, sustainable agribusinesses, renewable energy solutions.”

Mr Adekunle-Johnson added the office would support the establishment of 12 mega hubs and shared office spaces across the country.

He disclosed that the Vice President Kashim Shettima had appointed an implementation committee for the office.

“The committee consists of local and international philanthropic and impact investing organisations, financial institutions and the Bank of Industry, NEXIM Bank, Wema Bank, Access Bank and the Nigeria Content Development Monitoring Board,” he added.

He said that Ms Thelma Ekiyor-Solanke will serve as the Chairperson of NPO and the implementation committee.

He added that Ekiyor-Solanke has over 23 years experience working in the international development, philanthropy and impact investment sectors.

He stated, “She is the current chairperson of SME.NG. She is a member of Nigeria’s National Advisory Board on Impact Investing and the chairperson, Centre for Analytics and Behavioural Change in South Africa.

” Ekiyor-Solanke has a law degree from the University of Buckingham, an MBA from Imperial College London and is currently completing a doctorate at Cranfield University, UK.”

Mr Adekunle-Johnson revealed that the secretariat for the committee would be coordinated by the Senior Special Assistant to the President on MSMEs and Job Creation.

(NAN)

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

Katsina State

Politics

Katsina youths pledge to deliver over 2 million votes to Atiku

“Katsina State is Atiku’s political base because it is his second home.”

World

Iraq rules out missile strike in explosion at military base

A statement by the Security Media Cell, a media outlet affiliated with the Iraqi Joint Operations Command, explained that the explosion was from an ammunition and missile depot.

Mosquitoes

Health

WHO Global Malaria Programme launches new operational strategy

Progress towards critical targets of the WHO Global technical strategy for malaria 2016-2030 has stalled, particularly in countries with a high burden of the disease

Bandits attack

Rights

U.S. spent $15 million, trained 46,000 on dispute resolution in Northern Nigeria: Embassy

The CIPP programme has helped mitigate violent conflict in at-risk communities and engaged women and youth in peace processes.

Ikeja Domestic Violence and Sexual Offences Court

Rights

Lagos software engineer gets life imprisonment for raping 13-year-old girl

Mr Oshodi also held that the alibi and the issue of extortion, which the convict relied on, did not hold water.

Oyo State governor, Seyi Makinde

States

Demographic Survey: NPC says 22 of 25 LGAs in Oyo covered

The National Population Commission says it has concluded the 2023/2024 Nigeria Demographic and Health Survey (NDHS) in 22 of 25 LGAs in Oyo.