FG selects 17 youth-led firms for N49m business grants

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The Federal Government has awarded N49m in non-dilutive funding to 17 youth-led businesses selected from more than 19,000 applicants for an enterprise development programme organised by the Federal Ministry of Youth Development.

Eight of the businesses will receive N5m each, while the remaining nine will get N1m apiece, following the conclusion of a four-week accelerator programme under the Nigerian Youth Academy, in partnership with Cascador.

The funding is intended to help the selected entrepreneurs develop their businesses without surrendering equity. All 17 participants will also receive enterprise resource planning software to support their operations.

The programme, which attracted applications from across the country after its launch in August, selected 17 founders from 13 states, representing all six geopolitical zones.

The eight businesses awarded N5m each are SewPro, founded by Andrew Ogbeh; Biuda, founded by Patrick Ifeanyi Chukwu; Sparklean Station Nigeria Limited, founded by Ameedat Eniola Olaniyan; Backel Food Services Limited, founded by Favour Ngozi Nnadi; Shellify, founded by Khuzaifa Aminu; Rèkool Access Technology, founded by Ayisat Adama Adamu; Agrosavvy Consult, founded by Godslove Emmanuel Asuquo; and Craft Planet, founded by Kabir Olaosebikan.

The other nine recipients are Eeshas Cake and Foods Limited, founded by Aisha Bello Marafa; Zannytecture Recycling Company Limited, founded by Zainab Abike Kadiri-Lawal; UpSmart Energies, founded by Moses Nweke; ParaLearn, founded by Evander Ofomah; Drych Digital Limited, founded by Victoria Okor; Agro-Chill Solutions, founded by Ibrahim Isah Liman; Sol-Uniq Green Resources, founded by Solomon Adedini; Bidvans Limited, founded by Bridget Idyu; and TrashGo, founded by Adam Umaru. Each will receive N1m.

Their businesses operate in areas including food processing, recycling, clean energy, digital education and agricultural technology, with some seeking to address post-harvest losses, malnutrition, waste management and vaccine cold-chain challenges.

The four-week accelerator covered sales, customer service, data protection, product standards, regulatory compliance, investment readiness and pitching.

Participants also received training on the use of SMECore enterprise resource planning software.

Technical sessions involved representatives of the Nigerian Export-Import Bank, Nigeria Revenue Service, Nigeria Data Protection Commission, Securities and Exchange Commission, National Information Technology Development Agency, Standards Organisation of Nigeria, National Agency for Food and Drug Administration and Control, Corporate Affairs Commission and National Agency for Science and Engineering Infrastructure.

The Minister of Youth Development, Ayodele Olawande, said the programme was designed to connect young entrepreneurs with the skills, funding and business support needed to turn their ideas into viable enterprises.

“Nigeria is blessed with talented and innovative young people. What they need are opportunities to turn their ideas into successful businesses,” he said.

He said the partnership aligned with President Bola Tinubu’s Renewed Hope Agenda, adding that the government wanted young people to move beyond seeking employment to building businesses and creating jobs.

One of the beneficiaries, Kabir Olaosebikan, founder of Craft Planet, said the funding and business support would help the company expand its sustainable plastic waste solutions.

“This programme will prove to be a defining step in our growth story, giving us the business foundations and confidence to pursue our ambitions. With the funding and ERP platform, we now have the means to put what we’ve learned into action,” he said.

Olaosebikan said the company would focus on expanding its operations and creating jobs as it grew.

The Chief Executive Officer of Cascador, Trish Thomas, described the selection of eight businesses for funding as an encouraging outcome for the programme’s pilot phase, expressing hope that the beneficiaries would grow their enterprises and create employment.

The programme was implemented by Sapphital Limited, which served as the technical partner and deployed a Startup and Grant Management System for its administration.

The ministry said the initiative formed part of the Nigerian Youth Academy’s ambition to train and empower seven million young Nigerians within two years.

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