Monday, July 15, 2024

Fostering Youth Entrepreneurship: 2,659 NYSC Members Compete in NNPC Foundation’s Business Pitch


2,659 Youth Corps Members Compete For NNPC Foundation Business Pitch

In an ambitious stride towards fostering youth entrepreneurship in Nigeria, a substantial cohort of 2,659 National Youth Service Corps (NYSC) members have advanced to the final round of the NNPC Foundation’s prestigious Business Pitching Exercise. This finale, slated for July 2nd to 10th, 2024, marks a critical phase in the Foundation’s Financial Literacy Program, which has dynamically engaged a vast assembly of over 284,000 corps members through extensive training and assessments designed to hone their entrepreneurial acumen.

The NNPC Foundation’s Financial Literacy Program, a brainchild of the NNPC Foundation’s endeavours in empowering Nigerian youths, aimed at imparting critical skills in financial management and entrepreneurship. Emmanuella Arukwe, the managing director of the NNPC Foundation, shared insights into the program’s objectives and the rigorous selection process for the pitch exercise. “The exercise is tailored to pinpoint entrepreneurs among the corps whose business ideas demonstrate remarkable feasibility, sustainability, innovative edge, and potential for positive societal impact,” Arukwe articulated.

She emphasized the anticipated outcomes of the initiative, highlighting that “the selected 2,659 participants stand poised to showcase their innovative business proposals before a panel of esteemed assessors.” The vision behind this exercise aligns with the Foundation’s goal of nurturing young graduates into economically self-reliant individuals, equipped with the competencies to make meaningful contributions to society.

The pitch event is not just a competition but a launchpad for promising entrepreneurs. Outstanding projects will be rewarded with startup packs, inclusive of business advisory services and opportunities for venture scaling. This initiative is a testament to the NNPC Foundation’s commitment to promoting entrepreneurial spirit among Nigerian youth, ensuring they are well-positioned to face the economic challenges of the contemporary world.

In another stride towards easing the journey of young entrepreneurs, the NNPC Foundation has successfully negotiated a 50% reduction in the business registration fee with the Corporate Affairs Commission (CAC) for corps members’ business initiatives. This move is poised to alleviate the financial burden on emerging entrepreneurs, making it more feasible for them to formalize and scale their businesses.

The NNPC Foundation, the social responsibility wing of NNPC Limited, continues to play a pivotal role in Nigeria’s socio-economic landscape. Through initiatives such as the Financial Literacy Program and other targeted interventions in education, health, environmental sustainability, access to energy, and youth empowerment, the Foundation is forging a path towards sustainable development and economic empowerment across the nation.

As the countdown to the grand pitching exercise begins, the enthusiasm and innovative spirit among the finalists promise to make the event a landmark occasion in Nigeria’s entrepreneurial ecosystem. It stands as a beacon of hope, highlighting the potential of Nigerian youth to drive societal progression through enterprise and innovation.

Alex Sterling
Alex Sterling
Alex Sterling is a seasoned journalist with over a decade of experience covering the dynamic world of business and finance. With a keen eye for detail and a passion for uncovering the stories behind the headlines, Alex has become a respected voice in the industry. Before joining our business blog, Alex reported for major financial news outlets, where they developed a reputation for insightful analysis and compelling storytelling. Alex's work is driven by a commitment to provide readers with the information they need to make informed decisions. Whether it's breaking down complex economic trends or highlighting emerging business opportunities, Alex's writing is accessible, informative, and always engaging.

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