In a strategic move to drive youth entrepreneurship and economic self-reliance, the Nigerian National Petroleum Company Limited (NNPC Ltd.) has empowered 531 members of the National Youth Service Corps (NYSC) with business startup grants and essential tools to kick-start their entrepreneurial journeys.
The initiative, executed through the NNPC Foundation, provided each selected corps member with a grant of ₦531,000 and business starter packs. This program is part of a broader effort by NNPC Ltd. to support youth-led enterprise development and reduce Nigeria’s high youth unemployment rate.
Speaking during the handover ceremony in Abuja, the Group Chief Executive Officer of NNPC Ltd., Engr. Bashir Bayo Ojulari represented by Group COO Mr. Roland Ewubare emphasized the company’s commitment to empowering Nigerian youth through strategic investments in capacity building and entrepreneurship.
“These are seeds of transformation,” he said. “Use them wisely. What you make of these tools will determine how far your entrepreneurial journey will go.”
According to Mrs. Emmanuella Arukwe, Managing Director of the NNPC Foundation, the empowerment program kicked off in August 2023 and has so far trained over 800,000 corps members. The training covered critical areas such as branding, business viability, funding strategies, and project execution.
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Out of thousands of participants, the 531 selected were chosen after a rigorous selection process requiring a minimum score of 70 percent. Arukwe noted that the program aims to move beyond theoretical knowledge to practical empowerment, enabling participants to turn business ideas into tangible ventures.
The initiative is a collaboration between NNPC Ltd., NYSC, the Corporate Affairs Commission (CAC), and financial literacy firm Kudimata Nigeria Ltd. It represents a public-private synergy aimed at nurturing a new generation of job creators rather than job seekers.
NYSC Director-General, Brigadier General Olakunle Nafiu, lauded the initiative, noting that with over 400,000 corps members passing through the scheme annually, many lack the practical skills needed for employment or entrepreneurship. He expressed optimism that such partnerships would help reduce unemployment and promote economic stability.
For Smartpreneur readers, this development signals growing opportunities in Nigeria’s entrepreneurship landscape, especially with increased corporate interest in youth empowerment and sustainable business development. Programs like this not only offer capital but also a support system that enables long-term growth which is a critical need for any aspiring entrepreneur.
