Temitola Adekunle-Johnson, the Senior Special Assistant to the President on MSMEs and Job Creation, announced that the funds will be allocated to various programs and projects in targeted sectors.

Adekunle-Johnson further revealed the establishment of the Nigeria Philanthropic Organisation (N.P.O), a private sector-led coordinating office based in the vice president’s office.

 This entity will collaborate with donors, impact investors, and financial institutions to facilitate the creation of twelve mega hubs nationwide. These hubs aim to catalyze support for entrepreneurs in sectors such as renewable energy, agro-processing, furniture, and fashion.

“The funds raised will be invested in key programs and projects that will create opportunities for employment across different target sectors and facilitate growth in the MSMEs sector,” added Adekunle-Johnson.

Vice President Kashim Shettima has appointed Thelma Ekiyor-Solanke to chair the Nigeria Philanthropic Organisation, with the S.S.A. to the President on MSMEs and Job Creation overseeing its secretariat.

Ekiyor-Solanke currently chairs SME.NG, is a member of Nigeria’s National Advisory Board on Impact Investing (NABII), and serves as the Chairperson of the Centre for Analytics and Behavioural Change (CABC) in South Africa.