abuja business plan competition

FCTA Inaugurates 4th Edition of Abuja Business Plan

Nigeria’s Federal Capital Territory Administration, FCTA has launched the 4th Edition of Abuja Business Plan Competition, ABPC.

At the launch of the ABPC, the FCTA reiterated its commitment to prioritising young entrepreneurs skills development as a measure to bridge the gap and support economic growth in the nation’s capital.

The FCTA’s Permanent Secretary, Mr Adesola Olusade, gave the assurance when he officially launched the ABPC in Abuja.

Olusade said that the Abuja Business Plan Competition was one of the innovative platforms the administration designed to foster youths’ participation in harnessing their potential and also generating wealth.

Producing Young Entrepreneurs

He said the previous competitions had produced young entrepreneurs, who became emerging leaders in the business world through their skills, products and services and already exporting outside Nigeria.

“ The FCT Administration believes firmly in the huge potential of young Nigerians in producing the future business leaders and innovators who will rejuvenate the economic growth of our nation.

“That is why we are investing heavily in youth development projects, programmes and interventions like the Abuja Business Plan Competition which has the potential of creating jobs, generating wealth and building the next generation of business leaders,” Mr. Olusade explained.

Partnering With Other Organisations

Earlier, the Managing Director, Abuja Enterprise Agency AEA, Malam Shehu Abdulkadir, said the agency was partnering with several organisations to deepen the impact of the competition, while strengthening the achievements of the past.

According to him, the ABPC is designed to support SMEs growth by encouraging proper business plan writing and promote healthy competition among entrepreneurs.

He said that the competition would initiate an arena to enable large businesses and banks support upcoming entrepreneurs, and build a network of resources for mentorship, team creation, education and venture financing.

“This is the first of many that are yet to come and I believe we have a lot to do in partnership with Japan International Cooperation Agency, JICA from the Digital Innovation Academy.

“We are hoping to commence the process of engagement towards having the project executed in the FCT.

“I believe the project will support directly nothing less than 200 people,” he said.

The Director-General, Small and Medium Enterprises Development Agency, SMEDAN, Mr Wale Fasanya hinted on donating an award to the winners of the competition.

Interest Free Loans

Fasanya also explained that the agency was collaborating with some financial Institutions to give interest-free loans to the young entrepreneurs.

In his remarks, Chief Representative of JICA, Yuzurio Susumiu said his country was interested in the youths entrepreneurial skills development because of its belief that the future lied with them.

Susumiu acknowledged that Nigerian youths were already doing well in the area of innovative ideas and business development.

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Fcta launches abuja business plan competition.

Olawale Ajimotokan in Abuja

The Federal Capital Territory Administration (FCTA) has launched the 4 th  Abuja Business Plan Competition (ABPC), which is one of the innovative platforms it designed to foster youth participation in harnessing their potentials and generating wealth. 

The FCT Permanent Secretary, Adesola Olusade, who launched the competition, said the FCTA believed firmly in the huge potentials of young Nigerians in producing the future business leaders and innovators who will rejuvenate the economic growth of the country

“That is why we are investing heavily in youth development projects, programmes and interventions like the Abuja Business Plan Competition which has the potentials of creating jobs, generating wealth and building the next generation of business leaders,” Olusade said.

In his remarks, the Director General, Small and Medium Enterprises Development Agency (SMEDAN), Wale Fasanya, said the agency would donate an award to the winners of the competition. 

He added that SMEDAN was also collaborating with some financial Institutions to give interest free loans to the young entrepreneurs. 

Also speaking, the Managing Director Abuja Enterprise Agency, Shehu Abdulkadir, said the agency was partnering with several organisations to deepen the impact of competition, while strengthening the achievements of the past.

The Chief Representative of Japan International Cooperation Agency (JICA), Yuzurio Susumiu, said Japan was interested in the youths’ entrepreneurial skills development because of its belief in that the future lies with them.

He acknowledged that Nigerian youths were already doing well in the area of innovative ideas and business development. 

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Abuja Enterprise Agency Empowers SMEs Through 4th Business Plan Competition

Abuja, Nigeria – The Abuja Enterprise Agency (AEA) has successfully organized its 4th Abuja Business Plan Competition, aimed at bridging the access-to-credit gap that has been hindering the growth of Small and Medium Enterprises (SMEs) in Nigeria.

The competition, established in 2008 by Abuja Enterprise Agency, an agency of the Federal Capital Territory Administration (FCTA), provided a platform for entrepreneurs to showcase their talents across various sectors, including agriculture, social enterprise, innovation, green technology, and information technology.

Mr. Shehu Abdulkadir, the Managing Director/Chief Executive Officer of Abuja Enterprise Agency, highlighted the vital role of SMEs in job creation, poverty alleviation, and economic growth. He commended past participants and winners of the Abuja Business Plan Competition, stating that they are currently thriving in their respective fields.

The 4th Abuja Business Plan Competition commenced on February 21, 2023, with over 3,000 applications received. More than 200 MSMEs underwent training on business plan writing, presentation, and pitching skills, competing fiercely in each phase of the competition.

Abdulkadir emphasized Nigeria’s abundance of resources and vibrant population with a culture of excellence and entrepreneurship. He reaffirmed the agency’s commitment to supporting MSMEs by creating an enabling environment for them to thrive. This includes facilitating dialogues between MSMEs and regulatory bodies, improving access to finance through partnerships with financial institutions, and fostering an enabling business environment by reducing bureaucratic red tape.

During the grand finale of the competition, Kabir Olaosebikan of Craft Planet Environment, specializing in Waste Management, Ubani Pearl of MYRIA GEE, specializing in Cosmetics, and Patience Uma of Rabni Social Enterprise/Learning Solution emerged as the top winners. They were awarded N2 million, N1 million, and N750,000, respectively, to support their businesses.

The 4th Abuja Business Plan Competition proved to be an inspirational journey, showcasing the innovativeness of Nigerian youths and further fueling the growth of the country’s dynamic and promising MSME sector.

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Abuja Agency Organises Competition To Boost SMEs In Nigeria

The Abuja Enterprise Agency (AEA) has organised the 4th Abuja Business Plan competition, to bridge the gap of access to credit, which has been identified as the main obstacle hindering the growth of Small and Medium Enterprises (SMEs) in Nigeria.

The competition which provided a platform for entrepreneurs to display their talents in various fields including, agriculture social enterprise, innovation, green technology, information technology among others, was established in 2008 by Abuja Enterprise Agency, an agency of the Federal Capital Territory Administration (FCTA)

The managing director/chief executive officer of Abuja Enterprise Agency, Mr Shehu Abdulkadir while speaking at the grand finale of the 4th Abuja Business Plan Competition yesterday, explained that SMEs are the driving force behind job creation, poverty alleviation and economic growth, that previous participants and winners of the Abuja Business plan competition are presently doing well in their various arras of endeavour. 

Abdulkadir explained that the event was a celebration of the spirit of innovation, perseverance, and entrepreneurship, and that it was in recognition of the incredible achievements of talented participants who have undergone a series of capacity development and through the highly competitive phases of the competition.

“The 4th Abuja Business Plan Competition was flagged off by the permanent secretary, FCT Administration on February 21, 2023 to serve as a platform for entrepreneurs to display their talents in the Fashion, Agriculture, Social Enterprise, Innovation Driven Enterprises, Green Technology and Information Technology sectors of the economy. 

“The participants where provided with a real-world experience to fine tune their business plans thereby successfully commercializing their products or services. The Abuja Business Plan Competition has over the years proven to be highly impactful on the over 2000 MSMEs. Finalists from previous competition have created viable enterprises. 

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“The 4th ABPC has been an inspirational journey indeed, we received over 3000 application, trained over 200 MSMEs on business plans writing presentation and pitching skills who keenly contested in each phase of the competition. This competition is a testament of the innovativeness of the Nigerian youths,” he said.

He further said that Nigeria is blessed with abundant resources and a vibrant population with a culture of excellences and entrepreneurship, that MSMEs are the driving force behind job creation, poverty alleviation, and economic growth. 

“A key pillar of Mr. President’s Renewed Hope mandate is creating an enabling environment for MSMEs to thrive. The Agency has initiated several programmes and activities such as facilitating dialogues between MSMEs and business regulatory organisation in addition to enhancing access to the MSMEs one stop shop. This will provide MSMEs the required institutional support and reduced bureaucratic red tapes they face.

“We also aim to enhance and improve access to finance for MSMEs. We understand that inadequate access to capital remains a significant barrier for many entrepreneurs. Therefore, we are strengthening our partnership with financial institutions to provide low-interest loans, grants, and credit facilities. By improving access to finance, we empower MSMEs to expand their operations and create more employment opportunities.

“We are also fostering an enabling business environment. We recognize that bureaucratic red tape and excessive regulations stifle entrepreneurial growth. Hence, we have fully keyed into the FCT Administrations drive to strengthen coordination amongst SME support and regulatory organizations. These measures are designed to reduce the time and effort required to start and operate a business, allowing our entrepreneurs to concentrate on innovation and productivity. This has culminated in the Agency partnering with CAC to provide a 50% discount for the registration of 2000 businesses,” he said.

At the end of the competition, Kabir Olaosebikan of Craft Planet Environment who specializes on Waste Management, Ubani Pearl of MYRIA GEE who specialises on Cosmetics and Patience Uma of Rabni Social Enterprise/Learning Solution were given N2 million, N1 million and N750, 000 respectively to support their businesses for coming first, second and third in the competition. 

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Winner emerges at the National Business Plan Competition

Usman Ali Lawan, CEO of USAIFA Agro-Allied Ltd has emerged winner of the National Business Plan Competition (NBPC) held in Abuja yesterday. Six hundred companies…

Usman Ali Lawan, CEO of USAIFA Agro-Allied Ltd has emerged winner of the National Business Plan Competition (NBPC) held in Abuja yesterday.

Six hundred companies submitted business plans for the competition with eleven companies emerging finalist.  USAIFO Agro_Allied Ltd beat 10 other finalist to represent Nigeria in the March 24 Annual Investment Meeting in Dubai.

“I pray that when we are in Dubai, we will be able to bring the $50,000 price home. We are in the agricultural sector. We provide financial support, farm extension support and link to rural farmers. We are currently working with 5500 rural farmers, in Niger, Nasarawa and  Borno states” he said.

The Chief Judge at the Business Plan competition, Dr Joe Abah said he was impressed with the Business Plan pitches by the participants as they were innovative and environment friendly.

The Managing Director of the Abuja Enterprise Agency (AEA), Arabi Muhammed Tukur, said competition is designed to give participants the opportunity to bring their ideas and concepts into actualization and become more skilled in writing, analyzing and implementing business plans.

He urged the entrepreneurs to be innovative, creative and lead with integrity.

Country Manager for Nigeria of the Annual Investment Meeting (AIM), Mairo M.T Usman said she is hoping the representative of Nigeria at the AIM will  bring the $50,000 prize home.

The Director General of SMEDAN, Dr Umaru Dikko Radde,  said the agency will sustain development of Micro Small and Medium Enterprises (MSMEs) and the finalist will be captured in the agencies database/market place.

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Two Lagos Corpers, OBS Member Win N1.7m In Business Plan Competition

LAGOS  – John Oluwatobi and Adeyemi Adebisi of the Orientation Broadcasting Service (OBS), at the Iyana Ipaja orientation camp of the National Youth Service Corps (NYSC), emerged winner and 1st runners-up at the Access prenuership Business Plan competition. 

Accessprenuership is a project of Access Bank of Nigeria aimed at developing the business acumen of corps members to be business owners. 

Winners of the event, Oluwatobi and Adebisi were among the five finalists who made it past the preliminary stage and had to slug it out with the other three contestants for the prizes. 

Amuwo Francis emerged as the second-runner up and walked away with N400,000 while Uloho Success came fourth and got a cash prize of N250,000, with an additional N50,000 after her impressive acts on Twitter in line with another competition by the Bank to drive traffic to themselves, seeking online approval, as a contestant in the popular-among corps members competition. 

The fifth position, however, went home with a cash prize of N150,000. 

The five other contestants who got eliminated in the preliminary stage were also rewarded with N100,000 each. 

Apata Oyeniran is a Correspondent at Independent Newspapers Limited. He is professional and management scientist. He has found himself writing on education, tourism/hospitality and business. He is committed, makes people and responsibilities less burdensome.

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PRESSR: Gulf Bank and INJAZ announce 2024 Company Program competition winners

First published: 13-May-2024 08:08:35

“Ni’ma” wins the university students category, and Flash wins the high school students’ category

• Najla Al-Eisa: "We congratulate the winning companies and are keen to support them in representing Kuwait at the regional INJAZ competition in Dubai."
• Supporting youth is a key priority for us, aligning with Gulf Bank's 2025 strategy and Kuwait's vision.
• Our fruitful collaboration with INJAZ for over 18 years has led to the training of 18,000 students in 2023/2024.
• Laila Hilal Al-Mutairi: " the trust of private sector institutions, companies, and supporting bodies is a key factor contributing to the ongoing success of INJAZ”
• The long-term partnership with Gulf Bank has contributed to turning many ideas into successful companies, thus becoming integral parts of Kuwait's economic and business envirionment.
• INJAZ Kuwait has succeeded in training over 120,000 individuals in various training programs during its long journey.

INJAZ, Kuwait concluded the Company Program competition for the year 2024, sponsored by Gulf Bank. The competition took place over two days at the American University of the Middle East (AUM), during which the judging committee announced 12 winning projects from among the competing teams in various categories, including universities and school students.

Gulf Bank, the primary sponsor of the Company Program, recognized the winning teams in front of a large audience consisting of students, parents, volunteers, school teachers, and representatives from supporting companies and organizations.

Continuing its commitment to supporting youth and its long-standing partnership with INJAZ, Gulf Bank acknowledged the top two companies among the winners. These are “Ni’ma”, which won the Best Student Company award in 2024, and Flash the winner in the High School Students' category. This recognition qualifies them to represent Kuwait in the regional Company Program competition involving 14 Arab countries, scheduled to be held in the United Arab Emirates, Dubai, during the last quarter of the current year.

Ms. Najla Al-Eisa, Gulf Bank's Deputy General Manager and Chief Marketing Officer, expressed, "We extend our congratulations to “Ni’ma” and Flash for their well-deserved achievement of winning the Best Company Award for 2024. We commend the pivotal role that INJAZ plays in organizing this annual competition."

Al-Eisa highlighted Gulf Bank's yearly dedication to sponsoring the training provided by INJAZ for the winning projects of the Company Program competition. These projects represent Kuwait in the upcoming regional Achievements competition, scheduled to take place in (Country) next month, with the participation of 14 Arab countries.

She further remarked, "At Gulf Bank, we are proud of our enduring partnership with INJAZ spanning the past 18 years. Throughout this time, we have embraced and supported numerous ideas and companies, some of which have now become integral parts of Kuwait's current economic and business environment."

Al-Eisa reaffirmed Gulf Bank’s dedication to nurturing youth by supporting and enhancing their professional skills, empowering them to adapt to the evolving demands of the local and global job markets. This commitment aligns with Gulf Bank's 2025 strategy, prioritizing youth, and Kuwait Vision 2035, which highlights the significance of investing in young talents.

She mentioned that the Company Program competition is very popular among high school and university students. It gives them a unique chance to gain practical experience in starting and managing a real company. This is supported and sponsored by major institutions, with Gulf Bank in the forefront.

Al-Eisa also pointed out the fruitful collaboration between Gulf Bank and INJAZ, which led to the training of around 18,000 students throughout the academic year 2023/2024. This training encompassed diverse educational levels, ranging from primary school to university, including recent graduates.

INJAZ, Kuwait

The CEO of INJAZ, Ms. Laila Hilal Al-Mutairi, praised the performance of the competing students. She highlighted that the trust of private sector institutions, companies, and supporting bodies is a key factor contributing to the ongoing success of INJAZ Kuwait.

She pointed out that the partnership with Gulf Bank is exceptional, being a strategic partnership that has lasted for many years. Gulf Bank plays a vital role in supporting the INJAZ's initiatives by providing volunteers, and contributing to the delivery of training programs to students.

She also mentioned, "Throughout its journey, INJAZ has provided training to over 120,000 students through various programs, focusing on enhancing youth skills in three key areas: Employability, entrepreneurship, and financial literacy. At INJAZ, we are dedicated to consistently providing resources that empower young people and prepare them to overcome future challenges.

It is important to mention that INJAZ Kuwait is a member of the global network of Junior Achievement Worldwide, a non-profit, non-governmental organization supported by Kuwait's private sector. Through strategic collaborations with Kuwait's business and education sectors, and with the assistance of skilled volunteers, INJAZ provides educational programs in both Arabic and English languages focused on entrepreneurial and leadership skills, aiming to foster successful careers.

Honoring the Judging Committee

The judging panel, headed by Ms. Najla Al-Eisa, the General Manager and Chief Marketing Officer from Gulf Bank, recognized and honored the participants in the Company Program competition.

Prominent Role of Gulf Bank Volunteers

Gulf Bank volunteers played a crucial role in guiding and supporting university and school students involved in the Company Program competition at every stage of the project. Additionally, they conducted programs like mentoring sessions and mock interviews for university students.

What is the Company Program?

The Company Program teaches students entrepreneurial skills, prepares them for the job market, and provides them with financial literacy. Tailored for both secondary and university students, it offers the chance to establish and run a real company.

Students go through the complete stages of starting a new project; starting with a business plan, feasibility studies, team building, fundraising, and finally innovating a product or service and selling it.

Programs and Training Courses

The list of programs and training courses offered by INJAZ Kuwait includes:

• How to Start
• Innovation Camp Workshop
• Company Program
• Little Innovator Workshop
• INJAZ Talks
• Lifetime Project
• My Career Path

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

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