Prof. Victor Ukaogo, a prominent academic and policy expert, recently delivered a significant presentation on the importance of establishing a comprehensive policy framework for impact investing and philanthropy.
His address, which took place at the National Assembly, was attended by key representatives from the Office of the House of Representatives.
In his speech, Ukaogo underscored the essential role of a structured policy in facilitating sustainable development and economic growth.
He advocated for policies that not only attract both international and local investments but also ensure that these investments produce enduring social and economic benefits.
He highlighted the need for creating a supportive environment where philanthropic activities can thrive and effectively contribute to national development objectives.
This perspective aligns with the Federal Government’s recent initiatives aimed at stimulating economic growth through strategic partnerships and investments.
A key example is the establishment of the Nigeria Philanthropy Office (NPO) by the Presidency. The NPO’s goal is to mobilize $200 million to support Micro, Small, and Medium Enterprises (MSMEs).
Located within the Office of the Vice President, the NPO aims to coordinate high-level philanthropic support and impact investment to foster job creation and economic opportunities across various sectors, including fashion, renewable energy, and agribusiness.
The creation of the NPO reflects the government’s commitment to harnessing private sector resources for public benefit.
Temitola Adekunle-Jalnson, Senior Special Assistant to the President on MSMEs and Job Creation, emphasized that the office would provide catalytic support for entrepreneurs and establish large hubs and shared office spaces nationwide.
This initiative is expected to play a crucial role in achieving the administration’s job creation goals and promoting substantial growth within the MSME sector.
Prof. Ukaogo’s address has paved the way for ongoing discussions and actions aimed at implementing effective policies that integrate philanthropic efforts with national development strategies.
As Nigeria addresses its economic challenges, such frameworks will be vital for fostering sustainable development and inclusive growth.
