The 2017 Awardees
Nigeria’s population is said to have reached about 167 million people in 2012 (National Bureau of Statistics). National Youth Development Policy (2001) defines youth as people aged between 18 and 35. And they constitute “all young males and females aged 18- 35 which are citizens of the Federal Republic of Nigeria” (National Youth Policy of Nigeria, 2001:4). According to the National Bureau of Statistics (2004), young people aged between 15 and 24 years account for 52.9 percent of [ads1]unemployed people while those aged between 25 and 44 years accounted for 41.1 percent. Therefore, those in age bracket of 15 and 44 years account for 94 percent of the total unemployed persons in Nigeria (Osibanjo, 2006)- (Osibanjo, O. (2006) Concept of Entrepreneurship: A paper presented at the workshop on entrepreneurship and innovation for 200 level student in the University of Ibadan, Ibadan.)
Youth unemployment continues to grow and manifest itself in alarming ways. Youth unemployment – and underemployment – is an escalating threat to economic prosperity, social cohesion and political stability. On March 18, 2016, the Federal Government of Nigeria, through the Ministry of Trade, Industry and Investment, inaugurated the Bank of Industry (BoI)’s N10billion-Youth Entrepreneurship Support (YES) scheme, aimed at developing the entrepreneurial capacity of youths and providing start up loans at concessionary interest rates to executive their business plans. The scheme will allow each of the eligible beneficiaries to access a maximum of N5 million loans for the procurement of machinery and equipment, including working capital.
The Emmanuel Ivorgba Foundation (www.teivorgbafoundation.org) has been at the forefront of making a difference in people’s lives since 2017. As a leading Social Entrepreneurship Foundation in Nigeria, we strive to make a positive life-changing impact on all of our recipients by providing them with all the tools, resources, and monetary support they need in order to succeed.
In March 2017 The Emmanuel Ivorgba Foundation launched its Young Business Leaders Award to support young Nigerian entrepreneurs with an integrated package of support to help them start and grow sustainable businesses. Helping young people to start their own business can make a direct impact on unemployment – because not only does the young person get a job, but they are able to create jobs for others. The Award provides access to finance, which is usually the most obvious challenge, as well training and mentoring support. Young Entrepreneurs will receive mini capital to grow their businesses as well as expert local support, specifically tailored to their needs. In 2017, Four (4) young persons (2 males and 2 females) were selected and received the sum of One Hundred Thousand Naira (N100, 000) each, at a colorful Award ceremony on June 10, in Makurdi, Benue State(https://www.teivorgbafoundation.org/single-post/2017/07/17/Winners-receive-2017-Young-Business-Leaders-Awards-YBL)
REQUIREMENTS AND CLOSING DATE:
Applications are invited from Young Nigerian Entrepreneurs who meet the following eligibility criteria.
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Applicant must be Nigerian aged 18-35 years, who existing or proposed business must be located in Nigeria
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Show a high level of integrity and a commitment to sustainability
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Copy of birth certificate is required
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Submit a Concept Note and Business Sustainability Plan of not more than 5 pages long
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Closing date for the submission of Nominations is May 31, 2018 by 4pm. There will be no extensions. Nominations sent in after this date and time will not be attended to.
METHOD OF SUBMISSION:
All Nominations (Copy of Birth Certificate, Concept Note and Sustainability Plan, not more than 5 pages long), should be submitted by email to: info@teivorgbafoundation.org
THE AWARD:
The successful applicants will receive a Financial Award in the sum of One Hundred Thousand (N100, 000) Naira each, including an all expenses trip to Young Business Leaders Award Ceremony. The Award recipients will also receive at least six (6) months of training and mentoring support.