By Stanley Onyekwere
In a bid to boost the development and growth of businesses through encouraging healthy competition among young entrepreneurs in the society, the Federal Capital Territory Administration (FCTA) yesterday unveiled its 3rd Abuja Business Plan Competition (ABPC).
Peoples Daily reports that the competition, which is an initiative of the Abuja Enterprise Agency (AEA), in partnership with some private organisations, is designed to identify and empower emerging entrepreneurial in the FCT, in line with its mandate of expanding the frontiers in the area of wealth creation and enjoyment generation.
Specifically, it is tailored to provide a platform to motivate businesses and to support upcoming entrepreneurs, in accordance with the implementation of the National Enterprise Development Programme (NEDEP) initiated under the present administration of President Goodluck Jonathan.
Also, it is designed to build a network of resources for mentorship, business grouping, ideas sharing and venture financing.
Unveiling this year’s competition, Minister of State for FCT, Oloye Olajumoke Akinjide, said the competition presents an exciting opportunity for young people in the FCT to develop and present business plans for new and emerging ventures.
She added that the key objective of the competition is to generate jobs by encouraging and supporting aspiring young entrepreneurs, especially those that will lead to job creation.
Akinjide, who disclosed that the implementation committee panel of the 3rd ABPC will inaugurate an ‘Assessment Panel’ to undertake the selection of winning submissions, said that apart from prizes to be won such business plans will receive the assistance and possible sponsorship of corporate organisations.
Represented by her Senior Special Assistant (SSA) on Special Duties, Mrs. Jumai Kwanashie, the minister notes that “the competition will no doubt provide aspiring youth, the platform to show case their business acumen, skills and aspirations to business leaders, investors and captain of industries in Nigeria.”
“Let me reiterate that the competition remains open to all potential and existing businesses within and around the Federal Capital Territory.”
She therefore assured that the FCTA will continue to support the hosting of this competition and indeed all other programmes of Abuja Enterprise Agency as part of our resolve to provide better life for residents of the territory.
On her part, AEA Managing Director, Aisha Abubakar, reiterated that the objective of the competition is to initiate an arena to enable large businesses, financial institutions and other corporate entities and support upcoming entrepreneurs.
According to her, only 20 successful submissions from interested entrepreneurs will be shortlisted for the competition proper, out which only three will emerge as the final winners who will go home with N1 million cash prizes.
She added that in addition to the prizes to be won, winners will receive technical assistance and other benefits, which include access to N10 million grants by corporate organisations, angel investors and other stakeholders.
