Odu’a Investment and Philanthropy Office Forge Alliance to Boost MSME Funding in South-West Nigeria
In a strategic move to bolster funding for Micro, Small, and Medium Enterprises (MSMEs) in South-West Nigeria, Odu’a Investment Company Limited and the Nigerian Office for Philanthropy and Impact Investing have inked a Memorandum of Understanding (MoU).
This landmark agreement, formalized on Monday at the Job Creation and MSME Secretariat in Abuja, aims to inject much-needed capital into critical sectors such as agriculture, renewable energy, fashion, and furniture manufacturing.
Chairperson of the Nigeria Office for Philanthropy and Impact Investing, Mrs. Thelma Ekiyor-Solanke, underscored the significance of the MoU as a pivotal step in the office’s mandate to collaborate with key stakeholders. “We are pleased to work with our first batch of partners, engaging in different areas of interest. This collaboration allows each party to bring their expertise, creating a cohesive effort,” Ekiyor-Solanke stated. She expressed optimism that the partnership would unlock substantial skills and capacity-building opportunities, potentially inspiring further collaborations to address unemployment and its associated social issues.
Representing Odu’a Investment, Group Managing Director/Chief Executive Officer Mr. Abdulrahman Yinusa highlighted the MoU’s role in advancing “impact investing” within the region. “Economic development transcends mere statistics; it encompasses achieving social goals. This partnership aims to foster sustainable development, ensuring employment and environmental stewardship alongside financial returns,” Yinusa articulated.
The significance of the MoU was also echoed by Mr. Tola Johnson, Senior Special Assistant to President Bola Tinubu on Job Creation and MSMEs, who hailed it as a crucial milestone in fulfilling the President’s commitment to job creation.
Odu’a Investment, jointly owned by the six South-West states, stands poised to drive this transformative initiative, setting a benchmark for public-private partnerships in Nigeria.
