In a major move to boost youth entrepreneurship in Nigeria, the Nigerian National Petroleum Company Limited (NNPC Ltd.) has disbursed ₦531,000 each to 531 members of the National Youth Service Corps (NYSC), along with essential starter kits to help them launch their own businesses.
The empowerment initiative was unveiled in Abuja on Thursday, where the items and funds were formally presented to the beneficiaries. The Group Chief Executive Officer of NNPC Ltd., Mr. Bayo Ojulari, was represented at the event by the Group Chief Operating Officer, Mr. Roland Ewubare.
According to Ojulari, this effort reflects NNPC Ltd.’s deep-rooted commitment to nurturing the potential of Nigerian youths and advancing national development. He emphasized that the initiative is both a strategic investment in the country’s future and a reflection of NNPC Ltd.’s core principles of “integrity and excellence.”
Speaking to the gathered corps members, Ojulari lauded their selection, noting the highly competitive nature of the program. “You are exceptional candidates. We are proud to support your journey,” he stated.
He further advised the beneficiaries to channel the support into meaningful ventures and to remain committed to excellence. “Use these resources wisely. They are seeds for your growth and transformation,” he encouraged.
The News Agency of Nigeria reported that this project is a collaborative effort involving the NNPC Ltd. Foundation, NYSC, the Corporate Affairs Commission (CAC), and Kudimata Nigeria Ltd., with the shared goal of enhancing livelihoods through financial empowerment.
Mrs. Emmanuella Arukwe, Managing Director of the NNPC Ltd. Foundation, disclosed that the programme originally began with an emphasis on equipping corps members with financial literacy skills. “More than 800,000 corps members have participated since August 2023,” she noted.
She added that the training modules included topics on branding, sourcing for funding, assessing project viability, and more. According to Arukwe, the 531 selected corps members were finalists who scored at least 70 percent after undergoing a rigorous screening process.
“Even those not selected today have gained skills to access loans and grants. This is a long-term investment in economic resilience,” she explained, stressing that the value of the program extends beyond the immediate recipients.
Founder of Kudimata, Ms. Kathleen Erhimu, described the initiative as a significant milestone in youth empowerment. “We are celebrating purpose and transformation. Our goal is to empower the youth for financial independence,” she declared.
Brigadier General Olakunle Nafiu, Director-General of NYSC, also praised the NNPC Ltd. for going beyond just providing training by offering practical tools and financial resources. “Few partners offer such a complete package,” he said.
He commended the foundation for its ongoing support of youth entrepreneurship. “This will go a long way in helping the beneficiaries realise their business dreams,” Nafiu added.
On behalf of the Corporate Affairs Commission, Registrar-General Hussaini Magaji, represented by Hajiya Amina Fika, extended congratulations to the recipients. “Your success is a testament to your resilience and creativity,” he remarked.
Magaji encouraged the new business owners to take formal steps to register their enterprises. “Take advantage of our online platforms to access funding and grow sustainable enterprises,” he urged.
One of the empowered corps members, Ozigi Faith, expressed deep appreciation for the program, calling it a turning point. “It is our first step to financial freedom. Let us stay focused and make the most of it,” he said.
The initiative marks a significant intervention by the NNPC Ltd. Foundation and its partners in reducing youth unemployment and fostering a culture of entrepreneurship among Nigerian graduates.
What you should know
This initiative by NNPC Ltd. represents a concrete step toward reducing youth unemployment by combining financial support with business training.
Beneficiaries were selected through a merit-based process and are expected to use the funds and tools to launch viable enterprises, contributing to Nigeria’s economic resilience.
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