Nigerian youths have been called upon to develop entrepreneurial capacities to translate their ideas, skills, and talents into productive ventures. This call was made by Apostle Lawrence Achudume, the Lead Pastor of Victory Life Bible Church International, during an entrepreneurship empowerment programme. He emphasized that the future of Nigeria's economy depends largely on the ability of young people to create livelihoods and employment opportunities.
Achudume noted that with the growing difficulty of securing conventional employment, it is imperative for young people to look beyond white-collar jobs and develop entrepreneurial skills. He stressed that entrepreneurship should not be viewed merely as an alternative to formal employment but as a vehicle for wealth creation, self-reliance, and economic transformation. This approach is expected to empower young Nigerians to take charge of their economic future.
The Victory Life Bible Church International has been actively involved in empowering young entrepreneurs through its Entrepreneurship Support and Development Committee. The committee, led by Wole Elusakin, identifies viable businesses and supports entrepreneurs with the potential to expand their operations. Elusakin, who is also the Chief Executive Officer of Pomegranate Nigeria Limited, commended the committee's efforts in providing financial assistance and guidance to beneficiaries.
The committee has adopted a non-interest loan model rather than outright grants to instil accountability and ensure that the intervention can benefit more entrepreneurs over time. Beneficiaries are required to repay the principal without interest, and the recovered funds can subsequently be deployed to support other entrepreneurs with viable business propositions. This approach has recorded encouraging outcomes, with some beneficiaries investing funds in their businesses, achieving significant growth, and repaying their loans.
Elusakin disclosed that millions of naira have been approved for beneficiaries under the latest phase of the intervention, covering entrepreneurs operating in different areas of business. The committee also provides guidance to beneficiaries, assessing the nature of their businesses, funding requirements, proposed utilization of funds, and prospects for growth. This comprehensive approach aims to ensure that beneficiaries can sustain their businesses and achieve long-term success.
The entrepreneurship empowerment programme is part of the church's effort to complement spiritual development with practical empowerment. Equipping people to become economically productive will ultimately strengthen families and communities. Beneficiaries of the latest intervention include Stephen Temitayo of Ojulowo Tailor, Adebisi Oluwakemi, Jeremiah Alade, and Mo Glow Bubbles, among others. The programme has received commendation for its innovative approach to supporting young entrepreneurs.
Key stakeholders are urging entrepreneurs with viable business ideas and existing enterprises to take advantage of the opportunity. They emphasize that access to capital must be accompanied by proper planning, prudent management, and a commitment to building sustainable businesses. By doing so, Nigerian youths can drive economic growth, create employment opportunities, and contribute to the country's overall development.
Key points
- The programme adopts a non-interest loan model to instil accountability among beneficiaries.
- The initiative provides guidance and financial assistance to support entrepreneurs in sustaining their businesses.
- The programme aims to empower young Nigerians to drive economic growth through entrepreneurship.
