Over 1,000 Young Entrepreneurs Receive N24 Million Business Grants at YMR 2025
- The 2025 Young Ministers Retreat and Premium Trust Bank distributed N24 million in grants to over 1,000 young entrepreneurs
- Individual grants ranged between N500,000 and N2 million following a structured and transparent selection process
- Organisers plan to expand the programme as part of efforts to strengthen youth entrepreneurship and MSMEs in Nigeria
Oluwatobi Odeyinka is a business editor at Legit.ng, covering energy, the money market, technology and macroeconomic trends in Nigeria.
The 2025 Young Ministers Retreat (YMR) of the Redeemed Christian Church of God (RCCG), in partnership with Premium Trust Bank, has provided N24 million in business grants to more than 1,000 young entrepreneurs across Nigeria as part of efforts to boost youth-led enterprises and small businesses.
According to the organisers, the initiative is aimed at supporting micro, small and medium-sized enterprises (MSMEs) by helping young business owners expand their operations, improve productivity and build sustainable sources of income.
Source: Getty Images
Grants range from N500,000 to N2 million
The grants, which ranged from N500,000 to N2 million, were awarded through a multi-stage selection process. Applicants submitted business proposals that were assessed by a panel of experts, after which prequalified candidates took part in a raffle draw to ensure transparency in the final selection of beneficiaries.
Speaking at the event, the Executive Director of Digital and E-Business at Premium Trust Bank, Shina Atilola, said access to funding remains one of the biggest challenges facing young entrepreneurs in Nigeria.
She explained that the grant programme was designed to help beneficiaries stabilise their businesses, manage cash flow more effectively and position themselves for long-term growth.
Beneficiary expresses delight
One of the beneficiaries, Mary Anu, who received N2 million, described the grant as a major boost for her business. She said the funds would enable her to expand operations, purchase improved equipment and serve more customers in a competitive market.
In addition to financial support, beneficiaries also received mentorship and business advisory services from the bank. The organisers said this component was introduced to help young entrepreneurs improve areas such as pricing, customer acquisition, financial planning and daily operations.
The Young Ministers Retreat, now in its ninth year, has grown beyond its original spiritual focus into a platform for youth empowerment. The 2025 edition attracted more than 300,000 participants globally, with a strong emphasis on entrepreneurship, skills development and economic inclusion.
Source: UGC
Organisers said the partnership with Premium Trust Bank reflects a broader commitment to addressing youth unemployment and strengthening Nigeria’s MSME sector. Plans are already underway to expand the programme and reach more young entrepreneurs in future editions.
They added that empowering young people requires not only skills and education but also access to funding and structured support systems that can help businesses survive and grow.
TEF opens application for entrepreneurship grant
Legit.ng earlier reported that the Tony Elumelu Foundation has opened applications for its 2026 Entrepreneurship Programme, offering $5,000 in seed funding to grantees.
Selected participants will also receive essential training, mentorship, and access to a vast entrepreneurial network across Africa.
Eligible applicants must be African citizens aged 18+, with early-stage businesses across diverse sectors.
Source: Legit.ng
