Group to award N100m start-up grant to student entrepreneurs

Determined to curb the growing rate of unemployment across the country, a private sector group, Domak Group International is set to train and empower 100 Nigerian students with N1million grant each to enable them “secure their future.”

Kingsley Mike Azonobi, chairman/president of Domak Group International (DGI), who disposed this in Abuja, decried the surging rate of unemployment, neglect of youths in governance and consequently their involvement in criminal activities across the country despite their huge potential.

Azonobi also noted that Nigeria churns out 1.5 million graduates every year, with little hope for the future after enduring struggles in school.

“Through the records, it has been shown that the students and youth generally in Nigeria makes up about 70% of the nations’ populace. It is very disheartening to see that 70 percent of the component of a nation’s citizenry don’t have a stake or voice in the machinery governing the affairs of such nation. The effects of the surge of unemployment which increasingly rises and presently stands at 32.5 percent, and the loss of identity in the machinery of governance and administration in Nigeria that has rippled into the prevalence of crime in Nigeria. Again, from the records, it can be seen that about 92% of total crimes committed in Nigeria are caused by the youth,” he said.

To this end, he informed that the Group would hold the Domak Entreprenueuship Summit (DES), 2023 in partnership with all Nigerian students under the organisation of their respective umbrella bodies such as the National Association of Nigerian Students (NANS), among others, and over 35,000 students across Nigeria and the diaspora are expected.

“This is a Summit which will invariably equip the Nigerian student to acquire and own the requisite knowledge, training, exposure, platform, and asset that would give him the capacity to face life frontally and achieve his dream in life. 100 students will be going home with the sum of N1,000,000 each for emerging winners at the competition. At the end of the Summit, every participant would have been trained, empowered and mentored to a capacity where he can be valued asset to the himself and the nation at large,” he explained.

Also speaking, the Executive Director, DOMAK Entrepreneurship, Hillary Emoh, said that DOMAK Entrepreneurship Summit seeks to address the issues bordering on self-employment, helping start-ups and small business owner, adding that the goal is to establish and develop the mindset of all the young people that are willing to shape their future with their hands.

He noted that the DOMAK Group has always been at the forefront of youth development and empowerment in Africa, and has now set out to train at least 25000 young men and women to help boost the economy Nigeria and indeed Africa.