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Shell Business Loan Grant of ₦410,000- Low Interest Loan

Shell Business Grant of ₦410,000. Shell Business Loan Grant of ₦410,000- Low-Interest Loan

Shell Nigeria announced on Sunday that 117 young entrepreneurs from the Niger Delta who completed its LiveWIRE programme had been awarded an N48 million grant to help them start or expand their businesses.

In a statement, the company stated that the total number of beneficiaries of the youth enterprise development programme had increased to 7,913 since its inception in 2003.

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Shell’s Country Head of Corporate Relations, Igo Weli, spoke at the graduation ceremony and reiterated SPDC’s commitment to the development of Niger Delta youths and providing alternative livelihood opportunities through LiveWIRE and other empowerment programmes in the company’s larger social investment portfolio.

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“This is one opportunity to put you on the path to self-sufficiency and to be employers of labour, as we have seen with previous programme beneficiaries, many of whom are now employers, and several others who have taken up the opportunity to play in SPDC’s supply chain as vendors,” Weli said.

Dr. Gloria Udoh, SPDC’s Social Performance and Social Investment Manager, explained the criteria for selecting beneficiaries from across the Niger Delta. She said the beneficiaries were chosen from a pool of graduates from university or its equivalent who had credible business ideas and were able to produce a business plan.

“The 117 beneficiaries were chosen from a large pool of participants who went through entrepreneurship training, wrote business plans, and successfully pitched their business ideas,” Udoh explained.

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“It is expected that they will be able to successfully establish or expand their businesses while also benefiting from the many linkage opportunities provided by SPDC.”

According to the statement, previous beneficiaries who are now running successful businesses inspired the graduates with their own success stories.

Yolo Bakumor Smith, Chief Executive Officer of De-Rabacon Plastics, described the training as invaluable, saying, “It was instrumental in using the limited resources to improvise and implementing a plan that has led to me still making profit.”

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Mrs Belema Ogbuigwe, Executive Director of the Centre for Information and Development, inducted the new graduates into the Shell LiveWire Alumni group, allowing the young entrepreneurs to benefit from mentorship from previous recipients.

Five Shell Nigeria LiveWIRE beneficiaries have won the LiveWIRE International “Go and Trade Enterprise Linkage Award” in the last ten years, allowing them to travel to the United Kingdom, the United Arab Emirates, and Ghana for international trade visits.

LiveWIRE recipients can also compete for the Global Shell LiveWIRE Top Ten Innovators Award, which comes with significant benefits and rewards, alongside thousands of other young entrepreneurs from around the world.


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