NLNG to Give N2 Million Grants to Small Business Owners in Rivers
- The Nigeria Liquified Natural Gas (NLNG) revamped its economic empowerment schemes, unveiling the expanded business support
- The company disclosed that the new scheme, now known as VIBES from YES, will provide $1,300 to small businesses and youth-owned enterprises
- The move, NLNG said, was to promote entrepreneurship in host communities in Rivers state
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
The Nigeria Liquified Natural Gas (NLNG) has relaunched the economic empowerment schemes and unveiled expanded business support and $1,300 grants each to boost small businesses and youth-owned enterprises in 110 host and pipeline communities in Rivers State.
The programme, which was formerly known as the Youth Empowerment Scheme (YES), was rebranded to boost growth and small business sustainability.
Source: Getty Images
NLNG revamps YES to VIBES scheme
The scheme now known as the Vocational, Innovation, Business, and Employment Scheme (VIBES) is designed to build on the YES achievements and ensure advancement.
The General Manager, External Relations and Sustainable Development at NLNG, Sophia Horsfall, disclosed that the scheme shows the company’s long-term plans for community transformation via entrepreneurship.
She disclosed that the company believes in entrepreneurship and not just starting a business, stating that it is about creating opportunities that lift communities to drive economic advancement and positive social change.
She disclosed that VIBES is a deliberate scheme to drive entrepreneurial knowledge and the networks required to grow entrepreneurs and change agents.
VIBES scheme to train 1,400 youths
The YES scheme has trained over 1,400 youths in vocational fields such as auto engineering, advanced welding, catering and hotel management, fashion designing and cosmetology, farm management, ICT, photography, and video production.
The Guardian reports that about 300 trained entrepreneurs currently own viable businesses, which the VIBES programme wants to close via targeted support, funding, and mentorship.
Horsfall stressed that the scheme’s relaunch was driven by the need to retool empowerment strategies.
She said:
“We believe that VIBES will foster an environment where individuals can create businesses, generate employment, and become innovators. This belief drives our commitment to nurturing local capacity and enabling individuals to become creators of jobs, wealth, and lasting impact.”
According to reports, VIBES is a modern solution which offers enhanced support via networking opportunities, grants resources, and mentorship to help participants refine and scale ideas.
NLNG exports to train beneficiaries
The NLNG spokesperson said that the company assembled experts in entrepreneurship, business development, law, technology, and innovation in several other fields for mentorship training for select business owners.
She disclosed that the scheme will provide comprehensive business training, including courses on financial management, marketing, strategic planning, law, and legal practices.
“Beneficiaries will be administered professional, practical, participative training designed to build robust technical and managerial capacity, she said.
FG to release N700 million to MSMEs
The development comes as the Federal Government of Nigeria announced the launch of the seventh edition of the Micro, Small, and Medium Enterprises (MSMEs) Award, which will be held this year.
Tola Adekunle-Johnson, Senior Special Assistant to the President on Job Creation and MSMEs, said the application portal for this year opened on March 7 and ran through April 7, 2025.
Source: Getty Images
Winners to receive N220 million worth of prizes
Speaking at a press briefing, Adekunle-Johnson said the overall winner of the 2025 MSMEs Award will receive a car, a house, a shop, and a cash prize – all worth N220 million.
Other winners – the second and third runner-ups – would receive a prize worth at least N50 million, as the case may be.
Also announcing a new twist to the annual award, Adekunle-Johnson said a new category has been created for People With Disabilities (PWDs).
According to him, the PWDs are also not limited to this category but are encouraged to apply to other categories they also deem fit.
Calling prospective MSMEs to seize the opportunity and apply, Adekunle-Johnson said applicants are expected to upload a two-minute video online via the MSMES Award portal within the stated timeframe.
FG opens N5 billion solar initiative for women
Legit.ng previously reported that the Nigerian government, via the Nigerian Consumer Credit Corporation (CREDITCORP), launched a N5 billion clean energy scheme to provide affordable access to solar home systems for Nigerian women in all 774 local government areas nationwide.
CreditCorp’s managing director, Uzoma Nwagba, disclosed that the credit would be disbursed under the Credit Access for Light and Mobility (CALM) Fund.
Nwagba said the scheme seeks to create sustainable and inclusive funding opportunities, allowing women to power their homes and small businesses with clean and reliable power.
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Source: Legit.ng
