Lagos raises youth enterprise grants to N30m for 10 winners
Lagos State will provide N30m in grants to 10 young entrepreneurs through the 2026 Amplifier Business Clinic, the Ministry of Youth and Social Development said. The programme combines funding with training, mentoring and links to financial institutions, while unsuccessful applicants will continue receiving support from the ministry, officials said.
The Lagos State Government will award N30m in grants to 10 young entrepreneurs under the 2026 Amplifier Business Clinic, the state Ministry of Youth and Social Development said in a statement made available to PUNCH Online on Saturday. The ministry’s Permanent Secretary, Toyin Oke-Osanyintolu, announced the grant during the programme’s Pitch Day, organised with Pelse Consulting. She said the initiative was intended to help young people develop their skills and hobbies into sustainable businesses that could contribute to Lagos’s economy.
Oke-Osanyintolu said the grant was an increase from the N20m given to eight beneficiaries in the previous edition. She added that financial support would be combined with compulsory mentoring, with professionals guiding beneficiaries on how to use the funds to expand their businesses. Participants who do not receive grants will still have access to support from the ministry, she said.
The programme also linked participants with financial institutions and government agencies. Pelse Consulting said Zenith Bank was invited to assist participants without business accounts, while the Lagos State Employment Trust Fund provided information on available financing opportunities. Pelse Consulting Managing Partner Boboye Adeniji Oluwafemi said about 1,300 applications were received for the latest edition.
Following online assessments, interviews and other screening, 568 applicants were selected; 250 advanced to virtual training before further assessments, business cases and mock pitches determined those who reached physical training and the final pitching exercise. Training covered financial modelling, cash-flow management, pricing, customer service, risk management, business planning, record keeping, branding, social media management, artificial intelligence and team leadership. Boboye said the programme focused on business management rather than teaching new skills.
The represented businesses included leather bags, snacks, suits, crochet, cosmetics, honey, printed T-shirts, footwear, school bags, corporate wear, palm oil, beads and dry fish. Beneficiaries will receive periodic monitoring and evaluation visits from Pelse Consulting, which said the collaboration aims to help create sustainable, profitable and scalable small businesses capable of generating employment.
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