TEF Gets N400m NEPC Grant for 50 Entrepreneurs

By Sodeinde Temidayo David

An African non-profit organization, Tony Elumelu Foundation (TEF), has received N400 million in grant funding from the Nigerian Export Promotion Council (NEPC) through the Export Expansion Facility Programme (EEFP) to accelerate the performance of TEF Alumni small and medium enterprises (SMEs) in Nigeria within the non-oil export sector.

At the signing ceremony organised between the two organisations at the Export House in Abuja, the Executive Director of NEPC, Mr Olusegun Awolowo, also revealed that the duo is set to create an army of exporters to drive non-oil exports and promote the diversification of Nigeria’s export portfolio for inclusive and sustainable economic growth.

“We have keenly admired the work that The Tony Elumelu Foundation has been doing with entrepreneurs across Africa, and took a cue from President Muhammad Buhari to support these efforts on behalf of the federal government through the EEFP under the Nigeria Economic Sustainability Plan (NESP),” Mr Awolowo noted.

The N400 million NEPC grant to the foundation is aimed to target Nigerian entrepreneurs who are willing to outgrow other governments in Africa to support the organisation in its bold drive to create tens of thousands of entrepreneurs across the continent.

In her remarks, the Chief Executive Officer of TEF, Mrs Ifeyinwa Ugochukwu, noted that the core mandate of the foundation is to empower young African entrepreneurs with training, support and first stage funding needed to start their businesses.

“We are very excited to have been identified by the NEPC/ EEFP as a reputable organisation to partner and empower 50 young Nigerian entrepreneurs with easy access to foreign markets and a one-of-a-kind opportunity to show the rest of the world the quality of minds and products that we have in Nigeria.

“Over the years, we have provided targeted technical assistance and support, equipping entrepreneurs with resources that capacitate them to transform the continent.”

The foundation boss recalled that the organization has launched a digital platform that enables market linkages for African entrepreneurs, called the TEFConnect.

Also at the signing ceremony, graduates from the TEF network of over 4,000 Nigerian entrepreneurs were present to share their business success stories with NEPC.

The strategic objective of the N400 million grant is to promote export inclusion, market access, and minimise logistical and export trade facilitation challenges.

Selected beneficiaries are from the TEF Alumni network of over 10,000 African entrepreneurs, who have been trained, mentored, and funded to enable their businesses to grow.