The Nasarawa State government has launched a N1 billion grant program. It will support 350 young people who want to start their own businesses.
At the graduation of the pilot batch in Lafia Governor Abdullahi Sule shared the details. The program is a partnership between the state and Interweave Solutions International. Both contributed N500 million each to the fund.
Fifty youths took part in the first phase. They were selected from all 13 local government areas in the state. They were trained in business skills and planning.
The money given to them is not a loan. It is a grant. They do not need to pay it back. The money is to help them start or grow their small businesses.
Governor Sule said the program supports the state’s plan to encourage business and reduce youth unemployment. It also follows the federal government’s Renewed Hope Agenda.
The aim is to give young people the skills and funds they need. This will help them create jobs for themselves and others. It will also grow the local economy.
Governor Sule said the youth are a big part of the state’s future. He believes they need support to build and lead businesses. They should become job creators not job seekers.
He also said the program was designed as a grant on purpose. This way young people can start fresh without debt.
This is not a loan. It is a grant. We want to remove the financial obstacles that often stand between our young people and their dreams. We are giving them a clean slate and the confidence to start strong he said.
The training in the pilot phase covered important topics. They learned about finance business plans digital tools and how to reach customers.
Future groups will also get the same training. The plan is to reach 350 youths in total.
Officials from Interweave Solutions International said they are proud to be part of this effort. They said the goal is not just to give money. They want to help build strong business leaders.
They also promised to support the youth after the training. This includes mentorship business checks and community support.
The program also wants to connect young people. They will share ideas work together and support each other.
The state plans to open a business hub for these new entrepreneurs. It will offer services like branding legal help marketing and delivery support.
Nasarawa is leading by example with this new program. Other states may learn from it.
Governor Sule said the final goal is bigger. The state wants to grow a strong fair economy. It should be powered by young smart and creative people.