Prof. Victor Ukaogo
Renowned academic and policy expert, Prof. Victor Ukaogo, has delivered a compelling discourse yesterday on the necessity of a comprehensive policy framework for Impact Investing and Philanthropy.
By Sonia Orjiako
Speaking at a high-level session attended by key stakeholders from the Office of the Vice President and the House of Representatives recently, Ukaogo emphasized on the crucial role of structured policies in driving sustainable development and economic growth.
The session, held at the National Assembly, focused on formulating strategies to harness the potential of impact investments and philanthropic efforts. Prof. Ukaogo highlighted the need for policies that not only attract international and local investments but also ensure that these investments yield substantial social and economic returns. He emphasized the importance of creating an enabling environment where philanthropic activities can thrive and contribute meaningfully to national development goals.
This initiative aligns with recent efforts by the Federal Government to bolster economic growth through strategic partnerships and investments. Notably, the Presidency has established the Nigeria Philanthropy Office (NPO), aimed at mobilizing $200 million to support Micro, Small, and Medium Enterprises (MSMEs). This office, housed within the Office of the Vice President, seeks to coordinate high-level philanthropic support and impact investment, driving job creation and economic opportunities across various sectors including fashion, renewable energy, and agribusiness.
Temitola Adekunle-Johnson, Senior Special Assistant to the President on MSMEs and Job Creation
The creation of the NPO is an evidence to the government’s commitment to leveraging private sector resources for public good. Temitola Adekunle-Johnson, Senior Special Assistant to the President on MSMEs and Job Creation, stated that the office would focus on providing catalytic support for entrepreneurs and establishing mega hubs and shared office spaces nationwide. This initiative is expected to significantly contribute to the administration’s job creation vision and facilitate substantial growth in the MSME sector.
Prof. Ukaogo’s remarks have set the stage for further dialogue and action on implementing effective policies that integrate philanthropic efforts with national development strategies. As Nigeria continues to navigate its economic challenges, such frameworks are crucial in fostering sustainable development and inclusive growth.
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