ABUJA, Nigeria – Mediaage NG News – The Chief Executive of Ugwumba Leadership Centre, on Tuesday called for more support initiatives for young talented Nigerian minds who have reposit of ideas in them that can be turned into cash flowing ventures that can improve their lives and the Nigerian economy.
He spoke at the 2023 Ugwumba Enterprise Challenge Ideating, Pitching and Funding in the Nigerian capital, Abuja.
The Ugwumba Enterprise Challenge is an annual idea pitching and grant competition for young entrepreneurs in Nigeria, for the purpose of promoting innovations, job creation and economic development in the country.
“This is our little contribution in alleviating poverty in the country. We have trained, followed them up and encourage them. Since we began in 2018, we have trained over 5,000 young persons and so far, they are doing well and exporting their products and services outside the country”, Mr. Ugwumba Uche Nwosu said.
According to the Nigerian Economic Summit Group (NESG), the country’s unemployment rate will hit 37% by the end of 2023 and in another report, it is estimated that in Nigeria, more than 55.4% youth between the ages of 18 and 35 are currently unemployed.
The Ugwumba Enterprise Challenge was launched to raise a new generation of leaders and entrepreneurs in Africa and contribute towards unemployment reduction in Nigeria. It aims to discover, train and support young entrepreneurs and innovators who have ideas that can be transformed into business ventures or social enterprise.