Odu'A Investment, Nigerian Philanthropy Office Sign Mou for Msmes Funding

credit: From Wikipedia

President Muhammadu Buhari's promise to create 2 million jobs over the next three years appears to be on track.

The Guardian reports that within the next 60 days, the president is expected to sign an order creating 200,000 jobs in six states in the southwest of the country, which has some of the highest unemployment in Nigeria.

The job creation initiative is a joint effort by the president's office, the Office of the Vice President for Philanthropy and Impact Investing, and the Makin'a Investment Company.

"We see economic development as an essential combination between meeting statistics and also achieving social goals, so this partnership is supposed to give us an opportunity to actually have what we call impact investing," Abdulrahman Yinusa, the company's managing director, tells the Guardian.

"In impact investing, you want to go beyond the profit and loss, and go into how much people are getting employed and how sustainable are the developments.

This partnership is supposed to help go beyond making money but to get jobs for our people and after the environment," a senior special assistant to the president said at the signing of a memorandum of understanding between the two organizations.

The Guardian notes that the southwestern states have some of the highest rates of unemployment in Nigeria, with 20% of the population out of work.

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