FG Gives 120 Youths N500,000 Each to Start Businesses

Nigeria Must Make Difficult Changes - Tinubu

Through the Unlock Training Program for Unemployed Youth, the Federal Government (FG) has provided N500,000 to 120 individuals to launch their own enterprises.

President Bola Tinubu’s Senior Special Assistant, Ms. Abiola Arogundade, made the announcement on Saturday in Abuja, stating that the recipients of the grants were the ones who submitted the finest business plans.

Speaking at the Unlock Training Program’s formal closing, she oversaw the distribution of grants, solar kiosks, and completion certificates to meritorious participants.

According to Arogundade, the initiative came about as a result of a six-week campaign her office started, in which young people in Nigeria were encouraged to record and submit a one-minute video showcasing their current technical, vocational, and entrepreneurial talents.

She said that the youths were also asked to drop a video of what their plans were for the future in terms of such skills and how they wanted the government to assist them in achieving their goals. Arogundade said the purpose of the programme was to boost the potential of youth for economic development.

“At the end of that campaign, we trained about 10,000 participants in a 10-day intensive training session on how to write and execute business plans. During the programme, both online and physical participants were trained on the components of a good business plan, including an executive summary and a business overview.

“We also trained them on marketing strategies, pricing, money, and risk management, among others. After the course, participants were asked to write and submit business plans. Today, we are giving out N500,000 grants each to 120 winners with the best business plans,” she said.

She added that her office was also giving out honorary awards to 80 people who were seen to be doing well in their technical, vocational, and entrepreneurial skills but needed support to upscale their businesses.

She, therefore, expressed optimism that the grants would serve as an incentive for progress in their businesses going forward. “We will also like to say that this is one of our many programmes for supporting skills and enterprise, and we intend to continue to do so in our office.

“So, if you are not a winner today, please continue to apply to participate in our future programmes,” the presidential aide said. She expressed appreciation to all the ministers and other stakeholders who, in one way or another, encouraged technical, vocational, and entrepreneurship education across Nigeria.

Arogundade congratulated the participants for their successful completion of the programmes and the honorary winners for their dedication to the development of technical and vocational skills in the country.

“We have no doubt that you learned very valuable lessons on how to conduct businesses henceforth, and, to that extent, we celebrate you today; you are all winners,” she said. Providus Bank was also on hand to issue incorporation certificates and credit the winners with their N500,000 grants.

Four solar kiosks designed for hairdressing, catering, food vending, and general purposes were also given to some of the winners to support their business growth. The kiosks were also equipped with sockets for phone charging and spaces for POS and other businesses.

Arogundade said the kiosks were among the job creation projects designed as part of the Renewed Hope Agenda of President Tinubu’s administration.

Speaking at the event, Mr. Bayo Onanuga, Special Adviser to the President on Information and Strategy, congratulated Arogundade for the program and appealed to winners of the grants and other facilities to effectively utilise them.

He also encouraged youths to embrace skill acquisition, saying that it was the way to make ends meet. Some of the winners who spoke to NAN expressed gratitude to President Tinubu, saying the initiative was a lifesaver.

“We thank the President for this great opportunity and for giving hope to our youths; it shows that with him, there is indeed hope for youths in the country,” Ms. Oluwaseun Kekere-ekun, one of them, said.

Kekere-ekun, who was one of the resource persons, said the programme was a fantastic opportunity to ignite the entrepreneurial skills of youths in the country. She advised that in going into business, youths should start small, dream big, stay consistent, and remain focused.

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