Empowerment
AICL Expands Youth Enterprise Drive, Awards N9.75m to Startups
AICL Awards N9.75m to nine startups in Abuja, supporting youth innovation across ICT, creative and agribusiness sectors
The Abuja Investment Company Limited (AICL) has strengthened its youth entrepreneurship drive by awarding N9.75 million to nine innovative startups at the 2026 Abuja Young Entrepreneurs’ Hunt in Abuja on Tuesday, 21 July 2026.
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The initiative recognised emerging businesses in information and communications technology (ICT), creative industries and agribusiness while providing winners with opportunities for mentorship and investment connections.
The programme, organised in partnership with the Abuja Enterprise Agency (AEA), rewarded three winners from each sector with cash prizes of N1.5 million, N1 million and N750,000 to support business expansion and sustainability.
Speaking at the event, AICL Group Managing Director and Chief Executive Officer Maureen Tamuno said the competition was designed to offer more than financial support by helping entrepreneurs gain visibility, business knowledge and access to potential investors.
“The level of training and mentorship they receive from professionals during the programme goes far beyond the competition itself. It gives them ideas on visibility, expansion and sustainability,” Tamuno said.
She explained that AICL maintains relationships with previous participants through mentors and partner organisations that continue to provide guidance after the competition.
“We have mechanisms in place to follow up with them. That is why previous winners return every year to share their success stories and inspire new participants,” she added.
Tamuno said this year’s winners would also have the opportunity to present their businesses before investors and business leaders at the upcoming Abuja Business and Investment Expo 3.0, scheduled for 5 to 7 August.
She encouraged private organisations, philanthropists and development partners to collaborate with AICL and AEA to expand support for youth-led businesses, noting that access to finance and infrastructure remain key challenges for entrepreneurs.
According to Tamuno, renewable energy solutions are increasingly helping small businesses reduce operating costs caused by unreliable electricity supply.
“We now have renewable energy solutions that are helping businesses reduce dependence on the national grid. One of our markets operates entirely on green energy, and we encourage entrepreneurs to take advantage of these opportunities,” she said.
She also urged Nigerians to remain confident in the country’s economic potential, stressing that sustainable growth requires cooperation between government, investors and citizens.
“No country started instantly and everything started working. Countries grow and evolve. Nigeria is evolving, we are advancing,” Tamuno said.
Acting Managing Director of the Abuja Enterprise Agency, Chudi Ugwuada-Ezirigwe, described young entrepreneurs as critical to Nigeria’s future, saying the competition was created to support businesses capable of generating jobs and addressing social challenges.
He said ICT, creative industries and agribusiness were selected because of their growth potential, adding that future editions would expand to include more sectors.
“The journey of a million miles begins with one step. We started with these sectors, but we intend to expand as more innovative business ideas emerge,” Ugwuada-Ezirigwe said.
Chairman of the judging panel and economist Paul Alaje said the selection process considered innovation, sustainability, financial viability, scalability and employment potential.
He said empowering entrepreneurs was essential to tackling unemployment, poverty and inflation.
“Our government will formulate policies, but citizens must apply those policies to create value. These businesses will generate employment, reduce imports, promote exports and contribute to economic growth,” Alaje said.
Among the recognised entrepreneurs was Plastic Abdullahi Suleiman, winner of the creative category, whose business transforms plastic waste and sand into durable interlocking paving stones without cement.
Suleiman said the idea was developed in response to Nigeria’s plastic pollution challenge and infrastructure needs.
“We are turning plastic waste into stronger, more affordable interlocks. We believe this innovation can help solve both environmental pollution and road construction challenges,” he said.
ICT category winner Ridwanllah Adeleke, founder and Chief Executive Officer of Cyber Vigil, said the award validated his company’s cybersecurity solutions aimed at identifying weaknesses in digital systems.
He called for stronger partnerships between government agencies and local cybersecurity firms to protect critical infrastructure from cyber threats.
Creative category first runner-up Pamela Azeminor said she planned to use the prize money to purchase equipment for her fashion training academy, noting that funding remains one of the biggest barriers for young entrepreneurs.
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The Abuja Young Entrepreneurs’ Hunt is part of AICL’s broader effort to strengthen the startup ecosystem in the Federal Capital Territory and promote entrepreneurship as a driver of innovation, job creation and inclusive economic growth.
In line with Economic and Community Development being the theme of the month of October for Rotary International, foremost Rotary club in Rotary International District 9111, Rotary Club of Ikeja has teamed up with Field of Skills and Dreams Academy to empower four youths.
The beneficiaries who will be undergoing a three-month training are, Olumide Akingbohungbe, Yemisi Olubode, Ayodeji Olanrewaju and Daniel Oyebami.
They will be trained in different skills, namely, Fashion Designing, Solar panel installation, Hospitality and Catering as well as Heating, Ventilation, Air-conditioning and Refrigeration.
Speaking during the free vocational, training and empowerment presentation of the beneficiaries which took place during the meeting of the club at Lagos Airport Hotel, Ikeja, the Chair, Service Projects, Rotarian Gbenga Fetuga said the club was very meticulous in the selection of the vocational skills.
Rotarian Fetuga added that: ‘’Being the foremost club in the District, we are expected to live up to it in all areas and we are always detailed in the selection of both the beneficiaries as well as the vocational skills.
‘’The skills we chose are very strong skills for our trainees. Nearly every home, office, hotel and shop in Lagos runs ACs and fridges. So, qualified technicians are always in demand, and graduates can start their own repair businesses.’’
The club’s President, Rotarian Kayode Osokomaiya stressed that the club was committed to making a difference in the lives of the beneficiaries of the empowerment exercise.
Nigeria investment in youth and local industries is vital to job creation, says FG, urging public-private partnerships and regional industrialisation
The Federal Government has called for increased investment in youth development, small and medium-sized enterprises, technology and local industries to create jobs and strengthen Nigeria’s economic competitiveness.
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The Minister of State for Foreign Affairs, Ambassador Sola Enikanolaiye, made the call during a panel discussion titled “From Trade to Value Chains: Building Regional Industries to Compete Globally” at the 32nd Nigerian Economic Summit, held under the sub-theme, “Invest Nigeria”.
In a statement issued on Tuesday and signed by his Special Assistant on Digital Media and Public Diplomacy, Raphael Oni, Enikanolaiye said Nigeria needed stronger partnerships between the public and private sectors to mobilise the capital required for sustainable economic growth.
He argued that the country must move beyond trading raw materials towards building industries that process local resources into finished products for domestic consumption and export.
According to the minister, investment from both domestic businesses and foreign sources would be necessary to expand industrial capacity, create employment opportunities and improve living standards.
“In advancing our country, we don’t talk enough to one another in terms of constructive conversation and dialogue. We believe that partnership which allows government to engage deeper and stronger with the private sector is critical. Government alone cannot alone raise the resources needed for shared prosperity,” he said.
Enikanolaiye added that domestic capital mobilisation was as important as attracting foreign investment.
He identified Nigeria’s youthful population as a major asset that could accelerate industrialisation if supported by investments in education, skills development, innovation and entrepreneurship.
“Our youth population is very critical – a vibrant population. We need to invest more in human capital, focusing on Small and Medium Scale Enterprises, technology, innovation and creativity. By so doing, we will be able to generate more employment for the youth and also raise more wealth and income,” he said.
On foreign policy, the minister said the administration had reordered its four-point 4D doctrine to place the welfare and prosperity of Nigerians at the centre of the country’s international engagements.
The framework focuses on Demography, Development, Democracy and Diaspora.
Enikanolaiye said democratic governance should produce tangible economic benefits for citizens rather than remain an end in itself.
“Democracy is good, but it is a means to an end, not an end in itself. Democracy must deliver on core priorities of economic development and economic prosperity to our people,” he said.
The minister also emphasised the importance of macroeconomic stability and reliable economic data in helping businesses assess investment opportunities and make long-term plans.
He said Nigeria had recorded improvements in macroeconomic stability and that inflation was coming down, although he did not provide supporting figures in the statement.
Enikanolaiye further called for reforms to make the Ministry of Foreign Affairs more responsive to Nigerians and strengthen its engagement with businesses.
He said cooperation between the government and private sector, alongside partnerships with neighbouring countries and other international markets, could help Nigeria expand its industrial base and improve its access to regional and global markets.
Also speaking at the summit, the President of the Economic Community of West African States Commission, General Birame Diop, called for greater emphasis on industrialisation to create jobs and strengthen regional trade.
His remarks were delivered by the ECOWAS Commissioner for Economic Affairs and Agriculture, Dehpue Yenpea Zuo.
Diop argued that trade agreements alone could not deliver widespread employment and economic growth without industries capable of processing raw materials and producing goods.
“Trade agreements do not create jobs; industries do,” he said.
He noted that intra-African trade accounted for about 15 per cent of the continent’s total trade, compared with more than 60 per cent in Europe and Asia.
He attributed the gap partly to the limited scale of regional industries.
According to Diop, the regional market, with more than 300 million consumers, provides an opportunity for West African manufacturers to expand production before competing across the continent under the African Continental Free Trade Area.
He outlined four priorities for advancing regional industrialisation: implementing existing trade agreements, including commitments on border management; developing value chains in sectors where West Africa has a competitive advantage; improving access to finance for businesses and producers; and measuring progress through jobs created and goods processed within the region.
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Diop said converting trade commitments into productive industries would be essential to expanding employment, increasing regional economic activity and strengthening West Africa’s competitiveness in global markets.
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