Ben Eguzozie & Kelechi Esogwa-Amadi, in Port Harcourt
Nigeria Liquefied Natural Gas (NLNG) has given out N140 million to participants of its Vocational Innovation and Business Empowerment Scheme (VIBES) — an initiative designed to empower young Nigerians with practical business skills and resources. The initiative was undertaken with a pitch-a-thon competition held for 20 days.
The exercise served as a platform for the participants to present innovative business ideas they developed during their training.
70 youths participated in the VIBES programme for four weeks, with 35 slated for a day. The first thirty-five of them showcased their pitch-a-thon on Thursday while the second 35 showcased theirs on Friday.
Of the 70 participants, 28 were given a total grant of N140 million (N5 million each), while the remaining 42 would be given opportunity to assess an MSME loan of about a million naira.
According to Sophia Hosrfall, NLNG’s general manager, external relations and sustainable development, the PITCH-A-THON for participants of the 20 days NLNG sponsored VIBES training was not just a pitch competition, but the ignition of dreams that will shape the future of young entrepreneurs, their families and their communities.
“NLNG believes that the VIBES initiative has the potential to create opportunities, and grow the minds of participating youths. VIBES is about seeing a gap and choosing to bridge it innovatively. It is about impact, creating jobs, and building sustainable prosperity from within. Our commitment to entrepreneurship is rooted in a clear and enduring purpose: to empower the youths in our host communities and unlock the boundless potential that lies within them. Today, 75 bold entrepreneurs are stepping forward to pitch their businesses and ideas,” Horsfall said, while opening the completion at the EUI Centre on Sani Abacha Road, GRA Phase 3, Port Harcourt.
She announced that 50 outstanding participants will each receive a grant of 5 million naira to fuel their business growth, adding that by this, NLNG is placing confidence in the capacity of the beneficiaries to lead change among their peers, their communities and among youths in the larger society.
She urged those who were not selected among the final 50 beneficiaries, not to see the competition as the end, but as a beginning. “I believe you have gained valuable insights from the training and coaching programme. You also have opportunity to source for highly affordable loans through the NLNG MSME scheme to grow your business,” she added.
The general manager external relations and sustainable development reassured that NLNG has a vision to continue to improve lives sustainably, saying VIBES is a direct expression of that vision as it offers opportunity for entrepreneurial knowledge, skills, and networks; to grow local talents to become global leaders.
Horsfall said the participants were not just pitching to win, they were pitching to inspire others and to lead.
Yemi Adeyemi, NLNG’s community relations and development manager, said letters were sent to 300 persons to participate in the VIBES programme, out of which only 70 made it to the end. He advised the participants to make judicious use of the knowledge and support funds they got through the programme.
Adeyemi said the 75 remarkable entrepreneurs have shown resilience, vision, and the boldness to dream. “Whether you receive a grant today or you will go get a loan with single digit interest to sustain your business, you should be aware that you are now part of a growing movement, one that is driving real change from the grassroots up,” he added.
The facilitator of the program, Charles Nwawihe said knowledge is more valuable than money, stressing that all the participants were going home richer from the knowledge they got. He expressed hope that VIBES would redefine the business sector in the Niger Delta region in future.
