Nigerian philanthropists helping the country and youth

The task facing the government is highlighted by the fact that in a country where 43% of the population is under the age of 14 and a further 19% is between 15 and 25, over 50%, some 5.3 million youths are recorded as being out of work. Nigeria’s future is in the hands of its youth who must have access to quality education. Failing them risks alienating an entire generation, which might easily result in civil unrest and the rise of extremist political groups?

Speaking recently on the subject, the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, acknowledged that unemployment has consistently grown. The government was unable to accurately measure unemployment levels and the number of school and college dropouts entering the labour market. Consequently, it was impossible to devise a job creation strategy or make it easier for the private sector to expand by encouraging entrepreneurship.

As the government struggles to resolve these issues, a growing number of philanthropic Nigerian businessmen and women invest large portions of their wealth into ensuring the country’s youth have the opportunity to gain high quality education and achieve their maximum potential. 

Theopolus Danjuma

Theopolus Danjuma, the one-time Defence Minister, who became Chairman of South Atlantic Petroleum, founded the TY Danjuma Foundation. The foundation, which was set up with a $100m donation from Danjuma, promotes free healthcare, education and the elimination of poverty. It also encourages various groups and individuals to invest in the development of the country’s youth.

Tony Elumelu

Former CEO of UBA bank, Tony Elumelu, has invested millions in the Tony Elumelu Foundation. When Elumelu took over at UBA, it was a failing enterprise, yet with his guidance, the company managed to become a multinational success story, employing over 25,000 people. His foundation aims to do the same for some 1,000 SMEs, operated by entrepreneurs across the continent, by building them into wealth, employment and tax generating companies. 

Tunde Folawiyo

Having become the managing director of the Yinka Folawiyo Group, following the death of his father, Tunde has seen the company become one of the largest conglomerates in the country. A long-time supporter of Nigeria’s burgeoning film industry, he has donated millions to the African Leadership Academy (ALA), which he founded in 2004. The academy promotes future African leaders via its two-year entrepreneurial leadership course. Mr. Tunde Folawiyo’s blog is full of up-to-date information on the ALA and other areas in which he is active.

Funso Alakija

According to Forbes,Funso Alakija is the wealthiest black woman in the world and the country’s first female billionaire. The executive vice chairman of Famfa Oil, Funso has made a point of using her wealth to champion the cause of women and young people, especially widows and orphans, across Nigeria, by way of her charity–The Rose of Sharon Foundation.

It is significant to note that as long as there are philanthropists such as those mentioned, along with many others, there is hope that the current situation will be nothing more than a temporary glitch on the road to a brighter future for all Nigerians.

Cheryl Stevenson

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