Youth and sports minister awards soft loans to young entrepreneurs


The minister of youth and sports, Sunday Dare, Wednesday, promised a group of young entrepreneurs soft loans as support for their businesses.

Mr. Dare made this pronouncement in Abuja at the My Nigerian Dream event; an annual event organized to empower young Nigerians by the ‘I choose Life Foundation’-a Non- a Governmental Organization working to promote the mental, emotional and physical well-being of young people in Nigeria.


we are giving them an automatic amount that will support their enterprise.”

He said the entrepreneurs will get between N250, 000 to N3 million naira loans, depending on the algorithm’s prediction used to calculate what each business requires.

The beneficiaries of this soft loan are young fashion designers, shoe and bag makers who participated in a creativity competition themed “Beauty, Brains, and Brawns: Mental Health and Coping Mechanisms”.

The competition received 268 entries from young Nigerians in different parts of the country with 10 finalists awarded soft loans by the ministry of youth and sports.

According to Chijioke Obioma, coordinator of the ‘I choose Life Foundation’, “the project aims at empowering Nigerian youths, providing an alternative for them to stay away from drug abuse, depression, suicide, and cybercrime.”

Mr Obioma said the foundation is creating these new models for young people and their works to be in the spotlight to serve as an encouragement to others “to embrace life and stay away from illicit activities.”

An elated Favour and Dominion Obakpolor, students of the University of Benin, one of the beneficiaries, said they were grateful for a platform to showcase their craft to the world.

“We are really looking forward to the loan. It will help us move our business forward and put our plans into action,” the excited twin sisters said.

Olasukanmi Ismail, another beneficiary, had to leave school to start fashion designing to cater for his three sisters who are in school and parents, said with this, he would be able to get an office space and move from the canopy where he currently works from; buy an additional sewing machine and employ another young person to work with.

“I encourage young people out there to stay away from drugs and keep believing and doing what they do best and one day, God will change their lives.”

Source: Premium Times.



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