THE Zakat and Sadaqah Foundation (ZSF) has been extending grants and trainings worth hundreds of millions of naira to thousands of Nigerian youths to start and nurture businesses as a way of discouraging them from seeking greener pastures outside the country.
The executive director of the ZSF, Prince Sulayman Olagunju, disclosed this in Lagos at the seventh edition of the forum’s Business Plan Competition (BPC) tagged Entrepreneurship Development Project.
Twenty-eight entrepreneurs and upcoming business starters went home with about N12 million for emerging winners and runners-up in two categories.
According to Olagunju, the Entrepreneurship Development Project initiative was launched seven years ago to cater for the teeming youths with business ideas.
He said: “We want them to believe that they can make it in this country with proper orientation and funding of their business ideas. We thank Allah that we are achieving our goals because now we have quite a number of youths who would have ordinarily run out of the country looking for greener pastures. Most of them are now staying in the country.
“They have assisted in coming out with products and goods that if those products were not produced locally, people would have relied on imported ones and we all know the exchange rate these days. And instead of running away, they are staying and managing their businesses here in Nigeria. They have equally become employers of labour.”
The chairman on the occasion, Hajiya Thaibat Adeniran, urged Nigerians to find valuable things to do with their knowledge and resources rather than seeking greener pastures in other countries.
Adeniran, who is the Managing Director of Hilal Takaful Nigeria Limited, said many people engage in menial jobs abroad to eke out a living.
“Going abroad will never help because people doing so still suffer. Many cannot do things the way they do here over there. Why don’t you use your knowledge and resources to make yourself comfortable in your country? There is an opportunity for exportation of goods. Why don’t we tap into that and earn foreign currencies instead of running abroad to do menial jobs?” she said.
A member of the screening committee, Professor Khadijat Idowu from the Accounting Department of the Lagos State University (LASU) commended the foundation for the initiative.
Professor Idowu observed that there were talented people among those that applied for the grant.
According to her, many of them have much to offer to grow the economy.
“She said: “There are so many people that have great business ideas that could grow our economy. We have so many indigenous products that we can export instead of importing all the time.”
“What is required is to fund these business ideas and make the atmosphere conducive for business to thrive. We have heard government talking about ease of doing business but the masses are not feeling the impact. The government should walk the talk.”
The don cautioned the youth against relocating abroad, saying not all that relocated make it but shame won’t let them return to the country.
A member of the foundation’s Advisory Board, Mr Shuaib Idris, described brain drain as global challenge but said the initiative of the ZSF could help put a stop to the situation in Nigeria.
He urged wealthy Nigerians to support youths through the foundation.
Idris, who is a financial and management consultant, also called on youths to get cracking and properly utilise their talents.
“Our youths should get cracking. They should make do with whatever skills they have. No matter how little your skill is, don’t underestimate it. Think outside the box so that you will have the opportunity to earn a living and be a productive citizen,” he said.
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