In a significant move to strengthen youth entrepreneurship, the 2025 Young Ministers Retreat (YMR), in collaboration with Premium Trust Bank, distributed N24 million in business grants to over 1,000 young Nigerian entrepreneurs. The initiative, designed to support small businesses and MSMEs, provides critical funding to scale operations, enhance productivity, and create sustainable livelihoods.
The grants, ranging from N500,000 to N2 million, were awarded based on a rigorous selection process. Entrepreneurs submitted detailed business plans, which were carefully reviewed by a panel of experts. Prequalified candidates then participated in a raffle draw to ensure transparency and fairness in the allocation of funds.
Speaking at the event, Shina Atilola, Executive Director of Digital and E-Business at Premium Trust Bank, emphasized the importance of financial support in building resilient businesses. “Access to capital is one of the biggest hurdles for young entrepreneurs. This initiative is designed to give them a strong foundation to grow, manage cash flow effectively, and scale their enterprises sustainably,” she said.
Among the beneficiaries, Mary Anu, who received N2 million, shared how the grant would impact her business. “This support is life-changing. It allows me to expand my operations, invest in better equipment, and reach more customers. For young entrepreneurs like me, this kind of intervention is exactly what we need to grow and compete in today’s market,” she said.
The program also included mentorship and business advisory support from the bank, helping recipients understand pricing strategies, customer acquisition, financial management, and operational planning. These additional resources ensure that the grants translate into long-term business growth, not just immediate financial relief.
Now in its ninth year, the YMR has evolved from a primarily spiritual gathering into a platform for economic empowerment, impacting thousands of young Nigerians. The 2025 edition welcomed over 300,000 participants globally, with a clear focus on equipping youth with the tools, knowledge, and capital needed to thrive as entrepreneurs.
By linking financial support with practical business mentorship, the initiative aligns with broader efforts to promote youth employment, boost MSMEs, and strengthen the Nigerian economy. Organizers plan to continue scaling the program, aiming to reach even more young entrepreneurs in subsequent editions.
This partnership underscores the growing recognition that youth empowerment is not only about skills and education but also about access to funding and structured business support, which are critical for Nigeria’s next generation of business leaders.
