Dignitaries at the Philanthropy Summit organised by NPO and Odua Investment Company in Lagos on Friday.
Sanwo-Olu, Ashiru, NPO Advocate Philanthropy, Collaboration to Unlock Jobs, Economic Opportunities in South West
THECONSCIENCE NG reports that top dignitaries and experts from the private and public sectors have emphasised the various economic benefits that can be stimulated by well-coordinated philanthropy, especially job creation in the South West and across Nigeria.
These views were expressed at the first South West Philanthropy Summit in Nigeria, organised by the Nigeria Office for Philanthropy and Impact Investing (NPO) in conjunction with the Odua Investment Company Limited (OICL), the investment holding company owned by the six states of South West Nigeria.
Lagos State Governor, Mr Babajide Sanwo-Olu, during his keynote address at the Summit titled “South West Nigeria Is Open for Philanthropic And Impact Investments,” noted that beyond just giving, philanthropy is a strategic tool for addressing youth unemployment, women’s empowerment, and promoting sustainable job creation throughout our region.
He added, “However, to truly unlock its potential, philanthropy needs to shift from spontaneous acts of kindness to a more structured, data-driven approach that aligns with the Sustainable Development Goals. This way, our contributions can be impactful, measurable, scalable, and sustainable.”
He stated that the summit seeks not only to celebrate the spirit of giving but to dive deeper into the incredible impact that philanthropy has on our society and how it can drive sustainable, positive change.
The Governor, who was represented by the Secretary to State Government, Barrister Mrs Abimbola Salu-Hundeyin, commended the Chairman of the Summit and Group Chairman of OICL, Otunba Dr Bimbola Ashiru, describing him as “a remarkable leader and a savvy banker, deeply committed to community development, the fight against poverty, and whose vast experience in both public service and the private sector really showcases his dedication to fostering sustainable growth and impacting our region socially and economically.”
In his welcome address, Ashiru noted that the summit was the first of its kind and seeks to engage stakeholders and participants on the role of philanthropy in the South West Region of Nigeria.
He said, “The NPO’s mandate is to provide catalytic support for philanthropic efforts aimed at MSMEs in targeted sectors with high job creation potential. Given the role of MSMEs in any economy, this mandate presents a remarkable opportunity to effect economic change across the country.”
The Summit aims to catalyse and promote philanthropic efforts in the area of job creation in the South West Region, attracting focus and resources from across the globe. The region is ready for such attention.
This should be achieved through fostering collaboration, exploring diverse ideas and innovative solutions, and facilitating connections, relationships, and conversations that will continue well beyond this year.
He stated that philanthropy is a powerful tool for driving economic and social impact across the world. In Nigeria, there is an opportunity to better leverage philanthropy in these areas.
Dr Ashiru remarked that Odua Investment Company Limited is an investment holding company with a presence across multiple sectors, including real estate, agriculture, hospitality, and financial services, among others. It established the Odua Investment Foundation (OIF), a foundation focused on youth empowerment, healthcare, and education to give back to society in a direct and tangible way.
“It was therefore clear to us when we started engaging with the NPO that there are significant shared interests between both entities and that we share a common mission to deliver economic growth. In the year 2024, we therefore entered into a Memorandum of Understanding (MoU) to jointly promote philanthropic efforts in Nigeria, especially in the South West Region. This Summit was born out of this partnership,” he revealed.
He stated, “The South West Region is one that has the capacity to serve as a catalyst for the rest of the country in the area of economic growth and social models for job creation. If we can develop models that promote the development of MSME capacity and growth through philanthropy, social and impact investing, and other innovative solutions that deliver significant impact in the South West, we can easily replicate these across the rest of the country.
“In the end, we should develop and adapt homegrown models that seek to replicate the successes recorded in other emerging and developing countries across the world. We want change, but we want change on a significant scale. If we can address job creation and support MSMEs for sustainable growth, we can essentially transform the economy of not only the region but that of the country, and possibly the continent. I believe that a high-growth Nigeria is good for the entire African continent.”
The Chairperson of the NPO, Mrs Thelma Ekiyor-Solanke, stated that philanthropy should never be confused with charity, as the former is a strategic tool with economic benefits beyond just giving.
In a presentation titled “The State of Philanthropy in Nigeria: Trends and Opportunities,” she enumerated numerous strategic opportunities inherent in well-coordinated philanthropy for the South West region as well as the nation and appealed to both private and public sector players to cooperate with the NPO to achieve its mandate.
Ekiyor-Solanke added that the Bola Tinubu administration is focused on harnessing growth through coordinated philanthropy and has given full support to the office.
Denim Richards, an award-winning Hollywood actor and CEO of Opulent Entertainment, said with proper coordination and synergy, the entertainment industry can create more rewarding jobs and careers for millions of young Nigerian creative minds.
He expressed the readiness of his company, which operates across the United States, China, and South Africa, to partner with the NPO and other organisations in Nigeria for actionable alliances that would yield great economic prosperity for Nigerian youths, whom he described as highly talented and versatile.
Speaking on the rising global influence of Nigeria’s creative industry, he said, “To me, the power of the entertainment industry is huge. It’s not just storytelling, but it’s job creation, global influence, and economic transformation. Nigeria is what we would call an untapped oil mine, if you will. Now we are sitting on a $2.2 trillion global intellectual property industry. Imagine what 5% of $2.2 trillion would do for the country’s GDP. Now this is very important, because Nollywood is already the second largest industry in the world by volume, but now we must scale beyond quantity and focus on quality, which means that we have to invest in training, equipment, and infrastructure.”
Dr Segun Ogunsanya, Chairman of Airtel Africa Foundation, highlighted the importance of collaboration between the private and public sectors in making philanthropy work effectively for Nigeria’s economic growth.
The Summit also witnessed an official launch of a partnership between NPO and Nigerians in Diaspora Commission NIDCOM led by Hon Abike Dabiri.
The one day event also witnessed several high powered panel discussions on job creation, MSMEs, economy, social investing, women, youths and philanthropy.
