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From Uche Usim, Abuja
To help solve Nigeria’s unemployment nightmare and grow the economy, Seplat Energy Plc has dolled out N16.5 million to 23 budding entrepreneurs as seed money, under its Global Entrepreneurship Fellowship Programme.
The scheme is operated in collaboration with Conversations 4 Change (C4C), a Non Governmental Organisation.
The recipients underwent training and mentorship programmes sponsored by Seplat in preparation for the real world.
Speaking at the 2023 edition of the Seplat Global Entrepreneurship Fellowship Programme in Abuja on Monday, Dr Chioma Nwachukwu, who represented Seplat management, said the programme is aimed at developing participants’ leadership skills, social entrepreneurship and business management abilities, through generalised and targeted capacity building workshops.
“The graduates’ ability to act on their ideas is supported through equipment funding, as well as mentoring. This year, we are celebrating the 23 successful graduates who received a cumulative funding of ₦16.5 million in seed money. Through this programme, we aim to enhance their lives by giving them the opportunity to forge their own way and have a say in the future of their country.
“According to the International Labour Organisation (ILO), the global unemployment level is slated to rise in 2023 by around 3 million, to 208 million (corresponding to a global unemployment rate of 5.8 per cent).
“In Nigeria, as we may all know, Youth unemployment is a major concern. According to the 2022 Nigeria Bureau of Statistics, the nation’s unemployment rate rose to 33.3 per cent, compared to 27.1 per cent in Q2 2020. This implied a staggering 23.18 million persons of Nigeria’s labour force being out of job. It further indicated an increase in the country’s unemployment portfolio, mostly among young and able youths.
“That is why, at Seplat Energy, we are proud to play a pivotal role in changing the narrative for young people in Nigeria”, she explained.
Mrs Nwachukwu added that since 2019, Conversations For Change and Seplat Energy Plc have worked together to ensure that we improve the lives of young Nigerians by supporting them to start and sustain their business enterprises.
“Through this partnership, we have successfully trained and supported three batches of fellows; about 55 young entrepreneurs who are thriving, despite the odds stacked against businesses in the country.
“Each beneficiary has shown resilience, creativity and innovation through the duration of the yearly programme and have now become our proof of concept that we can truly make Nigeria better by investing in the youth, one young person (or more) at a time.
“From the selection process to intensive face-to-face training on key management aspects of business, participation in internship trainings with credible companies in their area of vocation and the support provided to each of their businesses, these activities of the fellowship program have produced innovative and well equipped young social entrepreneurs, ready to take on the world of business and succeed.
“Seplat Energy CSR over the last 11 years have been hinged on the pillars of Health, Education, Infrastructural Development and Economic Empowerment. We believe that the greatest route to the economic growth of Nigeria is through economic empowerment of particularly the youth, women and underserved.
“Our CSR Programmes are aligned to the close out of SDG 1 (no poverty), SDG 2 ( Zero Hunger), SDG 3 (good health and well-being), SDG 4 ( Quality education),and SDG 8 ( decent work and economic growth),” she explained.
She further stated that Seplat partnered with C4C because it speaks to SDG 8 among other reasons.
She revealed that 574 persons have been trained under the Teachers Empowerment STEP.
Also speaking at the event, the former Director General, Securities and Exchange Commission (SEC), Ms Arunma Oteh Arunma Oteh hailed Seplat for the initiative, saying that Nigerians would do better in the MSMEs’ space once they are well supported.
“Nigerians don’t want handouts. Just create an enabling environment and watch them prosper. The government has not really done a good job in creating the enabling environment.
“However, the FG can’t do it alone. MSMEs are the backbone of the economy. 70% employment in most economies is hosted by MSMEs. We need to support them,” she said.
