Adeosun-Backed DashMe Stores Raise N500m For Vulnerable People, Orphanages

…Backs Tax Reforms, Subsidy Removal

A former Minister of Finance, Mrs Kemi Adeosun, has revealed that DashMe Stores, a social enterprise she founded, has raised over N500m to support vulnerable people and orphanages across Nigeria, while outlining plans to expand the initiative to Ibadan, Port Harcourt, Kano and the Federal Capital Territory (FCT).

Adeosun disclosed this during an interview on Channels Television’s Inside Sources with Laolu Akande, where she also spoke extensively on poverty, citizen-led development, tax reforms, fuel subsidy removal, insecurity and the ongoing efforts of the Bola Tinubu administration to reform governance and public finance.

Founded in 2021 with just one outlet, DashMe has grown into a network of charity retail stores that convert donated items into funding for social projects.

The organisation currently operates one store in Abuja and three in Lagos, with a fifth outlet scheduled to open in Abeokuta next month.

“We started in 2021 with one store. We’re now on our fifth store and expanding,” Adeosun said. “We have one in Abuja, three in Lagos, and one opening in Abeokuta. We’re talking about Ibadan this year and Port Harcourt, and we’re already discussing Kano.”

She explained that DashMe relies on partnerships in locations where her team cannot be physically present. “In each of those places, we rely on partners to work with us, and we’re seeing no shortage of people willing to get involved. They like what we’re doing. They like helping,” she said.

According to Adeosun, DashMe operates a strict not-for-profit model, with all proceeds reinvested into social causes. “Cumulatively, we’ve raised over ₦500m from our stores and partnerships, and that is exactly how much has gone out,” she said. “I don’t get paid. The only people who are paid are the shop staff. Everything else goes back into helping people.”

She noted that DashMe has built about four orphanages from scratch, refurbished several others and taken over long-abandoned projects. One such project, started 42 years ago by a private individual, had remained unfinished, leaving children in rented accommodation for decades.

“Children’s lives are unstable enough without landlords issuing quit notices,” she said. “They deserve to be in their own homes.”

Adeosun also recounted a setback where one orphanage under construction was vandalised shortly before Christmas, with electrical fittings stolen. “It was painful, especially because it was pointless,” she said. “But we’ll soldier on and complete the project.”

As DashMe prepares to expand into new cities, Adeosun said the organisation will remain focused on scale, accountability and compassion.

“My vision was to build an African charity that works to international standards,” she said. “One that challenges the narrative that Africans are waiting to be rescued. That narrative is not true.”

In discussing poverty with the host of the programme, Adeosun argued that the issue is global and not unique to Nigeria.

“Every country has a metric for classifying poverty,” she said. “Interestingly, the country with the highest number of people in poverty is China. We talk about the boom of China, but we forget there is an underbelly of extreme poverty in rural areas.”

She noted that Nigeria’s large population means poverty figures will always appear high in absolute terms. “Because of our numbers, there will always be a core of poverty that remains,” she said.

However, Adeosun stressed that the critical issue is social mobility. “What matters is whether people are able to move from poverty into the middle or lower-middle class,” she said. “The worst kind of poverty is generational poverty, where generation after generation remains poor with no social mobility.”

According to her, education and enterprise remain the fastest routes out of poverty. “Are we seeing young people from villages who have hope of a middle-class life through education or enterprise? If we are, then there is reason to be optimistic,” she said, adding that one person exiting poverty often supports several others through remittances and family support.

Adeosun also emphasised the role of individuals and the private sector in building social institutions, arguing that governments often formalise initiatives that citizens start.

“Government never starts anything. People start, and government takes it over,” she said, citing the origins of council housing and major hospitals in the United Kingdom.

She recalled an instance where DashMe sought permission to refurbish a state-run orphanage, only for the government to promise to handle it.

“It’s the people that lead government,” she said. “One of our challenges in Nigeria is that we expect government to lead the people. It should be the other way around.”

Reflecting on her time as Minister of Finance, Adeosun reiterated her support for the removal of fuel subsidy, describing it as inevitable. “There was no minister who did not know that subsidy was killing us,” she said.

She explained that Nigeria’s subsidised fuel prices, combined with porous land borders, encouraged massive smuggling.

“We had consumption figures of about 65 million litres per day with only about 10 million cars. It was not possible,” she said.

According to Adeosun, subsidy removal frees up funds for development. “Money spent on subsidy is money you can’t spend on roads, education or health,” she said.

However, she warned that governments must address the negative spillovers of such policies. “You need structural solutions, not just palliatives, to help people absorb policy changes,” she added.

Adeosun also backed ongoing tax reforms, noting that tax compliance had historically been weak, particularly among wealthy individuals and large corporations.

She referenced initiatives such as the Voluntary Assets and Income Declaration Scheme (VAIDS), which targeted tax evasion.

“When you’re Minister of Finance, the word ‘no’ becomes your watchword,” she said. “If your finance minister is loved by everybody, they’re probably not doing much of a job.”

Adeosun also praised the Tinubu administration for pushing data harmonisation across government agencies, describing it as critical to improving tax collection and governance.

“I was excited when I saw moves to harmonise data,” she said. “We’ve had TIN, NIN, BVN—too many numbers. Once you harmonise data, it becomes very difficult to hide.”

She explained that access to integrated data allows government to identify individuals and companies benefiting from public resources without paying taxes. “Once you have data, and with AI, you can see very quickly who is not playing the game fairly,” she said.

On insecurity, Adeosun said the current administration is demonstrating the political will to confront the challenge, even though it remains complex and longstanding.

She recounted a personal experience during her time in office when her home was invaded and she was robbed at knifepoint. “It was extremely scary,” she said. “I never slept in that house again.”

Despite the challenges, Adeosun expressed cautious optimism. “Insecurity didn’t start overnight, and it won’t end overnight,” she said. “But what matters is that there is now a clear will to tackle it.”

ENDS