In a significant move following the 4th Leadership and Business Bootcamp, Hon. Bamidele Salam, House of Representatives member for Ede South, Ede North, Egbdeore, and Ejigbo Federal Constituency, awarded N30 million in grants to 105 youths within his constituency.
The presentation took place on Sunday in Awo, Egbdeore LGA, where the beneficiaries received cash grants and essential tools for launching new ventures or supporting existing businesses.
This initiative builds on the March bootcamp held in Osogbo, where 400 participants were encouraged to submit business proposals for potential grants.
Out of 205 submissions, 105 were approved after a thorough review process. Salam emphasized that the support aims to address challenges like high-interest rates and collateral demands that often deter young entrepreneurs.
He also announced a monitoring and mentoring program to ensure the effective use of the grants. Hon. Maruf Ayode, Commissioner for Science and Innovation, praised Salam’s efforts and encouraged others to follow suit.
Read also:
- How vision boards can transform your business goals
- Lagos rail expansion set to boost small businesses, entrepreneurs
- Ekiti agro-business farmers gain boost with L-PRES cluster initiative
- Niger State agriculture generates over N600b in 2024
- SMEDAN unveils #StartWithSMEDAN to boost small businesses
- NITDA partners NDPHC to revolutionize Nigeria’s power sector with digital innovation
Dr. Adebayo Taiwo Omoleye, Director of the Centre for Entrepreneurship and Vocational Skills Development, urged beneficiaries to maximize the resources provided.
The grants, ranging from N200,000 to N500,000, included items like sewing machines, laptops, and freezers.
Beneficiaries expressed gratitude and commitment to leveraging the support to grow their businesses and create job opportunities.
Discover more from SMALL BUSINESS INSIGHTS
Subscribe to get the latest posts to your email.
