The Ishk Tolaram Foundation has disbursed business grants worth N5 million to 18 young Nigerian entrepreneurs under its Alumni Business Grant initiative. The award ceremony took place recently in Lagos and marked another step in the Foundation’s efforts to promote youth entrepreneurship and practical skill development across the country.
Speaking at the event, the Programme Director of the Foundation, Mr. Oje Ivagba, said the grant scheme is specifically designed for alumni of the Foundation’s vocational training programme who have already started nano businesses and need financial support to scale up their operations. He explained that the funding will help them acquire modern tools and equipment that are critical to business growth but often too expensive for many of the young business owners.
“We have trained over 1,300 young Nigerians since we launched the vocational programme in 2021. However, we noticed that many of them, even after getting certified, struggle to expand their businesses because they cannot afford technical tools and equipment,” Ivagba stated.
He said the Foundation introduced the grant to deepen its commitment to the success of its trainees and provide a support system for them to grow. “This grant is our way of standing by them and providing real help, especially since most of them find it very difficult to access loans or funding from banks,” he added.
Each of the 18 selected entrepreneurs received grants of up to N300,000 tailored to their business needs. The programme covered a wide range of trades, including tailoring, plumbing, carpentry, masonry, and more. Ivagba also announced that the Foundation is exploring partnerships with financial institutions and other organisations to expand the programme and reach more youth across the country.
Ms. Abiola Oyeneye, the Programme Manager of the Foundation, explained the selection process and the level of interest shown by former trainees. According to her, the process was deliberately kept simple to encourage wide participation regardless of educational background or literacy level.
“We received several applications and used a three-stage selection process, which included an application phase, a panel review by four judges, and a final in-person interview. This helped us understand not just their business plans, but their commitment and passion,” she said.
Oyeneye noted that more than 60 percent of the Foundation’s alumni have already started or expanded their businesses, but many of them still face challenges because they rely on borrowed or rented tools to work.
“With this support, they can now own their own equipment, accept more jobs, improve their service delivery, and increase their income. This will also have a ripple effect on their families and communities,” she added.
During the event, Mr. Saka Abdulateef, Director of the Youth Development Department at the Lagos State Ministry of Youth and Social Development, praised the Foundation for its role in practical youth empowerment. He said the initiative was a clear example of how to empower young people not just with skills, but with the resources to turn those skills into income-generating ventures.
“This is the kind of meaningful intervention we need more of in this country. Equipping young people with skills is great, but helping them grow those skills into businesses is where the real impact lies,” Abdulateef stated.
He encouraged the beneficiaries to make good use of the grants to grow their businesses, employ others, and become active contributors to Nigeria’s economy.
Also present at the event was Mr. Awoniyi Omoniyi, the South-West Zonal Director of the Industrial Training Fund (ITF). He commended the Foundation for aligning with the goals of ITF by promoting vocational and technical training. According to him, such initiatives are important for national development and economic empowerment.
“The Foundation is doing the right thing by supporting these young people even after training. The grant allows them to move from just having skills to owning businesses. This is the kind of support that produces real change,” Omoniyi said.
The Foundation stated that it trains over 500 young Nigerians each year in various technical and vocational fields, and now has an alumni network of more than 2,000 people. It plans to continue supporting at least 50 of its top-performing alumni every year, with the possibility of increasing the number through future collaborations.
