In a concerted effort to tackle youth unemployment and enhance entrepreneurial capacity in Nigeria, Octoville Development Company, in partnership with the British Council and King’s Trust International, has launched a transformative initiative to empower 80 young entrepreneurs in Abuja with sustainable business skills.
At the official launch of the programme, Chikodi Onyemerala, Director of Programmes at the British Council Nigeria, underscored the urgent need to equip young people with practical and transferable skills. “Youth unemployment remains a pressing challenge,” Onyemerala said. “If entrepreneurship is not their thing, the skills they will get here will make them more employable, core skills like confidence, communication, and teamwork, which every organisation is actually struggling with at the moment.”
The programme will provide participants with training, mentorship, internship placements, and access to grants to support their entrepreneurial journey. Organisers also plan to conduct an impact assessment spanning three to five years to measure outcomes and document success stories.
According to Oluwaseun Olorunmaye, Chief Operating Officer at Octoville, the initiative is designed to build the capacity of young entrepreneurs in core areas such as business management, financial assessment, and investment readiness.
“By the eighth week, we’ll be hosting a pitch event where eight standout businesses will receive N300,000 each in seed grants,” Olorunmaye revealed. “This support helps participants jumpstart operations, whether it’s acquiring raw materials, resuming stalled businesses, or formalizing operations.”
Additionally, five high-potential startups will be selected for incubation, where they’ll receive office space, mentorship, and business development support to scale their ventures.
“Our goal is to help participants move from just having an idea to launching a functional business. For others, we want to see them transition from nano to micro enterprises,” Olorunmaye added.
Nelson Okwonna, CEO of Octoville, expressed concern over the inability of Nigeria’s education system, especially at the secondary and tertiary levels, to equip young people with practical, industry-relevant skills.
“Training ecosystems, including schools and universities, have failed to instill essential core competencies. This programme seeks to fill that void,” Okwonna noted.
He announced that Octoville is planning a larger national initiative, the Emerging Managers Business Analyst Program (EMBAP), which will train 1,000 young Nigerians in partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the Federal Ministry of Youth. Representatives from both institutions were present at the event, signaling strong institutional backing.
A Growing Track Record of Impact
This is not Octoville’s first foray into youth enterprise development. In December 2024, the firm partnered with the British Council and King’s Trust International to support 70 youth-led businesses with training and mentorship across Nigeria.
With this new Abuja edition, the partnership is expanding its reach and doubling down on its mission to build a generation of confident, competent, and investment-ready young entrepreneurs who will shape Africa’s economic future.
Interested participants and stakeholders can follow Octoville and the British Council for updates and opportunities arising from the program.
