35 business owners receive financial grants

The Nigerian Young Professionals Forum (NYPF) has empowered 35 business owners through the Young Entrepreneurs and Students Grant Scheme (YESGrant).

Launched in March 2016, YESGrant focused on the agricultural sector, creative industry and the information and communication technology (ICT) sector.

According to NYPF, thousands of people applied for the grant sponsored by Heritage Bank.

Lucky beneficiaries were rewarded at a ceremony, which held at Four Points Hotel by Sheraton in Victoria Island, Lagos.

Moses Siasia, chairman of the forum, said the idea of the grant was born out of the need to assist young Nigerians build businesses in an “economy fraught with endless onslaught of challenges”.

Maintaining that the society does not encourage young talents, Siasia urged stakeholders to consider empowerment of youth a priority.

He also appealed to the beneficiaries to see the opportunity as a stepping stone.

He thanked Heritage Bank for its “continuous encouragement to SME Growth in Nigeria”.

Ori Ogba, the bank’s head of SME, said Heritage will provide the 35 successful entrepreneurs with guidance on fund management.

Ogba said the bank supported the initiative because of its belief in the youth of Nigeria.

Stephanie Okereke-Linus, YESGrant brand ambassador, congratulated the winners and advised them to put the money received to good use.

She also commended Heritage Bank, and advised financial institutions which “shy away from helping startups” to emulate Heritage.

Paul Okoroafor, owner of Santa Paulo Delakusa, who received the sum of N2 million, said the fund will be used for full oil palm production.

Expressing gratitude to NYPF, Okoroafor said: “With this gesture, we now know that something good is coming out of Nigeria”.

The second phase of the scheme will open in March 2017.