Shettima, Experts Push Strategic Philanthropy for Sustainable Growth in Africa

Vice President Kashim Shettima and leading development experts have called for a shift from traditional charity to strategic philanthropy capable of delivering lasting socio-economic impact across Nigeria and the African continent.

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

The conference, themed “Contemporary Practices of Philanthropy in Africa: Prospects and Challenges,” aims to build a continental ecosystem of philanthropy stakeholders.

Represented by his Special Adviser on Economic Matters, Tope Fasua, Shettima said philanthropy in Africa must evolve beyond charity into a tool for wealth creation and income equality.

“Our goal is not just to keep people fed but to build pathways for dignity and productivity,” he said, urging a transition “from pittance giving to platform building.”

He noted that while government remains the primary guarantor of citizens’ welfare under President Bola Ahmed Tinubu, broader societal participation is essential.

“The elites must recognise that their security is tied to the prosperity of others. True philanthropy is embedded in how wealth is created, not just distributed,” he added.

Shettima also highlighted ongoing pro-poor tax reforms aimed at cushioning vulnerable Nigerians while ensuring equitable contribution from wealthier citizens, describing them as instruments of social justice.

Chairman of the conference, Nurudeen Lemu, stressed the need for smarter spending of philanthropic funds, noting that while about $800 billion is raised globally for charity, it remains insufficient for development needs.

“Not all charity is helpful. Some create dependency and worsen long-term problems. We need better thinking in how funds are spent,” he said.

Also speaking, Regional Director for Africa at the Ford Foundation, Catherine Aniagolu-Okoye, said Nigeria and Africa must harness internal wealth for sustainable development.

She noted that Africa has over 135,000 high-net-worth individuals, with Nigeria alone accounting for between 7,200 and 9,900 individuals controlling about $207 billion in wealth.

“Philanthropy remains one of Nigeria’s most underutilised assets. The issue is not lack of capital but how it is channelled,” she said.

Director of the Dawood Research Institute, Dauda Abubakar, emphasised that philanthropy has long been embedded in African culture but lacks institutional backing.

“We must move from uncoordinated generosity to structured, institutional philanthropy capable of driving continental transformation,” he said, highlighting the role of faith-based giving as a major support system across Africa.

On his part, Islamic finance expert Bashir Umar underscored the importance of trust and regulation in sustaining philanthropic endowments.

He noted that properly structured trustee systems are essential to managing Islamic endowments (Waqf) and ensuring accountability in philanthropic investments.

The conference continues with presentations focused on improving funding strategies, enhancing accountability, and aligning philanthropy with Africa’s long-term development goals.