NLNG reveals the reason for giving N2 million grants to small business owners

• The Nigeria Liquified Natural Gas (NLNG) revamped its economical empowerment schemes, unveiling the expanded concern support
• The institution disclosed that the caller scheme, present known arsenic VIBES from YES, volition supply $1,300 to tiny businesses and youth-owned enterprises
• The move, NLNG said, is to beforehand entrepreneurship successful big communities successful Rivers State

Legit.ng’s Pascal Oparada has reported connected tech, energy, stocks, concern and the economy for implicit a decade.

The Nigeria Liquified Natural Gas (NLNG) has relaunched the economical empowerment schemes and unveiled expanded concern enactment and $1,300 grants each to boost tiny businesses and youth-owned enterprises successful 110 big and pipeline communities successful Rivers State.

The programme, which was formerly known arsenic the Youth Empowerment Scheme (YES), was rebranded to boost maturation and tiny business sustainability.

NLNG announces the relaunch of its empowerment programme, plans to springiness N2 cardinal successful grants. Credit: MoMo Productions
Source: Getty Images

NLNG revamps YES to VIBES scheme

The strategy present known arsenic the Vocational, Innovation, Business, and Employment Scheme (VIBES) is designed to physique connected the YES achievements and guarantee advancement.

The General Manager, External Relations and Sustainable Development astatine NLNG, Sophia Horsfall, disclosed that the strategy shows the company’s semipermanent plans for assemblage translation via entrepreneurship.

She disclosed that the institution believes successful entrepreneurship and not conscionable starting a business, stating that it is astir creating opportunities that assistance communities to thrust economical advancement and affirmative societal change.

She disclosed that VIBES is simply a deliberate strategy to thrust entrepreneurial cognition and the networks required to turn entrepreneurs and alteration agents.

The VIBES strategy to bid 1,400 youths

The YES strategy has trained implicit 1,400 youths successful vocational fields specified arsenic car engineering, precocious welding, catering and edifice management, fashion designing and cosmetology, workplace management, ICT, photography, and video production.

The Guardian reports that astir 300 trained entrepreneurs presently ain viable businesses, which the VIBES programme wants to adjacent via targeted support, funding, and mentorship.

Horsfall stressed that the scheme’s relaunch was driven by the request to retool empowerment strategies.

She said:

“We judge that VIBES volition foster an situation wherever individuals tin make businesses, make employment, and go innovators. This content drives our committedness to nurturing section capableness and enabling individuals to go creators of jobs, wealth, and lasting impact.”

According to reports, VIBES is simply a modern solution which offers enhanced enactment via networking opportunities, grants resources, and mentorship to assistance participants refine and standard ideas.

NLNG exports to bid beneficiaries

The NLNG spokesperson said that the institution assembled experts successful entrepreneurship, concern development, law, technology, and innovation successful respective different fields for mentorship grooming for prime concern owners.

She disclosed that the strategy volition supply broad concern training, including courses connected fiscal management, marketing, strategical planning, law, and ineligible practices.

“Beneficiaries volition beryllium administered professional, practical, participative grooming designed to physique robust method and managerial capacity, she said.

FG to merchandise N700 cardinal to MSMEs

The improvement comes arsenic the Federal Government of Nigeria announced the motorboat of the seventh variation of the Micro, Small, and Medium Enterprises (MSMEs) Award, which volition beryllium held this year.

Tola Adekunle-Johnson, Senior Special Assistant to the President connected Job Creation and MSMEs, said the exertion portal for this twelvemonth opened connected March 7 and ran done April 7, 2025.

Nigerian women to payment from FG's N5 cardinal star fund. Credit: Novatis
Source: Getty Images

Winners to person N220 cardinal worthy of prizes

Speaking astatine a property briefing, Adekunle-Johnson said the wide victor of the 2025 MSMEs Award volition person a car, a house, a shop, and a currency prize – each worthy N220 million.

Other winners – the 2nd and 3rd runner-ups – would person a prize worthy astatine slightest N50 million, arsenic the lawsuit whitethorn be.

Also announcing a caller twist to the yearly award, Adekunle-Johnson said a caller class has been created for People With Disabilities (PWDs). 

According to him, the PWDs are besides not constricted to this class but are encouraged to use to different categories they besides deem fit.

Calling prospective MSMEs to prehend the accidental and apply, Adekunle-Johnson said applicants are expected to upload a two-minute video online via the MSMES Award portal wrong the stated timeframe.

FG opens N5 cardinal star inaugural for women

Legit.ng antecedently reported that the Nigerian government, via the Nigerian Consumer Credit Corporation (CREDITCORP), has launched a N5 cardinal clean vigor strategy to supply affordable entree to star location systems for Nigerian women successful each 774 section authorities areas nationwide.

CreditCorp’s managing director, Uzoma Nwagba, disclosed that the recognition would beryllium disbursed nether the Credit Access for Light and Mobility (CALM) Fund.

Nwagba said the strategy seeks to make sustainable and inclusive backing opportunities, allowing women to powerfulness their homes and tiny businesses with cleanable and reliable power.

PAY ATTENTION: Сheck retired quality that is picked exactly for YOU ➡️ find the “Recommended for you” artifact connected the location leafage and enjoy!

Source: Legit.ng