A Digital Empowerment Grant initiated by the Jerry Eze Foundation to support young entrepreneurs in agriculture, manufacturing and technology has expanded from an initial $300,000 to $525,000 following additional funding commitments from private individuals and corporate organisations.
The grant scheme, which was introduced earlier this month, is designed to support young people running existing businesses or seeking to start new ventures in key economic sectors.
Initially targeting 100 beneficiaries, each recipient was expected to receive a minimum of $3,000 to scale operations or launch viable enterprises.
However, the funding pool was increased after fresh commitments were secured to support more beneficiaries.
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Contributions covering 40 additional participants from Tony Cole and Tony Elumelu, added $120,000 to the scheme, while further backing from Nuvion Bank and Flutterwave provided funding for 35 more beneficiaries, amounting to $105,000. These additions brought the total value of the grant to $525,000.
Beyond financial support, the programme includes capacity-building components aimed at improving business sustainability.
Beneficiaries will undergo a 12-week business education programme facilitated by the Tony Elumelu Foundation, focusing on entrepreneurship, financial management and business growth.
Participants in the technology category will also receive technical support and mentorship from Flutterwave.
Organisers of the programme have said details regarding the application process, eligibility criteria and timelines will be announced in due course.
They also assured that the selection and disbursement process will be handled independently by a reputable international consulting firm to ensure transparency and accountability.
The expanded grant scheme forms part of broader efforts to promote youth entrepreneurship, stimulate innovation and contribute to sustainable economic development across Nigeria and Africa.
