Lagos State Government has announced a funding support of 20 million naira for young entrepreneurs with outstanding business proposals. The initiative is being carried out through the Ministry of Youth and Social Development.
The Permanent Secretary, Ministry of Youth and Social Development, Pharm Mrs. Toyin Oke-Osanyintolu, made this known during the formal opening of the Amplifier Business Clinic, organised by the Ministry in partnership with Pelse Consulting at Sam Sonibare Youth Centre, Surulere, on Thursday.
According to Oke-Osanyintolu, the Amplifier Business Clinic was introduced in line with the inclusion of “Youth” as a pillar in the Developmental Agenda of Governor Babajide Olusola Sanwo-Olu in 2023. She explained that the Ministry needed to broaden its activities in youth development to address the challenges faced by young people.
She urged the 92 young entrepreneurs selected from the 700 applicants to make full use of the opportunity. “You must maximise every moment of this business training programme to acquire the skills and knowledge you need to amplify your businesses to justify the money invested in the programme by the state government,” she said.
Earlier in his remarks, the Director of Youth Development, Mr. Abdulateef Saka, stated that the Amplifier Business Clinic is aimed at training young entrepreneurs on how to grow and sustain their businesses. He added that the initiative would help them create jobs and strengthen the local economy.
The Founder of Pelse Consulting, Mr. Femi Boboye, explained that the five-day training would empower young business owners across Lagos with access to funding, business skills, networks, and opportunities to build sustainable ventures. He also noted that the participants would benefit from one-on-one mentorship and coaching to scale their enterprises.