Youth and Sports Minister Sunday Dare called for investing in Nigerian youth for the growth of the country’s economy.
Dare, who was represented by his special assistant on ICT and innovations, Ms Kemi Areola, made this known during the unveiling of a commercial reality show, “The Next Titan Season 8”, in Lagos last week. .
He described lack of access to finance, demand for collateral and double-digit interest rates as obstacles to the growth of young entrepreneurs; hence the rationale for the Nigerian Youth Investment Fund (NYIF) of the Ministry of Youth and Sports.
The minister therefore described the reality show ‘The Next Titan’ as a real platform to support young Nigerians with big business ideas to help them become employers of labor.
âIt’s important that we invest in Nigerian youth and in an entrepreneurial reality TV show, ‘The Next Titan’ like this, is a real platform to support young people who have a vision to start something.
âOne of the biggest challenges young people face is accessing finance.
âWith the Nigerian Youths Investment Fund, you don’t have the bottlenecks of guarantees, double-digit interest.
âTo come to this Titan show, it is established that they have a business idea that they want to develop and we are ready to support them.
âLast year when we realized there was a show like ‘The Next Titan’, we didn’t hesitate to join in sponsoring this great vision.
âThe Next Titan is a breath of fresh air because the more you are able to empower young people, the more you are able to have a better economy,â he said.
The host of the reality TV show ‘The Next Titan’, Mr. Mide Kunle-Akinlaja, who said two of the show’s previous winners won the Forbes Award for Entrepreneurs Under 30 in Africa in 2019 and 2020, noted that Season 8 would have an impact as all contestants will have the opportunity to be the winners of the audition stages.
Kunle-Akinlaja, who announced the start of the audition by next week, explained that a minimum of 500 and a maximum of 1,000 audition participants will be eligible for funding of up to N3M with permission of the Federal Ministry of Youth and Sports Development.
He further explained that those who cannot compete for the N15M Cash Grand Prize will have the opportunity to qualify for funding.
While explaining the rationale for the program, the producer said the 10-week competition is poised to ignite entrepreneurship and show the potential for entrepreneurship to transform businesses. lives with just one idea that can be scaled up with a market and with the Nigerian people.
He added that shows scouts for talented young people with a sense of entrepreneurship, preparing them through rigorous assignments, a board process, mentorship, and possibly funding an idea for a business. Winning leading to an opportunity to create jobs for themselves and for others is indeed a great contributor to the socio-economic development of the country.