A total of 350 entrepreneurs in Nasarawa State are set to benefit from a N1 billion funding initiative aimed at supporting business start-ups and promoting self-reliance among youths. Governor Abdullahi Sule announced the development during a graduation ceremony for the pilot batch of 50 participants in Lafia, the state capital.
The funding scheme is a collaborative effort between the Nasarawa State Government and Interweave Solutions International. Each party contributed N500 million, bringing the total fund to N1 billion. Governor Sule noted that the initiative is designed to drive entrepreneurship, reduce unemployment, and address youth restiveness, in line with President Bola Tinubu’s Renewed Hope Agenda.
The governor explained that the 50 initial beneficiaries, selected from the state’s 13 Local Government Areas, were trained in modern business strategies. They will receive grants—not loans—to launch and sustain their ventures.
Commissioner for Youth and Sports Development, Yakubu Kwanta, said the programme reflects the administration’s ongoing commitment to youth empowerment. He pointed out that since 2019, the government has launched numerous initiatives, recognising that young people make up over 70 percent of the state’s population.
Kwanta added that monitoring mechanisms are in place to ensure the funds are properly used for business purposes. As the pilot group progresses, other batches will be trained and supported in subsequent phases.
Dr Exodus Esuku-Ibor, Country Director of Interweave Solutions International, commended the state government for its dedication to youth empowerment. He explained that the 50 youths were organised into five cooperatives, each consisting of 10 members and registered under a business name.
Each cooperative has opened a bank account in its registered name, where the grants will be deposited to ensure transparency. Esuku-Ibor also stated that the disbursements would be made in phases, based on the cooperatives’ progress, to prevent misuse of the funds.