FG Empowers 200 Young Entrepreneurs with N100m Grants

FG awards N100 million in grants to 200 young entrepreneurs

FG empowers 200 young entrepreneurs with n100m grants, solar kiosks & training to boost economic growth & innovation.

The Federal Government's N100m grant scheme has empowered 200 young Nigerians to unleash their economic potential, promoting entrepreneurship, innovation, and economic growth.

On Saturday, June 8, Abiola Arogundade, Senior Special Assistant to the President on Technical, Vocational, and Entrepreneurship Education, distributed N100 million in grants to 200 young Nigerian entrepreneurs at the 'Unlock Training' session in Abuja, supporting their economic aspirations and national development.

According to Arogundade, 80 of the grantees were already established business owners in need of funding to expand their operations, while the remaining 120 were novices.

This presentation came after a six-week presidential campaign in which young people were asked to make and submit a one-minute video demonstrating their present abilities, aspirations for the future, and ways in which they thought the government could assist.

Besides receiving solar kiosks, the participants were also presented with Certificates of Completion, recognizing their successful participation in the training program and acknowledging their newfound skills and knowledge in entrepreneurship and sustainable energy solutions.

During the event, Arogundade highlighted that the beneficiaries had received extensive training on critical areas like business plan development, financial literacy, and smart money management, empowering them with the knowledge and skills necessary to thrive in their businesses.

She said, “Today, we are giving out N500,000 grants each to 120 winners with the best business plans. We are also giving out honourary awards to 80 persons seen to be doing very well in their Technical, Vocational and Entrepreneurship skills but need support to upscale their businesses.

“I am here to assure you that the President, Asiwaju Bola Ahmed Tinubu GCFR, is thinking about you, not just because of this programme but because of the numerous initiatives he is creating across the country to promote technical and entrepreneurship education.”

Similar to this, in May 2024, Jamila Bio-Ibrahim, the Minister of Youth Development, announced that the National Youth Service Corps (NYSC) Scheme would be restructured and reformed.

The Minister added that a team to lead the evaluation, restructuring, and reformation would soon be established, and that over 5,000 corps members will receive support for their entrepreneurial endeavors, amounting to over N10 million.