The Nigerian National Petroleum Corporation (NNPC) foundation has selected a total of 2,659 members of the National Youth Service Corps (NYSC) across Nigeria as pre-qualified for the final phase of the Corporation Business Pitching Exercise.
Penpushing reports that a statement by the Chief Corporate Communications Officer of the Corporation, Olufemi Soneye explained that that the exercise is billed to hold from July 2nd to 10th, 2024, in Abuja, Federal Capital Territory (FCT)
‘The exercise is an integral part of the NNPC Foundation’s Financial Literacy Program for Nigerian youths that witnessed the engagement of over 284,000 corps members, who underwent rigorous training and assessments’, the statement said.
Penpushing further reports that the statement added that the Managing Director of the foundation, Mrs. Emmanuella Arukwe said the selection criteria will focus on the feasibility and sustainability of the business idea, market relevance, competitive edge and innovation, scalability, potential impact on the community and the entrepreneurial spirit of the corps members.
The Managing Director disclosed that the Financial Literacy Program is aligned with the NNPC Foundation’s mission of equipping young Nigerian graduates with necessary skills for personal and professional development
‘We have identified these 2,659 individuals who are ready to present their business ideas to a distinguished panel of assessors. By educating corps members on financial management and entrepreneurship, the program aims to empower them to become economically self-sufficient and to contribute positively to society’, she added.
Penpushing also reports that the foundation boss explained that during the pitching exercise, projects that standout will receive startup packs, business advisory services, and opportunities to scale their ventures.
The statement stated that the management of the foundation in a related development has facilitated a significant 50% reduction in the registration fee for corps members’ businesses with the Corporate Affairs Commission (CAC).
Penpushing reports that Soneye said the foundation is the Corporate Social Responsibility arm of the corporation, adding that its initiatives focus on enhancing Nigeria’s socio-economic development through targeted interventions in education, health, the environment, access to energy and youth empowerment to foster economic empowerment, promote entrepreneurship, and support sustainable development across the nation.
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