(http://fmi.gov.ng/wp-content/uploads/2013/03/ngozi-okonjo-iweala--300x199.jpg) As part of its renewed efforts to transform the Nigerian economy, the Federal Government is collaborating with the Tony Elumelu Foundation so as to get a strategic approach to philanthropy in Nigeria.
This was disclosed by the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, at the Nigerian Philanthropy Summit, held in Abuja on March, 18, 2013.
The Minister explained that there are many foundations in the country and they give donations for different causes without really making an impact adding that many of them like Tony Elumelu Foundation are partnering with the government in working out ways they can help in complementing what government is doing or where government is not even present at all, so as to key into these activities and make impact on the lives of the people through the medium of philanthropy. "One of the objectives of the summit was to encourage philanthropists to pull their resources in order to make a greater impact on the society."
Dr. Okonjo-Iweala further explained that the objective of the meeting is not for donation of money but philanthropists to share ideas together; coordinate donations for development and present a map for charting a way forward in the area of Education, Health, Job Creation, Agriculture, reduction of poverty and other sectors where they can make impact. She described the structure of partnership as "A not typical government office" as it will be driven by the private sector.
It was disclosed by CME/HMF that the target estimation of structured output in terms of donations of the foundation is about 0.1 to 0.3 per cent of the Gross domestic Product (GDP), saying that it will be decided in subsequent meetings to jointly provide an office where people can always get information. The CME disclosed that with the coming together of the various donor organizations, it would be easier for government to put together appropriate tax incentives for them as an encouragement.
Via: Federal Ministry of Information (FMI) Nigeria