fbpx
Charity

7 Ways NGOs Make Money in Nigeria

You might want to ask, how do NGOs Make Money in Nigeria? Well, In this post, I am going to show you the 7 ways Nongovernmental Organisations (NGOs) make their money to ensure sustainability. Although NGOs are known as nonprofit organizations or not-for-profit organizations, they are always in need of money to execute their projects. Funding has always been the major problem of nongovernmental organizations in Nigeria.

Therefore, in this post, I will show you how NGOs make money in Nigeria.  NGOs are found by passionate individuals to tackle one problem or the other in society.

Most people or groups who found.NGOs do so for pure service delivery purposes to society, but they need money to successfully achieve that goal. Thus, we will look at the ways existing NGOs in Nigeria raise funds to execute their projects and their rewards for doing so, even though they are nonprofit organizations.

See Also: List of 50 NGOs In Nigeria and their Functions, Activities, Contacts

What is NGO

7 Ways NGOs Make Money in Nigeria

As wepedia would say, NGO is an acronym for organizations found by private citizens or groups to operate independence of government. Despite the above fact, most NGOs in Nigeria depend on government for funding, a practice that has raised much controversy over the integrity of NGOs.

However,  a majority of NGOs in the are active advocacy groups whose operations might step on the toes of government, thus making them reject government funding and sponsorship.

They are involved in advocacy for social justice and economic development matters which endear them mostly to the impoverished citizens. Another major focus of NGOs is humanitarian concern.

Category of NGOs: 

NGOs are either categorized by their orientation or agenda which involve the activities and services they render. They include participation and empowerment NGOs, Operational NGOs, Campaigning NGOs, Advocacy NGOs or groups etc.

See Also: List of Foreign NGOs in Nigeria; Their Services and Contact Details

Types of NGOs

The types of NGOs include Community – based NGOs, City-wide NGOs, State NGOs, National NGOs,  Multinational and international NGOs. They all operate within the above confines their names are tagged.

 

Requirements to Set up an NGO In Nigeria

There are so many requirements an individual or a group need to meet before being qualified to start an NGO in Nigeria. The laws governing NGOs establishment in country is something similar to the requirements for the registration of companies. Therefore, to successfully set up your NGO in Nigeria, you have to follow the following steps:

  1. Write a Comprehensive Plan for your NGO: incorporate the core values, mission and vision statements of the NGO in your plan
  2. Register Your NGO with The Corporate Affairs Commission: before your Nongovernmental Organisation can be up and running in Nigeria, you have to get it registered with the corporate affairs Commission by seeking the consent of the Registrar General. For your NGO to be consented to by the Registrar General, you must ensure that the name of your NGO is unique i.e. not identical with the name of any other organization that already existed/existing in the country.
  3. Documentation and Submission of Incorporation Credentials: documentation must include
  • 2 copies of completed application letter duly signed by the Chairmen and Secretary of the said NGO.
  • 2 copies of drafted NGO Constitution duly signed by same officials. airtel night plan
  • Draft of the minutes of the meeting where the Constitution of the NGO was adopted
  1. Appointment of Trustees for the NGO
  2. A Bank Account with the Name of The NGO: a bank account is a necessary requirement for to set up an NGO because that is where you will receive donations and financial support from the public and organisations.
  3. Publication of notices mtn night plan
  4. Choose a Consultant or Solicitor for your NGO

See Also: Most Popular Int’l NGOs in Nigeria; Activities, Address

How NGOs Make Money in Nigeria

Here we will try and offer explanations to cover the following areas;

Funding is always the greatest concern of NGOs. Although most NGOs in Nigeria depends on government grants as a major source of funding, some of them deliberately avoid government funding, a practice considered as normal since most of their agenda, especially advocacy NGOs is against bad policies and practices by government.

They rather do not depend on voluntary contributions by their members. However, below is a breakdown of how NGOs generally make money in Nigeria:

1. Membership Dues

Since NGOs are found by concerned individuals or groups, and their members voluntarily agree to be levied with some dues which would be used in pursuing and executing the goals and projects of the NGO.

2. Fundraising Events

Most.NGOs organize special fundraising events where notable individuals in the society are invited and solicited to make donations toward the funding of NGOs. jamb result

3. Government

although some NGOs especially the advocacy groups do not accept funding from the government, a good number of them in Nigeria depend on government funding and sponsorship.

Government on the other hand has an obligation to fund any NGO that approaches it provided they meet the stipulated guidelines for founding and running such organizations. Governments are so obliged because NGOs funding is always provided for in the national annual budgets. how ngos make money in nigeria

However, questions have been raised as per the integrity of.NGOs  who accept funding from the government as their core mandate revolve around advocacy for impoverished groups against bad government policies.

4. Grants from International Bodies/Organizations:

international organizations such as the Bretton wood institutions namely: the World Bank, the International Monetary Fund (IMF),  the.World Trade Organization, the United Nations (UN),.European Union (EU),  the African Union (AU),  USAID make special provision for the funding of NGOs around the world. Therefore, most NGOs in Nigeria depend on those international organizations for their funding.

5. Charitable Institutions

some internationally renowned charitable institutions work to provide funding and support for.NGOs around the world.

6. Foundations

NGOs can make money in Nigeria by applying for funding and sponsorship from Foundations such as the Ford and foundation, Tony Elumelu Foundation, Goodluck Ebele Jonathan Foundation and many other Foundations around the world.

Conclusion

In the above article I have shown in detail how NGOs make money in Nigeria. I believe you have also learned the step-by-step requirements and all it takes to set up an NGO in Nigeria. Before an NGO begin sourcing for funds, it must have scaled through the registration process satisfactorily. Thereafter, they can look for sources to raise money to run their programmes.

.

.

👍Showcase your business here!

With over 1M unique users per month across all channels, we have a large audience for you to showcase your products and services. Simply get in touch via 👉 marketing@Infoguidenigeria.com.

 

🤑 Make Money now!

👉 Make money writing for us. Apply for Freelance writing jobs in Nigeria.

👉 Make Money as InfoGuideNigeria Advertising Agents, read more here

 

✍️ Be Our Guest Publisher!

Do you have a press release, breaking news,  or any other helpful information to share with our growing readers? If yes, send your article to 👉 infoguidepr@gmail.com.

We will be glad to publish it if the information is useful to our audience.

.

This post can be helpful to somebody else, please share it on Facebook, Whatsapp, Telegram and Twitter. There are buttons below for this (easy to use too)!


Copyright Warning!

Contents on this website may not be republished, reproduced, redistributed either in whole or in part without due permission or acknowledgment.
.
Proper acknowledgment includes, but not limited to (a) LINK BACK TO THE ARTICLE in the case of re-publication on online media, (b) Proper referencing in the case of usage in research, magazine, brochure, or academic purposes,.
.
All contents are protected by the Digital Millennium Copyright Act 1996 (DMCA).
.
We publish all contents with good intentions. If you own this content & believe your copyright was violated or infringed, please contact us at [infoguidenigeria@gmail.com] to file a complaint and we will take necessary actions immediately.

Samuel Udo

Samuel Udo is a graduate of Political Science. A Creative/Freelance Writer and Public Commentator whose articles have been published in top print media such as 'The Pioneer Newspapers'. InfoGuide Nigeria is a team of Resource Persons and Consultants led by Ifiokobong Ibanga. Page maintained by Ifiokobong Ibanga. If you need a personal assistance on this topic, kindly contact us.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also
Close
Back to top button