🇳🇬NigeriaWest Africa
Ekiti State government and First Bank disburse ₦50 million in grants to 300 entrepreneurs
via Punch Nigeria2 min read
The Ekiti State government, in partnership with First Bank, has disbursed ₦50 million in grants to 300 innovators and entrepreneurs. Beneficiaries received between ₦150,000 and ₦1 million through the Innovation Enterprises Support Fund, designed to help scale their businesses. First Bank's Chief Executive Officer, Mr Olusegun Alebiosu, stated that the initiative aligns with the bank's commitment to financial inclusion, SME development, and youth empowerment. He added that the collaboration provides mentorship and market access, focusing on strengthening the innovation ecosystem, creating jobs, and supporting youth, women, and underserved communities. Governor Biodun Oyebanji, represented by his Chief of Staff, Mr Niyi Adebayo, described the partnership as a testament to public and private sector collaboration for sustainable development. The Governor emphasized that the initiative includes capacity building, mentorship, and a capability framework to ensure long-term success for beneficiaries. Mr Seun Fakuade, Commissioner for Innovation, Science and Digital Economy, explained the program as a four-phase initiative involving application, selection, boot camp training, iteration, and disbursement, aiming to transform Ekiti into a digital hub. A beneficiary, Mrs Ronke Aderonmu, praised the efforts of First Bank and the state government.
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This summary was AI-generated from a story originally published by Punch Nigeria.
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