Nigeria: 'Good Business Ideas Will Assist Youths Access Investment Fund'

Map of Africa (file photo).
16 December 2020

The Minister for Youths and Sports, Mr. Sunday Dare, has said good business ideas would help youths access the N75 billion Nigeria Youth Investment Fund (NYF) created by the federal government to support small and medium scale enterprises (SMEs).

He said entrepreneurship has a critical role to play in solving Nigeria's unemployment problems, adding that the world was looking beyond qualifications to get things done.

Dare disclosed during the Junior Achievement Nigeria, (JAN) National Company of the Year Competition (NCOY) virtual event held recently.

The minister said the programme was enriching and promising for students to achieve their life ambitions and solve societal problems.

"The technological skills the participants exhibited showed that Nigeria has a future in younger generations," he added.

At the end of the competition, New Phase, Brookstone Secondary School, River State that produced Eco-friendly Building Block emerged the winner, while Amazing Amazons student from Government Girls Secondary, Abuja emerged first runner up and Jikoru, Alvana Secondary School, Owerri, emerged second runner up.

In her Goodwill message, the Group Head, Marketing and Corporate Communications, First Bank Nigeria Limited, Mrs. Folake Ani-Mumuney, said the 10th anniversary of NCOY was a significant milestone.

She also stated that NCOY brings together outstanding students and business teams across Nigeria to compete to represent Nigeria at African Company of the year, JA programme,

Ani-Mumuney expressed delight over the annual celebration of the event, noting that it has given young people an opportunity, "to demonstrate their business acumen and spirit of entrepreneurship in a competitive environment."

Continuing Ani-Mumuney, "First Bank Nigeria have been involved with JAN for several years, and it is also one of the many fronts for engagements with the next generation of Nigerians who will create the innovative future that we all aspire for. "Our partnership with JAN in the NCOY has made a decade of impact and illustrations, driven by the very products and services created by young minds to solve real problems facing society.

"Also, the problems facing the businesses they put in place to successfully produce and market the product in a sustainable manner, and impact their local communities."

In her remarks, the Director of Marketing and Innovation, Oduolayinka Osunloye, said the NCOY is an opportunity for them to showcase the depth of potentials that lies within the students.

She also stated that this is the first time the event would be organised virtually, adding that it would not be an exception "as we should be ready to experience creativity in another dimension."

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