Unity Bank Deepens Youth Empowerment with N16m in Grants for NYSC Entrepreneurs
In demonstration of its commitment to youth empowerment and enterprise development, Unity Bank Plc has awarded ₦16 million in seed capital to 30 young Nigerian entrepreneurs under its flagship Corpreneurship Challenge programme.
The initiative, which is part of the bank’s long-term strategy to support micro, small, and medium enterprises (MSMEs), saw youth corps members from 10 states compete in a high-impact pitch competition spanning key National Youth Service Corps (NYSC) Orientation Camps across Nigeria.
According to Adenike Abimbola, Divisional Head of Retail and SMEs at Unity Bank, the winners emerged from Batch A, Stream 2 participants who pitched business ideas spanning fashion, agribusiness, events management, confectionery, and crafts.
“We’re not just funding ideas, we are building Nigeria’s next generation of job creators,” said Abimbola. “These young entrepreneurs demonstrated innovation, resilience, and a clear understanding of market gaps their ventures are addressing.”
Highlights from Lagos Pitch
At the Lagos NYSC camp in Ipaja, Adeniyi Gbemininyi emerged as the overall winner, earning the ₦800,000 grand prize for his fashion design venture. He was closely followed by Kolawole Darasimi (₦500,000 for bag-making) and Elizabeth Ene (₦300,000 for pastries and cake production).
Across the nine other states—Cross River, Niger, Abuja, Nasarawa, Taraba, Kaduna, Plateau, Jigawa, and Anambra—27 other corps members secured grants ranging from ₦200,000 to ₦500,000. Their business pitches covered high-impact sectors including fish farming, piggery, poultry, beverage production, printing, and soap making.
Strategic Alignment with National Goals
Unity Bank’s Corpreneurship Challenge, now in its sixth year, aligns with Nigeria’s broader economic diversification and youth development agenda. Run in partnership with the NYSC Skill Acquisition and Entrepreneurship Development (SAED) Programme, the initiative serves as a talent pipeline for Nigeria’s informal and formal economies.
The programme has attracted thousands of applications annually, with winning pitches evaluated based on:
- Originality and Innovation
- Market Viability
- Job Creation Potential
- Business Acumen and Financial Planning
Since its launch in 2019, Unity Bank has invested over ₦100 million in the initiative, producing over 160 youth-led startups.
Youth Empowerment as Economic Strategy
Nigeria, currently battling high youth unemployment and a sluggish job market, is seeing private sector interventions like Unity Bank’s as essential to reversing economic stagnation and boosting grassroots prosperity.
“Empowering young people is no longer a CSR gesture; it is a national imperative,” Abimbola stressed. “This generation is brimming with ideas. What they need is access to funding, mentorship, and market linkages. That’s what the Corpreneurship Challenge delivers.”
As a retail-focused institution, Unity Bank’s strategy continues to tilt toward MSMEs—widely regarded as the bedrock of Nigeria’s economy, contributing nearly 50% of GDP and employing over 80% of the workforce.
What’s Next?
Analysts suggest that the Corpreneurship model could be scaled beyond NYSC to reach non-graduate youth and women-led businesses in rural and peri-urban communities. Unity Bank’s early-mover advantage in youth-based entrepreneurship finance could also become a unique differentiator in Nigeria’s highly competitive retail banking space.
Meanwhile, with youth unemployment hovering near 40%, more Nigerian banks may need to follow Unity Bank’s lead in creating scalable, impact-driven programmes that provide real capital—not just skills—for grassroots businesses.
BRANDECONOMY Insight
Unity Bank is not just filling a gap in SME financing—it is cultivating Nigeria’s entrepreneurial ecosystem from the ground up. As the informal sector continues to grow, expect such targeted grant-based programmes to become a core CSR and strategy playbook for forward-thinking financial institutions.
