Renaissance Africa Energy Limited has awarded business grants to 215 young entrepreneurs in the Niger Delta as part of efforts to promote enterprise development and sustainable economic growth in the region.

The beneficiaries were recognised at a graduation and award ceremony held in Port Harcourt, Rivers State, where the company’s Vice President, Relations and Sustainable Development, Igo Weli, disclosed details of the programme.

According to Weli, the 215 entrepreneurs were selected from 21,000 applications received for the initiative. The selection process included training and the development of business plans before the final beneficiaries emerged.

He said the volume of applications reflected the strong interest among young people across the Niger Delta in building businesses and generating economic opportunities despite the challenges confronting entrepreneurs in the region.

“Thousands of young men and women across the region are developing ideas, identifying opportunities and seeking opportunities to build businesses,” Weli said.

The vice president said the initiative was part of Renaissance Africa’s wider efforts to strengthen enterprise development and promote sustainable economic growth across the Niger Delta.

Weli encouraged the beneficiaries to manage their businesses with discipline, patience and consistency, stressing that establishing sustainable enterprises requires a long-term commitment.

He further urged the entrepreneurs to concentrate on addressing genuine problems, delivering value to customers, earning trust and continually expanding their knowledge.

“Success is not measured only by how much money you make, but also by how many opportunities you create for others,” he said.

The ceremony also marked the launch of the NNPC Renaissance Initiative for Sustainable Enterprise, a platform focused on enterprise development and designed to build on the 22-year legacy of the company’s LiveWIRE programme.

Weli said LiveWIRE, which was previously operated under Shell Petroleum Development Company of Nigeria, had trained about 11,000 young entrepreneurs across the Niger Delta. The programme also supported thousands of businesses that continued to operate.

He noted that some former beneficiaries had expanded their enterprises to become employers of labour, suppliers and business partners, while others had emerged as role models within their communities.

Renaissance Africa acquired the Shell Petroleum Development Company of Nigeria Joint Venture in March 2025 after Shell exited the joint venture’s onshore operations.

Speaking at the event, the Acting Chief Upstream Investment Officer at NNPC Upstream Investment Management Services, Olanrewaju Igandan, said the programme had equipped the graduates with practical tools and knowledge extending beyond the certificates they received.

Igandan said young entrepreneurs required opportunities, structure and sustained support to convert their ideas and potential into viable businesses.

The latest grants and enterprise development programme provide financial and capacity-building assistance to beneficiaries as they transition from developing business ideas and undergoing training to establishing and growing enterprises.

The support also has the potential to generate additional jobs and create further economic opportunities within the beneficiaries’ communities.

Source: msmeafricaonline.com