The Bank of Industry (BoI) has strengthens its partnership
with Heritage Bank Plc to boost entrepreneurship in the country through
innovative ideas support and financing.
Speaking at the opening of Live Well Bia Foods Outlet in
Surulere, Lagos, the Acting Managing Director, Bank of Industry, Mr.
Waheed Olagunju, said young entrepreneurs will lead the recovery of the
Nigerian economy.
Olagunju said that improved investment will activate a quick
recovery of the economy of the country that has been in a state of decline.
According to him, supporting young entrepreneurs through
funding is necessary to improve the quality of life of many Nigerian youths
with desire to be self-reliant.
"BoI will continue to support youths with innovative
projects like this venture because he has not just created a job for himself
but many others in the value chain."
He noted that visionary and talented youths with viable
business plan would be supported by the bank to drive the industrialization of
the country.
"This is a BoI supported project through Prinsult
Consulting, one of the 200 Business Development Service Providers (BDSP) of the
bank", Olagunju said.
He said that the Graduate Entrepreneurship Fund (GEF) and
the Youth Entrepreneurship Support Programme were some of the initiatives of
the bank targeted at financing young entrepreneurs.
Olagunju urged parents to support their children in their
quest for success in their entrepreneurial ventures.
Chief Executive Officer, Prinsult Consult Limited, Mrs.
Raliat Ibrahim Oyetunde, said that BoI and Heritage Bank Small and Medium
Enterprises supported programmes would take the country through its youths out
of recession.
"It is in time of recession that new millionaires will
emerge. This is an opportunity for the young ones between 18 and 35 to key into
the various financing channels of the banks. The documentation and financing of this project was
concluded with due diligence within six weeks which for me is a big
feat", she stated.
Her words: “We need more young entrepreneurs like Fadesola
to take Nigeria to the next level because the outlet will be opened in 47 other
locations across the country before the year ends.”
Mr Fadesola Adedayo, Managing Director, Bia Live Well Outlet
said that passion, mentoring and finance were critical to budding entrepreneurs.
It would berecalled that Heritage Bank in partnership with
the Centre for Values in Leadership (CVL) recently graduated 100 young
entrepreneurs in the CVL Young Entrepreneurship Training Programme (YETP) in
Ajegunle, Lagos.
The CVL is aimed at identifying young people, especially
youths in densely populated communities and putting them through a full year of
training in small business management.
These young entrepreneurs who have been trained in various
skills such as catering, bead making, event management, fashion design, arts,
hair dressing, shoe cobbling among others have also imbibed comprehensive
business.
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