20 entrepreneur gets N15m in Zakat foundation competition
The Fourth Entrepreneurship Development Project otherwise tagged Business Plan Competition (BPC), was held at Westwood Hotel, Ikoyi.
The foundation rewarded 10 winners with the sum of N1 million each and N250,000 for 10 runners-up. They emerged the best among the 956 entrepreneurs that applied for the project.
ZSF Executive Director, Prince Sulayman Olagunju, said the competitions were aimed at supporting business ideas and existing business that are worthy of financial assistance for growth and prosperity. The applicants, he said, increased from 606 recorded last year.
According to him, the winners were selected by a team of experts in the field of entrepreneurship and empowerment schemes. He advised the winners to maximise it well.
“The grant given to you is neither a national cake nor a free fund. It is hard earned money; it is also the fruits of the sweat of our generous donors who have entrusted their charities to us for onward distribution to rightful beneficiaries.
“As they did this, they expect in return an effective and efficient utilisation of their funds and creation of more wealth for the benefit of all and sundry.
“Most of the past winners have done very well and that is why we have been able to continue this noble project. Please do not break this platform of opportunities for the upcoming generations. It is gratifying to note that many of the previous winners are now donating to the foundation in cash and kind,” Olagunju said.
ZSF Advisory Board Chairman Alhaji Umar Abdul Mutallab, who chaired the event, praised the foundation for the noble project and urged all well-meaning individuals to support the project. Represented by Jaiz Charity and Development Foundation Acting Director-General, Imam Abdullah Shuaib, Abdul Mutallab hailed the winners and appealed to them to make good use of the funds given to them.
The funds, he said, were generated from honest and hardworking Nigerians who believe and identify with the foundation’s aims and objectives. “You must justify this award with utmost dedication, commitments and hard work to grow your business enterprise to a laudable level. “This is the only way the foundation can achieve it entrepreneurship objective, your success transcends to theirs. Do ensure you render a proper account of your business as at when due to your mentors and the organization,” he said.