Home FEATURED Money 101: What Every Young Nigerian Needs To Know Right Now!

Money 101: What Every Young Nigerian Needs To Know Right Now!

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It was 48 hours of intense business plans and strategy! If there was any shred of doubt that Nigerian youths are not lazy, the participants of MTN Nigeria’s Youth Entrepreneurship Development Programme, YEDP, have destroyed. We learned a lot too…
The energetic young entrepreneurs took our minds for a spin with their big dreams. It was enviable to see the 10-year-long plans of some of them. Blinding dreams!
And yup, we met a set of twins who want to be agri-tech entrepreneurs – The Ajireloja brothers; Moses Taiwo and Joseph Kehinde! They are combining technology and agriculture to expand Nigeria’s outlook to Agric as well as market farm produce.
The judges had a hard time with this set of participants. And here’s where we found a treasure trove of secrets on business and making money in Nigeria! Here’s what we found:
1. Create the idea you love and can go to battle for: Find a space in what you are good in and champion it! Start with an idea that you can fight for with your ‘chest’!
2. Train yourself: Get some business management skills training so you can understand the rudiments of business, competition and how to make returns. It’s essential!
3. Get a mentor: Don’t laugh at it, till you understand what the judges mean. A  success story can inspire you and a mentor can be instrumental in showing you their mistakes and how they created their successes. Learn from the past…
4. Create a plan: Devise a business plan that is actionable. Make projections, and don’t be shy about the future. DREAM HUGE!
5. Go for it! Do we need to explain this? Do everything you can to achieve what your mind has birthed. Be smart. Think fast, think far and surround yourself with people that have the same hunger as you do
We learnt a whole lot more, but we can only give you a glimpse! Lol!

So, chase that bag, catch it, please, and own it!

L-R: Chief Corporate Services Officer, Tobechukwu Okigbo; Group Head, Creative Industry, Bank of Industry, Mrs. Uche C. Nwuka; Executive Secretary, MTN Foundation, Odunayo Sanya; Group Head, SME Credit, Bank of Industry, Festus Taiwo Oyenola; MD/CEO, Crown Natures Nig. Plc, Mrs. Omolara O. Aromolaran; Regional General Manager, Lagos/South West, MTN Nigeria, Josephine Sarouk; Owner, Minuel Designs, Emmanuel Faleti and Head, SME Funds, Bank of Industry, Michael Oye during the pitch for MTN Foundation’s Youth Entrepreneurship Development Programme, YEDP,  an initiative targeted at empowering young Nigerian entrepreneurs, in Ikoyi, Lagos.

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