Odu’a Investment, NOP Move to  Address Unemployment, Poverty in South-east

Sunday Okobi

Odu’a Investment Company Limited, the investment holding company owned by the six states of South-west in collaboration with the Nigerian Office for Philanthropy (NOP) at the weekend stated that the maiden South West Philanthropy Summit was organised to address the menace of unemployment, poverty and lack of investment from the region, as well as engage stakeholders on the role of philanthropy in the region.

The organisation stated that the summit, which was the first of its kind, was borne out of the ideals of partnership to provide an opportunity to beam the searchlight on philanthropy and its expanding role in transforming lives of the people of the region and Nigeria at large.

Meanwhile, the Lagos State Governor, Babajide Sanwo-Olu suggested that to effectively tap into the transformative power of philanthropy, “we need to move from goodwill-based generosity to strategic, sustainable giving that aligns with the Sustainable Development Goals and embraces innovation creativity and sustainable empowerment leading to sustainable growth of society.”

In his address at the summit held  in Ikeja, Lagos, the Group Chairman of the Odua Investment Company Limited, Otunba Bimbo Ashiru, said a part of the objectives of the South West Philanthropy Summit was to provide a platform “to discuss ideas with the potential to contribute exponentially to philanthropy especially in ways that can help address the problem of unemployment in the region. The Summit seeks to achieve this by fostering collaboration, exploring diverse ideas and innovative solutions, and facilitating connections, relationships and conversations that will continue well beyond this year.

“Odu’a Investment Company Limited is an investment holding company with foot prints across multiple sectors, including real estate, agriculture, hospitality, financial services amongst others. It established Odu’a Investment Foundation (OIF), a foundation focused on youth empowerment, healthcare and education in order to give back to society in a direct and tangible way.

“It was, therefore, very clear to us when we started engaging NOP that there are significant shared interests between both entities and that we share a common mission to deliver economic growth.”

“In 2024, we therefore, entered into a Memorandum of Understanding (MoU) to jointly promote philanthropic efforts in Nigeria, especially in the Southwest region.”

Ashiru stated further that the summit was jointly organised by NOP  in the Office of the Vice President, and Odu’a ICL, adding that the NOP’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,” he stated.

The group chairman noted that they hope the summit would catalyse and promote philanthropic efforts in the area of job creation in the Southwest region, attracting focus and resources from across the globe, adding that the region is ready for such attention.

According to him, “Some of the thematic areas we will focus on include partnerships especially between public and private sector actors, innovative job creation strategies, social and impact investing, and local and international collaborations.

“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 Southwest, 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 at a significant scale. If we can address job creation and support MSME 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 Africa continent.”

He posited that philanthropy is a great tool for driving economic and social impact across the world, adding that in Nigeria, there is an opportunity to better leverage philanthropy in those areas mentioned above.

In his keynote address, Governor Sanwo-Olu, said the summit was not just to celebrate the spirit of giving; “we are diving into the incredible impact that philanthropy has on our society and how it can drive sustainable, positive change.”

While hailing Otunba Ashiru as a remarkable leader and a savvy banker, deeply committed to community development, he said his vast experience in both public service and the private sector has really showcased his dedication to fostering sustainable growth and impacting the region socially and economically.

According to the governor, who was represented by the Secretary  to the State Government (SSG), “Philanthropy is love, care, and selfless service to others; it is a demonstration of the real Omoluabi that South Westerners are known for-accommodating, looking out for each other and always giving a helping hand to our neighbours.”

He added that philanthropy is rooted in the Yoruba culture and tradition, and “we can channel this energy in a more structured manner.”

He said Lagos is so highly populated…”so our policies support the vulnerable, and our THEMES PLUS Developmental Agenda is a testimony of our passion to serve the people of this great state and give opportunities for everyone to fulfill their potential.

“But the government cannot do it alone; philanthropy by the private sector plays a crucial role in complementing government efforts by tackling social issues and enhancing the lives of our citiens.

“More importantly, it acts as a strategic tool for addressing youth unemployment, women empowerment and promoting sustainable job creation throughout our region.

“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 (SDG). This way, our contributions can be impactful, measurable scalable, and sustainable.

“I want to take a moment to express my heartfelt gratitude to our Southwest philanthropists, NGOs, and private sector partners who have united to explore practical ways to amplify philanthropy’s impact in Nigeria.

“Your financial contributions, time giving, volunteer efforts, and advocacy are making a real difference in our South West communities. Still, there is much to be done to ensure that resources are used responsibly and transparently, so that more beneficiaries can be reached and empowered.”

Sanwo-Olu suggested that to effectively tap into the transformative power of philanthropy, “we need to move from goodwill-based generosity to strategic, sustainable giving that aligns with the Sustainable Development Goals and embraces innovation creativity and sustainable empowerment leading to sustainable growth of society.

Philanthropy should be transparent, accountable, and collaborative, building trust among communities and stakeholders alike.

“Our administration is firmly committed to this vision, and you can see it in our strong investments aimed at empowering vulnerable communities. Take the Micro Enterprise Support Initiative (MESI), for instance; it has provided youths with the resources they need to become entrepreneurs. By working together, and with supportive policies and partnerships, we can open up economic opportunities for everyone, tackle youth unemployment, and create a society built on dignity love and shared prosperity.”

Also, the Chairman of  NOP, Mrs. Thelma Ekiyor Solanke, in her interview with journalists, disclosed that after one year of the inauguration of the office by the vice president, “we have been able to forge eight strategic partnership; we have built the first web-based philanthropic platform funded by Wema Bank, and we are pleased to say that all our activities have been funded by Nigerian Capital; we have been able to secure grant for 100 companies. “This is just the first as it has never been done before, and it is important to build the frame work to do this. And we are delighted that we have some results.”

On the potential challenge that might befall the project, Solanke, however, said the only impediment that can affect the project is the lack of participation by key stakeholders.

She however advised that: “The government must able to give us the conducive environment to succeed, the private sector must decide to be intentional in doing strategic philanthropy by allocating a significant percentage of their profit annually. We want to have different partners getting involved, and that is why we have the state governor here and three commissioners from South-west states and others from the Diaspora. Once we have multiple partners, then it can be sustained. This is for job creation; the same thing can be done for health and other sectors, but it requires the input of the private sector, philanthropists, investors, and entrepreneurs to everything fall in place.”

 In her remarks, the Chairman, Nigerians in Diaspora Commission (NiDCOM), Abike Dabiri, said: We are talking philanthropy here, and we are saying that the people should can come together to help small businesses. As those in the Diaspora, we can give back to the people in need. So that’s the partnership. It is all about giving back; it is all about banishing poverty which should not be a lasting thing among our people. Let the rich help the poor, and let’s come together as a community to help one another, and that is why we are here today. There are so much Nigerians in Diaspora can do back home, therefore, this summit offers the platform to do that.”