The Edo State government, under the leadership of Governor Godwin Obaseki, has embarked on a significant initiative to empower its youth population and stimulate economic growth through the Edo Youth Impact Forum (EYIF). This program, spearheaded by Deputy Governor Dennis Idahosa, aims to foster entrepreneurship and innovation among young people by providing a platform for them to develop their business ideas and access crucial start-up funding. Recognizing the pivotal role of youth engagement in securing a vibrant economy, the government has committed substantial resources to this program, underscoring its dedication to nurturing the next generation of business leaders within the state.
The EYIF initiative involves a rigorous selection process designed to identify the most promising and impactful entrepreneurial ventures. Beginning with an initial pool of 1,500 applicants, a stringent screening procedure gradually narrows the field to identify individuals with the most viable and innovative business proposals. As of the latest update, the number of participants has been reduced to ten, and this group will undergo further evaluation to eventually select five finalists. Despite the competitive nature of the program, the emphasis is on encouraging all participants, recognizing that their engagement in the process itself represents a valuable learning experience and a testament to their entrepreneurial spirit.
Deputy Governor Idahosa, actively involved in mentoring the participating youths, has emphasized the importance of their active role in shaping the state’s economic landscape. He urged participants to embrace the opportunities presented by the program and maximize the potential of the N2 million start-up grant offered by the government. This grant serves as seed capital for the finalists to launch or expand their businesses, providing a crucial financial boost in the critical early stages of development. The deputy governor’s involvement demonstrates the government’s commitment to not only providing financial support but also offering guidance and mentorship to ensure the success of these young entrepreneurs.
The EYIF program reflects a broader strategy by the Edo State government to invest in its human capital and create a thriving entrepreneurial ecosystem. By providing young people with the necessary resources and support, the government aims to foster innovation, create job opportunities, and ultimately drive sustainable economic growth within the state. The program’s focus on mentorship and guidance underscores a holistic approach to youth development, equipping participants not just with financial capital but also with the essential skills and knowledge to navigate the challenges of starting and running a business.
Beyond the immediate impact of providing start-up funding, the EYIF initiative seeks to cultivate a culture of entrepreneurship among Edo State youth. By highlighting success stories and promoting the benefits of self-reliance, the program aims to inspire a new generation of business owners and innovators. This long-term vision extends beyond individual ventures, envisioning a dynamic economic landscape fueled by the creativity and ingenuity of its young entrepreneurs. Ultimately, the program’s success will contribute to the overall economic development and diversification of the state.
The Edo Youth Impact Forum, under the leadership of Senator Monday Okpebholo, represents a significant investment in the future of Edo State. By providing a structured pathway for young entrepreneurs to develop their ideas, access funding, and receive mentorship, the program lays a strong foundation for sustainable economic growth driven by innovation and youth empowerment. The government’s commitment to this initiative signals a proactive approach to addressing unemployment, promoting economic diversification, and ultimately building a more prosperous future for the state and its people. The success of the EYIF program will not only benefit the individual participants but will serve as a model for other states seeking to empower their youth and foster a dynamic entrepreneurial environment.
