The Foundation for Partnership Initiatives in the Niger Delta (PIND) has disclosed that an ongoing effort to facilitate peace and economic empowerment of the Niger Delta is yielding positive results.
“Together with our partners, we continued to find creative, people-centered ways to carry out our mission to facilitate peace and equitable economic growth in the Niger Delta.” Tunji Idowu, executive director, PIND, said in a statement unveiling the 2023 annual report.
According to him, the report showcased the catalytic impact of strategic investments in peace building and economic empowerment to create a brighter future for thousands of lives and communities across the Niger Delta.
“A major initiative in this direction is the PIND Impact Investing SPV, which focuses on providing concessional local currency debt to beneficiary companies in the clean energy, agriculture, and youth empowerment sectors. PIND is raising a $75 million blended finance facility and a $5 million technical assistance (TA) sidecar facility to support these efforts.
He disclosed further that PIND’s initiatives led to the creation of over 14,600 new jobs and significantly boosted agricultural productivity, directly benefiting over 65,000 farmers and small businesses in 2023.
Idowu stated that the organisation’s peace building investment had over 1,200 peace actors trained and 108 conflicts mitigated, to ensure a more stable and secure Niger Delta region. “2023 saw us exceeding expectations and achieving several milestones as we consolidated our previous work and successes while exploring new opportunities,” Idowu stated.
He also disclosed that the communities served by PIND’s programs are among the most vulnerable in Nigeria, and are often overlooked by larger development efforts. “By investing in these communities, PIND is addressing the root causes of poverty and conflict, fostering environments where peace and prosperity can take root,” Idowu stated.
He however disclosed that the organisation is poised for a new era of greater impact, as it approaches the end of its third strategic phase. According to him, PIND will continue to explore new avenues for impact, including the adoption of impact investment.
“The financial sustainability of a grant-funded program depends on creating and maintaining diversified revenue sources. It is essential to understand that grants are not to be the sole source of funding for nonprofits, as grants are a catalyst for development, not to sustain it,” Aline Varre, director, strategy and business development at PIND, stated.
According to Varre, the 2023 annual report showcases how PIND’s initiatives are laying the groundwork for sustainable growth and lasting peace in the Niger Delta region. “Philanthropic organisations must engage in ongoing business development efforts to sustain their programmes and operations.”
