Lagos SME sector gets boost with ₦200m grants to young entrepreneurs

The growth trajectory of Lagos’ small and medium enterprises got a major boost as OmoeKOH, a Lagos-based community of young builders, distributed ₦200 million in grants, business support packages, and tools to young entrepreneurs and innovators.

The organization’s empowerment for the entrepreneurs was at its inaugural Wealth and Impact Summit held recently in Lagos which attracted over 5,000 youths, traders, tech enthusiasts, and business owners.

It was convened by Imran Oladimeji Hamzat of OmoeKOH, a movement launched just three weeks ago to recognize and empower young creatives, founders, and employees who have been building from “their little corners”.

Obafemi Hamzat, Deputy Governor of Lagos State, represented by Akinyemi Bankole Ajigbotafe, Commissioner for Wealth Creation and Employment said “This summit is designed to provide a platform where ideas meet opportunity, mentorship, and capital. It aligns with our administration’s determination to create an enabling environment where enterprises can thrive,” the Commissioner stated.

A panel featuring Ayoolanrewaju Kuyebi, CEO/GMD GMH Luxury; Evelyn Edumoh, GM Arkland Properties; Tolulope Abiodun, Head of Business, Pesa Business; Ojuromi Oladele Teslim, Acting Dean, LASU School of Agriculture; and Rotimi Williams, Principal, Asher Blackhorn, tutored participants on business and management.

From over 3,000 registrations, 25 young business owners pitched, with 3 winners receiving cash grants: David Ogunbanjo, Blanet Africa – ₦5m; Adeleke-Lawal, Ummiulkhayr Ummis Nature – ₦4m; Favour Adeleke, Qiqi Farms – ₦3m, while others were given the sum of ₦ 500,000 each.

Beyond cash, OmoeKOH distributed laptops to graphic designers and developers, mobile phones for content creators, and offered free CAC and SMEDAN registration for over 1,000 businesses. Partners, including Jobberman, Providus Bank, and Lagos State Health Management Authority, provided career, banking, and health insurance support on-site.

Speaking on the initiative, Alhaji Imran Oladimeji Hamzat, Convener of OmoeKOH, said “The initiative is designed to create opportunities for young Nigerians by supporting innovation, enterprise development, and the adoption of technology. OmoeKOH is a brand that we have just started less than a month ago. It is created to help the younger generation,” he added.

According to him, “We are trying to empower the younger generation. We understand that the younger generation is finding it difficult to find people to hear them out, or notice them and the ideas they have been silently building. We have tried to create a brand where we can recognize the young generations, the new creatives, those who have been working tirelessly, those who have been either employers or employees, to empower them either financially or with items that can support their business.”

The Deputy Director-General of OmoeKOH, Henry Babatunde Ige, said the initiative is “designed to create opportunities by supporting innovation and technology adoption,” describing the convener as a “silent philanthropist with an eye on business emperors of the future.”