Tony Elumelu To Empower 1,000 Northern Entrepreneurs With $5000 Each
Chairman and Founder of Tony Elumelu Foundation, Mr. Tony Elumelu, has promised to empower at least 1000 young small and medium scale business (SMEs) owners in northern Nigeria, with a whooping sum of $5000 each.
Elumelu who is the Chairman of United Bank for Africa Plc said that the new empowerment opportunity is strictly reserved for young business-minded northerners and it will run for 12 weeks after which successful beneficiaries will receive the $5,000 sum each to build their business empires.
He made the statement on Saturday at Bayero University Kano (BUK), while receiving Doctor of Business Administration, Honoris Causa from the university.
He stressed that Nigeria has no business with poverty if only concerned authorities deployed the needful policy strategy to explore deposited talents abound in the country. He added that the empowerment is his foundation’s contribution to reduce the country’s poverty rate
He restated his foundation’s commitment to collaboration with stakeholders to build millions of entrepreneur in Africa.
He also called on the Federal Government to abolish multiple taxation for small and micro businesses and ease process of business registration, so as to further grow economic viability in the country.
“The new empowerment opportunity is strictly reserved for young business-minded northerners will run for 12 weeks after which successful beneficiaries will receive $5,000 each to build their business empires.
“The Tony Elumelu Foundation has in the last five years supported 7,250 young entrepreneurs in Nigeria and Northern Nigeria has deposit of 1,000 of this number.
“These new 1,000 entrepreneurs that will be selected in August is exclusive for youths from northern extraction.
“The initiative is to produce direct job opportunity and Business Empire among young talented youths in the North.
“While the private sector is supporting the youths, the Federal government should provide enabling environment.
“Our education must work. Health sector should be improved upon. National prosperity cannot be achieved without wide spread empowerment.”
“Today, you graduated 10, 000 people, the point is, are that are they going to get jobs?
“Are they going to be able to use their brain or use find ideas for developing themselves and their communities?
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