# Shettima Inaugurates Nigeria Philanthropic Office, Promises 50% Grants for Women
Vice President Kashim Shettima has recently inaugurated the inaugural Nigeria Philanthropy Office (NPO), aiming to collaborate with global philanthropic organizations to raise $200 million. This initiative is tailored to fuel job creation and bolster Micro, Small, and Medium Enterprises (MSMEs) in Nigeria. The office, fully backed by the private sector and with government support, represents a pivotal step towards alternative funding for vital economic programs, aligning with President Bola Tinubu’s administration’s vision.
Under the NPO’s ambit, the setup of 12 industrial value-chain hubs and startup accelerators across Nigeria’s six geopolitical zones is anticipated. Shettima ensured the NPO’s prosperity under the Tinubu administration, highlighting President Bola Tinubu’s unwavering commitment to societal betterment and philanthropy, which has been a defining trait of his identity. The NPO, primarily private sector-driven, aims to raise $200 million in grants and non-financial investments to buoy startups within key sectors of Nigeria’s MSME landscape, pivotal for job creation.
Acknowledging the prevailing inadequacy in philanthropy, Vice President Shettima underscored the NPO’s role in rekindling support for vulnerable enterprises, emphasizing the indispensable collaboration between governments and private entities steered by empathy. With the NPO’s private sector impetus and government endorsement, the focus is on creating digitized shared workspaces, agro-processing, and shared industries, ultimately intending to generate one million jobs within the MSME ecosystem directly and indirectly.
The NPO aims to dispense grants ranging from five to ten million naira to eligible MSMEs, with a strong emphasis on supporting women-led businesses, constituting 50% of the startups. As the Local Implementation Committee of the NPO was inaugurated, Governor Sheriff Oborevwori of Delta State, representing the 36 state governors, expressed optimism about the initiative’s widespread benefits and pledged their full support.
The Ministry of Budget and Economic Planning lauded the Vice President for spearheading this initiative, emphasizing its alignment with the administration’s objectives. Meanwhile, the Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Aniete, hailed the NPO’s realization as a monumental step towards impacting lives, livelihoods, and the economy at large.
The committee, steered by Thelma Ekiyor-Solanke, the Country Chairperson of the NPO, boasts of influential figures from the banking, investment, and entrepreneurial spheres, promising a holistic approach towards its objectives. The NPO’s inception signifies an essential stride in supporting MSMEs, encouraging innovation, and providing catalytic capital to entrepreneurs, as emphasized by Thelma Ekiyor-Solanke.
With the NPO, Nigeria charts a course towards economic empowerment and sustainable development by leveraging philanthropy and impact investing, underscoring the power of collaborative action in propelling societal progress.
