Wednesday, 12 October 2016

"It takes an average of 300 hours to develop a business plan" says @DrJoeAbah as winners get 6.75m Grant from Abuja Business Plan Competition.

Dr Joe Abah
Nine winners who emerged at the third Abuja Business Plan Competition got N6.7m reward.
Three winners each from three categories of Agriculture, Information Communication Technology (ICT) and Fashion received their cheques from the Abuja Enterprise Agency, organisers of the competition.

The first position winners from the three categories received N1m each while second place position winners in the three categories received N750, 000 each.

Third position winners got the sum N500, 000 each.

Speaking at the grand finale of the competition, the MD/CEO of the Abuja Enterprise Agency (AEA), Malam Mohammed Arabi Tukur, said that the Abuja Business Plan Competition initiative was intended to create job and wealth in the FCT, adding: "There is need for wealth creation for the teeming men and women in the FCT.

Unemployment rate in the FCT stands at 11.8 per cent. This people who have received this grant today will start up their business. Their business will create an enterprise thereby creating jobs and reducing unemployment in the country."

Elison Christopher, a first place winner in the agriculture category, said: "I have learnt how to write a business plan. Thanks to AEA and its support. I am going to invest the money into my bamboo plantation business."

Samson Ugwuokwo of Saintly Foods Nigeria Limited, who got N500, 000, said: "We have two products we have invented. With this grant, we are going to increase production and flood the market with the products."

The first place winner in the ICT category, Mr Isa Daniel, the founder of Bluebird, said that he would use the grant to grow his business as well.

"We are transforming the retail industry and how we do that is by allowing shop owners to manage their shops on their mobile phones," he said.

"With this grant, we hope to add more staff as we expand to Port Harcourt."

Jennifer Okolo, Creative Director of Cantik Curves and first position winner in the fashion category who got N1m, said: "They taught us how to write a business plan and then asked us to write it. Afterwards, we went through entrepreneurship training for four weeks. We were 800 in the competition and then 102 and then 21 and then the last 9. The competition was intense."

The keynote speaker, Malam Ibrahim Buba, the CEO of Newage Media, who spoke on the characteristics of an entrepreneur, described entrepreneur as somebody who creates ideas and brings about phenomenal changes.

The Director-General, Bureau of Public Service Reforms (BPSR), Dr Joe Abah, said it takes an average of 300 hours to develop a business plan and about 37 days, working eight hours daily, to develop a business plan.

However, Abah said: "Many entrepreneurs tend to avoid writing business plans. By promoting business plan competition, I believe that AEA is helping to address what I consider a national problem in Nigeria."

The special guest of honour and the Permanent Secretary of the Federal Capital Territory Administration, Dr Babatope Ajakaiye, represented by the director economic planning, Alhaji Suleiman Mohammed Abdulhammed, advised young people to embrace business mentorship programmes. (Daily Trust)

No comments:

Post a Comment