FG awards N100m grants to 200 young entrepreneurs

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The Federal Government on Saturday doled out N100 million grants to 200 Nigerian youths selected from across the country to boost their potential for economic development.

 

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The grants were disbursed by the Senior Special Assistant to the President on Technical, Vocational and Entrepreneurship Education, Abiola Arogundade, at an ‘Unlock Training’ programme in Abuja.

 

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Arogundade explained that 120 were freshers while the remaining 80 were those already in business who needed financial support to boost their business.

 

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The presentation was the outcome of a six-week campaign initiated by the presidency where youths were asked to record and submit a minute video on their current skills, future plans and how they hope government could assist them achieve their goals.

READ ALSO: FG Proposes New Minimum Wage

 

Aside from solar kiosks, the participants were also offered Certificate of Completion.

Addressing journalists after the presentation, Arogundade disclosed that the entrepreneurs were trained on the components of a good business plan and money management among others.

 

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.”

 

Similarly, in May 2024, the Minister of Youth Development, Jamila Bio-Ibrahim, announced plans to begin reformation and restructuring of the National Youth Service Corps Scheme.

 

The Minister also stated that over 5,000 corps members will have their entrepreneurial ventures funded with about N10 million and that a team to spearhead the review, restructuring, and reformation would be inaugurated soon.

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