In its efforts at ensuring economic growth, eradication of poverty and unemploymemt in Nigeria, a non governmental organisation, Zakat and Sadaqat Foundation (Z and S) has empowered no fewer than 168 Small and Medium Enterprises ( SMEs) with about 90 million naira grant.
The executive director of the organization, Prince Sulayman Olagunju disclosed this at the presentation of grants to the winners of its eighth edition of its annual entrepreneurship development project otherwise known as business plan competition (BPC) in Lagos.
The prize giving ceremony was held on Wednesday at the Westwood Hotel, Ikoyi Lagos with friends and family members gathered to cheered home the winners with the Managing Director/CEO of Noor Takaful Insurance Ltd, Mr Rilwan Sunmonu chairman on the occasion.
The eighth edition of the BPC produced eight star winners and 12 runners up in the idea and growth categories of the competition. The star prize winners smiled home with one million naira each while the 12 runners up got N200,000 each in their accounts.
Prince Olagunju said; “This is the eighth edition of the project since inception in year 2015, we have been consistent in supporting, creating and managing small-scale businesses for the past nine years across the length and breadth of our dear country, Nigeria.
Undoubtedly, the BPC has been impactful on the youth and the larger society from the intervention since its comencemet till date, with direct beneficiaries of 168 and indirect beneficiaries of 1,165, and the total sum of over Ninety Million Naira (N90.000.000) expended, including administrative expenses.”
The chairman of the occasion, Mr Sumonu expressed heartfelt gratitude to the organisers, mentors, and judges who were instrumental in guiding and evaluating the budding entrepreneurs, adding that their dedication has been crucial in bringing the competition to the remarkable moment.
He also celebrated the outstanding achievements of the finalists, while recognizing their drive, innovation and dedication to building a brighter future for themselves, their communities and the world at large.
“These talented individuals are equipped with the ideas and determination to flourish in the business world, yet often find themselves constrained by financial limitations. The BPC was created to address this very issue and provide a platform for these aspiring entrepreneurs to turn their dreams into reality,” he said.
According to the MD of Noor Takaful Insurance Ltd, In today’s world, where innovation and entrepreneurship play a pivotal role in economic growth and development, it is our duty to nurture and support the next generation of business leaders. The BPC did not only empowers our young entrepreneurs but also aligns with the principles of Islamic finance and the spirit of community support that Noor Takaful Insurance Limited holds dear.
“As we gather here today, we will witness the culmination of a journey that has brought together talent, creativity and determination. The participants in this competition have invested their time, energy, and ingenuity into crafting business plans that not only hold promise but also reflect their unwavering commitment to success.”
One of the winners, Malam Habeeb Adepoju, the Director of Al-Arqam Schools of Arabic and Islamic Studies, a weekend Arabic and Islamic school based in Ijebu Ode Ogun, couldn’t hide his excitement as he spoke with Muslim News.
He said, “I feel happy and elated. I am happy because the competition involved about 100 people. It was just a fortune because I had to restart the registration for this competition a day before the closing date. And I feel very excited about winning this competition.
The eight-star prize winners of the 8th edition are Adam Zainab Oyindamola, Dhikrullah-Badru Sumayyah Adenike, Salaudeen Nafisat B, Adepoju Habeeb Aderemi, Oparemi Khadijah Olaitan, Idrees Fatima Adetoun, Shittu Nimotallah Adetunminu and Jimoh Agboyega Wasiu.
The runners-up are Lawal Tunde Ayoola, Sanni Moshood Abiola, Jimoh Yusuf, Babs DhulQuamay Oolanrewaju, Agboola Olalekan AbdulRahman, Owodunni Aisha, Lawal AbdulAzeez Olamilekan, Adeleke Zainab Aderonke, Dauda Kazeem Kala, Fatai Teslim Balogun, Davis Ibrahim Ayomide and Bello Shamsudeen Munirudeen.
One of the highlights of the event was the unveiling of a new logo to reflect the Foundation’s primary objective of delivering quality Zakat assessment, collection and distribution services to both private and public individuals.
