Twenty businesses have won N1 million each in the March 8th Initiative for Small Businesses organized by the Friends of Professor Yemi Osinbajo to celebrate his 63rd birthday.
Small business owners were invited to apply for a one-off small business grant to celebrate the birthday of Prof. Yemi Osinbajo, SAN.
To enter the competition, prospective small businesses were asked to write a one page proposal on how N1 million would improve their businesses.
The requirements to enter for the competition were that the entrant(s) resides in Nigeria; must be aged between 18 to 35 years and business must be a Nigerian brand.
Of the thousands of small businesses that fulfilled the requirement for the competition 100 businesses were picked. The selected winners are undergoing a verification stage.
The proposals went through two screening phases. The first screening stage was a screening for formal eligibility by a team of independent experts. They screened the applications on the terms and conditions stated on the invitation to apply.
A total of 485 applications scaled through this stage and were eligible for second screening.
The second phased was assessed by a panel of internationally accredited evaluators. They evaluated the proposals based on its substance and awarded marks on the following criteria; innovation, value creation, feasibility, value capture, written composition, clarity.
The final stage of the assessment was overseen by two panelists, Kenneth Amaeshi and Furera Isma Jumare.
After the screening phase, a statement on the Instagram page of the Friends of Osinbajo explained that the selection was provisional and that it would become solidified upon the fulfillment of certain conditions.
“Congratulations to the winners,” the post on Instagram said, adding that, “First, thank you to everyone who sent in an application, we wish we could give to everyone. Non-selection is by no means a reflection on your capacity. Getting up everyday to be an entrepreneur is something to be very proud of.
“We are proud of you and all your hard work.”
“Now to those whose names are listed here, Congratulations! Please note the following, “This selection is provisional. It becomes solidified upon fulfilling conditions that we will share with you by email in the next 48 hours.
“We advise that each selected business follow instructions properly and respond within stipulated time.
“Stay tuned to our social media channels for updates”.
The post by the Friends of Prof was accompanied by the 100 names of those who were in the provisional list and who will be confirmed after the verification process.
Twenty of the businesses are, Afrilearn, Twenty Four Seven Courier Services, The EXPO Campus Limited, Red Button, Pearl Casual, Kazahchat School, Nwebe Happy, Norlan Noble, Catfish Farming, Marvis Honey and Axon Recycling.
Others are Albino Rats, Gold Mark Engineering Construction, OyaPrice, Kalibotics, Fembiza International Ventures, My School Express, Springsafe Global Services Limited, Las Gidi Recyclers and Packageo International.