Shettima, Experts Advocate Use Of Philanthropy for Sustainable Socio-Economic Impact

Vice President Kashim Shettima and experts have called for the proper application of philanthropy to achieve sustainable socio-economic impact in Nigeria and across the African continent.

They made the call at the opening of the 3rd International Conference of the Dawood Research Institute, Jos, in partnership with Nasarawa State University, Keffi; the University of Jos; Sule Lamido University; the Zakat Foundation Institute, among others, in Abuja on Tuesday.

The conference, themed “Contemporary Practices of Philanthropy in Africa: Prospects and Challenges,” seeks, among other objectives, to create a continental ecosystem of philanthropy stakeholders.

In his remarks, Vice President Shettima said philanthropy, in its African expression, has never been a mere transactional act of charity but a necessity.

Represented by the Special Adviser to the President on Economic Matters, Tope Fasua, the Vice President insisted that the country must move away from the obsession with poverty alleviation towards the active pursuit of income equality and wealth creation.

“Our goal is not merely to keep the poor fed, but to create a ladder that allows every Nigerian to climb into a life of dignity and productivity. Nigeria is a nation of immense potential, and our philanthropy must reflect that. We must move from pittance-giving to platform building.

“All the same, we profoundly thank the millions of Nigerians who give daily to the poorest, who feed the hungry through their personal and collective platforms, who care for the needy, the sick, and the infirm, and who reach out to the furthest corners of our society, even where governance may be inadequate. These Nigerians have made life worth living for millions of others, and their rewards will be on earth and in the hereafter,” he said.

Shettima noted that at all levels, government remains the primary guarantor of the people’s well-being and that President Bola Tinubu is acutely aware of this responsibility.

He said this is why the administration initiated pro-poor tax reforms aimed at shielding the most vulnerable from the effects of inflation, while ensuring that those with broader shoulders bear a fairer share of the national burden.

Shettima added that these reforms are not just fiscal tools but instruments of social justice, noting that government cannot do it alone, as the social contract requires a third party—the elites.

“Beyond the corridors of power, the successful, the educated, and the endowed must come together. The elites of Nigeria must recognise that their security is inextricably linked to the prosperity of their neighbours.

“True philanthropy is not what you do after you have made your billions; it is how you integrate the welfare of your community into the very process of wealth creation.

“I must pause to acknowledge the impressive coalition that has made this conference possible. The collaboration between the University of Jos, Sule Lamido University, and Nasarawa State University signals a bridge between research and reality.

“The presence of the T.Y. Danjuma Foundation, the Zakat Foundation Institute USA, the African Philosophy Forum, the Philanthropy Forum, and the African Philanthropy Circuit speaks to a global and philosophical synergy.

“You are building an ecosystem where tradition meets modernity and where African philosophy meets global best practices. Let us remember that our call to philanthropy is anchored in the deepest recesses of our faiths… the message is singular: we are our brother’s keepers. This sense of brotherliness and compassion must become the new Nigerian currency,” he added.

Also speaking, the Chairman of the Conference, Sheikh Nurudeen Lemu, said that globally, about $800 billion is raised in different forms of charity, but there is a deficit of trillions of dollars when it comes to development.

He said the consequence is that funding for philanthropy is limited and scarce, hence the need for wiser spending.

“We need to be more responsible; we need to have a sense of priority. While brains are required to make money, perhaps more are required in spending it, because there are many forms of charity that are toxic—where you create more problems and dependency.

“So instead of using money to solve a problem, you end up adding to the problems that the next generation will face. A number of papers to be presented today and tomorrow will examine some of these issues.

“Our hope is that this conference will allow us to share ideas—not just for NGOs and activists to improve fundraising—but more importantly, to improve the quality of spending. We do not only want more giving; we want better use of what is given,” Lemu said.

In a presentation, the Regional Director for Africa at the Ford Foundation, Dr Catherine Aniagolu-Okoye, argued that local donors can move beyond temporary relief to create sustainable, self-reliant systems for Nigerians.

She said the potential of philanthropy in Nigerian nation-building remains one of the country’s greatest untapped resources, adding that the challenge is not a lack of capital but the failure to channel existing financial flows into structural development.

Aniagolu-Okoye stated: “For instance, Africa’s high-net-worth individuals and emerging middle class are expanding. Africa has approximately 135,300 high-net-worth individuals with over $1 million in liquid investable wealth.

“Nigeria has about 7,200 to 9,900 high-net-worth individuals, with a total estimated individual wealth of roughly $207 billion. The continent’s total billionaire wealth is about $105 billion, with Nigeria contributing four billionaires.

“…Yet, despite this, Africa continues to rely heavily on external resources. This raises a critical question: why does a continent so rich struggle to build formal institutions and coherent economic systems?”

On his part, the Director of the Dawood Research Institute, Jos, Dr Dauda Abubakar, noted that Africans have always been philanthropic in both individual and communal life.

He said long before modern development frameworks emerged, African societies were built on strong traditions of giving, solidarity, and community responsibility.

Abubakar observed: “Yet, despite this deep heritage, philanthropy in Africa has not received the scholarly attention, institutional support, and policy recognition it deserves.

“Today, Africa faces complex challenges—poverty, youth unemployment, humanitarian crises, climate pressures, and governance gaps. Governments alone cannot address these challenges. Markets alone cannot address them. The missing bridge is philanthropy. And within Africa, one of the most powerful drivers of philanthropy is faith-based giving.

“Faith-based philanthropy remains one of the largest and most consistent forms of social support across the continent. Every day, mosques, churches, and faith communities feed the hungry, support orphans and widows, sponsor education, provide healthcare, and respond to emergencies—often quietly and without recognition.

“But we must move from silent impact to strategic impact; from uncoordinated generosity to institutionalised philanthropy; from local charity to continental transformation. This is the vision that gave birth to the Dawood Research Institute.”

An Islamic scholar and finance expert, Prof. Bashir Umar, said the Islamic Endowment Trust, which ensures sustainability in philanthropy, must have qualified and trusted trustees.

“Normally, beyond finance, it is built on trust, which is essentially a human element. You trust someone and rely on their integrity.

“But modern finance does not rely solely on moral values; it relies on regulation. Regulation ensures that where trust is lacking, compliance is enforced.

“This is the essence of registering trustee firms. We now have firms dedicated to offering trustee services to Waqf and estate planners, particularly for high-net-worth individuals seeking Sharia-compliant estate planning,” he added.