The Lagos Chamber of Commerce and Industry in collaboration with the Nigeria Philanthropy Office has opted for job creation as a tool to address the economic hardship in the country.
This was disclosed during a webinar on Tuesday themed ‘Stimulating Corporate Philanthropy and Impact Investing for Job Creation in Nigeria,’ which was hosted by the Nigeria Philanthropy Office, in collaboration with the Impact Investors Foundation and the Lagos Chamber of Commerce and Industry.
The LCCI Director General, Chinyere Almona, said the LCCI was willing to partner with NPO to see more member organisations invest in people and their communities.
Almona said, “The LCCI has four pillars of reference to impact investing.
“There is the macro-level pillar, where the chamber organises workshops and seminars, examines case studies and tells success stories and the legal pillar which encourages a legal framework for organisations and legislation of other guidelines.”
She noted that at the intermediary pillar, the LCCI would work with companies as philanthropy consultants and impact investing advisors.
She added, “For the firm-level pillar, LCCI will offer training programmes for employees and improve corporate culture and values in member organisations.”
Speaking on bridging the developmental gap in the country, the keynote speaker, who is also the Chairman of Odua Investment Company, Bimbo Ashiru, illustrated how Odua Investment Foundation was bridging the gap by creating a positive change through youth empowerment, healthcare and digital education for young children to equip them with the skills they need for the future.
He, thereafter, urged organisations to go beyond philanthropy and engage their communities to address critical social challenges.
He said, “Corporate philanthropy and impact investing have the potential of becoming a more integral and impactful instrument for building a more sustainable society.
“Both can improve national productivity one investment at a time, but more importantly, they can catalyst the long-term growth of the economy and job creation.”
The Chief Executive Officer, Impact Investors Foundation, Etemore Glover, said addressing Nigeria’s developmental issues demanded investment and development that was inclusive.
“It is beyond the capacity of governments to provide and achieve such development alone.
“This makes it necessary to leverage the contributions corporate philanthropy can make to investment and development in Nigeria,” Glover said.
She further highlighted the strategic integration of philanthropy within the broader spectrum of impact capital.
She noted, “Philanthropy is one of the spectrums of impact capital, and when it is well blended into impact capital, it will yield better capital flows for Nigeria.”
Meanwhile, the Chairperson, Nigeria Office for Philanthropy and Impact Investing, Thelma Ekiyor-Solanke, said the event was an opportunity to share best practices on the role corporate philanthropy and impact investing play in driving positive societal change.
She assured, “NPO, which is a private-led coordinating office, operating in the Office of the Vice President, and its partners are committed to promoting corporate philanthropy and impact investing to create a more inclusive and prosperous society for all.”
