– As Knights of St. Mulumba launch N2bn endowment fund for charity
The Federal Government and the House of Representatives have admitted that Nigeria’s worsening economic hardship, poverty, and humanitarian challenges are too big for government to handle alone.
They are now calling for stronger collaboration with faith-based organisations, the private sector, and civil society to address the country’s mounting social problems.
The appeal was made during the unveiling of a N2 billion Endowment Fund and Integrated Charity Programme by the Knights of St. Mulumba (KSM) Nigeria.
The fund is designed to provide long-term financing for healthcare, education, legal aid, support for widows and orphans, correctional services, and emergency relief nationwide.
Represented by Hon. Festus Adefiranye, Chairman of the House Committee on Christian Pilgrimage Affairs, the Speaker of the House, Rt. Hon. Tajudeen Abbas, said religious organisations play a critical role in nation-building.
He noted that faith groups “command public trust, shape moral values, promote social cohesion and reach communities where formal institutions often struggle to serve.”
“Government alone cannot solve every social challenge confronting our nation. Sustainable national development requires a genuine partnership among public institutions, faith-based organisations, the private sector and civil society,” Abbas said.
He described KSM’s endowment model as “prudent stewardship” because it preserves the capital and only spends investment returns. “This is a model that deserves emulation by many charitable organisations,” he added.
Also speaking, the Secretary to the Government of the Federation, Senator George Akume, said Nigeria needs innovative solutions from all sectors.
Represented by his Special Assistant, Simon Tyungu, Akume stated: “Government alone cannot address every developmental challenge. Lasting progress can only be achieved through strong partnerships involving faith-based organisations, the private sector, civil society and patriotic citizens.”
He described the KSM fund as “the institutionalisation of compassion” and urged Nigerians, philanthropists, and corporate bodies to support it.
“Every contribution made to this fund is an investment in hope, dignity and a more compassionate society,” he said.
The leader of the Supreme Knight of KSM Nigeria, Sir Steve Adehi (SAN), explained that the 73-year-old Catholic organisation can no longer rely on members’ dues due to economic decline and a dwindling membership base.
“Our membership strength is dwindling owing to death, age and economic decline. In order to respond to these increasing demands, we have to look for alternative ways of funding our charitable works,” Adehi said.
He disclosed that the N2 billion target fund will be professionally managed, with the principal never touched. Only returns on investment will be used to fund projects.
“This will give us a dependable, predictable revenue stream. It will ease the financial burden of constant levies on our members and allow us to plan multi-year intervention cycles,” he said.
To ensure transparency, Adehi added that the Order’s Constitution will be amended to prevent any leadership, present or future, from accessing the principal sum.
“What we build today will serve the Church, strengthen communities and speak for us long after our time on earth has passed,” Adehi concluded.
