The Edo State Government has awarded ₦40 million in grants to 10 youth-led ventures under the Seed, Growth and Scale categories as part of efforts to support business development and encourage young entrepreneurs to transform their ideas into viable enterprises.

Governor Monday Okpebholo announced the grants during the Edo Youth Impact Forum in Benin City. The forum was themed “Building Nigeria’s Innovation: Empowering Young People with Technology, Capital and Opportunity.”

Represented at the event by his deputy, Dennis Idahosa, Okpebholo said the intervention was designed to give young people practical support to develop their businesses, create employment opportunities and contribute to Edo State’s economy.

The governor said many young people possess innovative ideas and skills that can be used to establish businesses and address everyday challenges, but often lack the capital and opportunities required to develop those ideas into sustainable ventures.

“Today, we are not simply telling youths to believe in their ideas; we are also putting resources behind those ideas,” Okpebholo said.

He encouraged the grant beneficiaries to regard the funding as an opportunity to expand their ventures while also recognising it as a vote of confidence in the businesses they are building.

According to the governor, the state’s youth empowerment strategy goes beyond providing employment. He said the government is also focused on creating an environment that enables young people to establish businesses, attract investment and pursue innovation.

Okpebholo noted that government could not employ every young person, making enterprise development an important pathway toward greater economic independence for the state’s youth.

He also pointed to the opportunities offered by technology, information and access to broader markets, urging young entrepreneurs to use these tools to build businesses capable of competing effectively.

“Our administration wants to build an Edo State where young people have the opportunity to work, innovate, invest and prosper,” he said.

The ₦40 million grant programme covers youth-led ventures operating at three stages of development: Seed, Growth and Scale. The structure provides financial support to businesses at different points in their development.

The Edo State Government expects the intervention to enable the selected ventures to strengthen their operations, take advantage of growth opportunities and contribute to job creation and wider economic activity across the state.

Source: MSME Africa Online