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200 Nigerian Youths Harvest N100M in FG’s Entrepreneurial Downpour

In a significant move to boost youth empowerment and economic development, the Federal Government on Saturday disbursed N100 million in grants to 200 Nigerian youths selected from across the country. The grants were distributed during an ‘Unlock Training’ programme held in Abuja, overseen by Abiola Arogundade, the Senior Special Assistant to the President on Technical, Vocational and Entrepreneurship Education.

Arogundade explained that among the recipients, 120 were fresh entrepreneurs who presented the best business plans, while the remaining 80 were existing business owners who needed financial support to expand their operations. Each of the 120 new entrepreneurs received a grant of N500,000, totaling N60 million, while the 80 existing business owners received honorarium awards to upscale their ventures.

The grants were the result of a six-week campaign initiated by the presidency. During this campaign, youths were invited to record and submit one-minute videos detailing their current skills, future aspirations, and how government assistance could help them achieve their goals.

In addition to the grants, participants were also provided with solar kiosks and Certificates of Completion, adding value to the support they received.

Speaking to journalists after the presentation, Arogundade revealed that the entrepreneurs underwent training on essential aspects such as developing effective business plans and managing finances. She emphasized President Asiwaju Bola Ahmed Tinubu’s commitment to youth development, stating, “I am here to assure you that the President 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.”

In a related development, in May 2024, Jamila Bio-Ibrahim, the Minister of Youth Development, announced plans to reform and restructure the National Youth Service Corps (NYSC) Scheme. The Minister also disclosed that over 5,000 corps members would have their entrepreneurial ventures funded with about N10 million. She added that a team would soon be inaugurated to lead this review, restructuring, and reformation process.

These initiatives underscore the government’s dedication to harnessing the potential of Nigerian youths for national development.