The Prince Omoha Foundation has awarded non-refundable seed capital grants to more than 100 young entrepreneurs across Nigeria as part of its annual corporate social responsibility initiative. The 2024 edition of the program aims to boost economic development and alleviate poverty by empowering aspiring entrepreneurs.
Selected from over 3,500 applications, 102 beneficiaries representing all 36 states and the Federal Capital Territory received N250,000 each to support their start-ups and small businesses. The selection criteria included innovation, performance, and the potential to create jobs and drive economic growth.
As part of the program, recipients participated in online business training, mentorship, and coaching to help them succeed in their ventures. Prince Omoha J. Nduka, the President and Founder of the Prince Omoha Foundation, emphasized the importance of resilience and focus on the entrepreneurial journey. “The future of our nation is in our hands. What we do as entrepreneurs will lift Nigeria and Africa out of poverty,” he said, praising the 54% female representation among the 2024 grant recipients.
He also called on Nigerian leaders to create a conducive environment for young entrepreneurs, stating, “These young, intelligent, and hardworking Nigerians are ready to go. Their success is a win for all of us across the continent.”
The event was concluded by Mrs. Chioma Ugwu, the Executive Director of the Foundation, who highlighted the scale of the initiative. “Today, we are paying out a record N25.5 million directly to Nigerian entrepreneurs. This impact is driven by our commitment to corporate social responsibility through Prince Luxury Group,” she said.
Established in 2018 by Prince Omoha J. Nduka, the Prince Omoha Foundation has been dedicated to empowering young entrepreneurs, supporting social change, and contributing over N100 million in charitable funds across Nigeria and Africa.
