Full Breakdown
Empowering Entrepreneurs: Initiatives in Nigeria
10/26/2025, 12:11:12 PM
Vanguard Fellowship Opens Applications for Cohort 2
The Mary Ojulari Foundation has announced the opening of applications for the Vanguard Fellowship Cohort 2, aimed at nurturing innovative entrepreneurs across Nigeria. Following the success of its inaugural cohort, which supported 25 entrepreneurs with $125,000 in funding, the Foundation seeks to empower changemakers through mentorship and capacity building. Applications are open from September 24 to October 26, 2025, with shortlisted candidates participating in an Ignite Bootcamp from November 10-21, 2025, culminating in a Pitch Day where fellows will present their business ideas to potential investors. Mary Ojulari, the Foundation's founder, emphasized the importance of bridging the gap between innovation and opportunity, stating, “The Vanguard Fellowship exists to nurture those ideas and the exceptional individuals behind them.”
NYSC-BOI Loan Scheme for Young Entrepreneurs
In a parallel initiative, the National Youth Service Corps (NYSC) has partnered with the Bank of Industry (BOI) to launch a loan scheme for serving corps members in Nigeria. This program aims to provide affordable financing for young entrepreneurs looking to start or expand their businesses. Eligibility requires applicants to have participated in the Skills Acquisition and Entrepreneurship Development (SAED) training and to submit a comprehensive business plan. The loan structure includes a three-month grace period before repayment begins, with the NYSC Discharge Certificate serving as collateral. This initiative is designed to foster financial independence among young graduates while contributing to Nigeria's economic growth.
Celebrations Launches Project Advance for Women Entrepreneurs
Celebrations, a brand focused on meaningful gifting, has introduced Project Advance, a sustainability initiative aimed at empowering women entrepreneurs. The project aligns with the United Nations Sustainable Development Goal 8, promoting decent work and economic growth. Since its inception, Project Advance has supported over 50 female entrepreneurs and helped scale more than 70 small businesses, resulting in the creation of over 100 new jobs. Dele Balogun, CEO of Celebrations, stated, “We remain committed to creating meaningful pathways for women to thrive,” highlighting the initiative's focus on long-term success and community impact.
Criticism & Opposition
While these initiatives aim to empower entrepreneurs, some critics argue that access to funding and resources remains limited for many aspiring business owners, particularly in rural areas. Concerns have been raised about the effectiveness of mentorship programs and whether they adequately address the unique challenges faced by women and young entrepreneurs in Nigeria.
Official Statements & Responses
Mary Ojulari remarked on the importance of creating a ripple effect through empowerment, stating, “When one is lifted, others should rise too.” Similarly, Dele Balogun emphasized the transformative potential of Project Advance, asserting that the initiative is just the beginning of a broader movement to uplift women in business.
Verbatim Quotes
- “There are so many ideas that fade, not because they lack potential, but because they lack access to capital, mentorship, and the right mindset,” — Mary Ojulari, Founder, Mary Ojulari Foundation
- “This is just the beginning,” — Dele Balogun, CEO, Celebrations
These initiatives reflect a growing commitment in Nigeria to support entrepreneurship, particularly among women and young people, as a means to drive economic growth and community development.
