Deputy speaker doubles youth empowerment grants to beneficiaries
Deputy speaker doubles youth empowerment grants to beneficiaries
Chief Benjamin Kalu, Deputy Speaker of the House of Representative, doubles his youth economic intervention grants to 74 beneficiaries for the 2026 Youth Entrepreneurship and Empowerment Program (YEEP).
Kalu announced the increase during the YEEP summit on Thursday in Abuja, stating that funding would scale up from the 37 entrepreneurs supported last year.
The Deputy Speaker directed a strict 50-50 equity split, allocating exactly 37 grants to women and 37 to young men to balance previous uneven distribution.
Kalu tied future funding directly to accountability, promising to increase the number of slots next year if the current beneficiaries deliver verified performance reports.
Also, Imaan Suleiman-Ibrahim, Minister of Women Affairs and Social Development, stated that young Nigerians do not need rescue, but adequate resourcing to drive national productivity.
Suleiman-Ibrahim revealed that 82 per cent of Nigerian women already consider themselves entrepreneurs, marking the highest female entrepreneurship rate recorded anywhere in the world.
The Minister noted that women-led enterprises out-earn male counterparts on average, yet only 23 per cent of women-owned businesses currently have access to formal credit.
She said announced a deliberate partnership to expand capital, digital tools, and savings collectives across all 774 local government areas under the Renewed Hope agenda.
The European Union Ambassador to Nigeria and ECOWAS, Amb. Gautier Mignot, announced a new 200-million-euro concessional loan signed with the Development Bank of Nigeria.
Mignot stated that the funding, backed by the European Investment Bank, targets digital and green economy small-and-medium enterprises led specifically by youths and women.
The Ambassador affirmed the EUβs continuous support for human capital development through the Nigeria Jubilee Fellowship Programme and the 3MTT technical talent initiative.
Brig.-Gen. Olakunle Nafiu, Director General of the National Youth Service Corps (NYSC) lauded the nine-year strategic partnership with the YEEP foundation across various orientation camps nationwide.
The DG said the collaboration has facilitated practical skills training for over one million corps members and provided critical start-up grants to hundreds.
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The NYSC boss reaffirmed the commitment of the schemeβs Skill Acquisition and Entrepreneurship Development programme to continuously transition young Nigerian graduates from job seekers to job creators.
Love Idoko-Uloko, Convener of YEEP and Founder of Activate Success International Foundation, stated that entrepreneurship is the disciplined creation of value where none previously existed.
Idoko-Uloko said that over 90 per cent of businesses supported by the foundation remain fully operational, with 85 per cent formally registered with regulatory authorities.
She noted that money flows naturally toward solutions, urging youths to prioritise robust ideas and execution strategies over looking for capital.
Olufunmilayo Olaniyi, Senior Vice President of Business Development at Flutterwave, stated that economic empowerment is about providing access to the right financial tools.
Olaniyi disclosed that Flutterwave was deploying its full engine, including the Send App and payment applications, to ensure local infrastructure does not limit business ambition.
The fintech executive affirmed that corporate support is an active investment in building the present rather than waiting for an abstract economic future.
The Head of Corporate Communication at Nestle, Victoria Uwadoka, emphasised that true entrepreneurship relies on identifying raw opportunities and creating sustainable local value.
Uwadoka noted that Nestle has maintained its nine-year partnership because the foundation consistently provides transparent feedback and verifiable proof of concept for funded businesses.
The Chief Executive Officer of Mines and Lines, Apeh Itam, challenged the misconception that meaningful legacies are only built by individuals who are deceased.
Itam cautioned young entrepreneurs that the pursuit of financial means must never be achieved at the absolute expense of personal meaning and societal value.
The Chief Executive Officer of Crown Luxury Properties, Amos Gbadewole, urged corps members to maximise their grants through absolute focus and disciplined application.
Gbadewole shared his professional journey, noting he served in Abuja 18 years ago and built his real estate empire from the N156,000 saved during his service.
