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NSE Chief: “U.S.$10 Billion Yearly Donation Can Address Nigeria’s Woes”

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According to experts, there would be a drastic reduction in the increasing rate of poverty and other social challenges, if Nigerians were committed to raising fund to support activities of non-for-profit social enterprises.

Experts including the President of the Nigerian Stock Exchange (NSE) Aigboje Aig-Imoukhuede,said that Nigeria and other African countries could become better by stimulating the ability to impact more on people’s lives by giving.

Using the US, where yearly donation to charity organisations represents 2.1 per cent of Gross Domestic Product (GDP), amounting to about $300 billion as an example, Aig-Imoukhuede, said Nigerians could give as much as $10 billion yearly to address societal challenges.

“In 2015, America donated 2.1 per cent of its Gross Domestic Product (GDP) which is over $300 billion to charitable organisations because of the structure and leadership in the system. This is not because Americans are more charitable but because of the structure they have.”

“Leadership is required for an organization or society to develop and the social sector is not an exception. They must have a structure as well as strong governance for the sector to grow and attract funds.” said Aig-Imoukhuede.

Speaking at the maiden edition of ACT Foundation breakfast dialogue, held in Lagos, the experts noted that lack of unity and integration were bane to the social sector.

Stakeholders, including Chief Executive Officer, ACT Foundation, Osayi Alile, Country Director, International Finance Corporation (IFC), Eme Essien; Regional Director, West Africa, Ford Foundation, Innocent Chukwuma; Country Director, ONE Campaign, Serah Makka-Ugbabe; Executive Director, The Initiative for Equal Rights, Olumide Makanjuola; as well as Senior Special Assistant to the President on Industry, Trade and Investment, Jumoke Oduwole, met to address “Connecting the Dots: Partnerships that work,” calling for support that would enable the sector improve humanity.

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