Shell Petroleum Development Company of Nigeria Limited (SPDC) has disclosed the disbursement of N56 million grants to 140 youths under the Shell LiveWIRE Nigeria entrepreneurial training.
The youths, who were reportedly selected from eight states which include Abia, Akwa Ibom, Bayelsa, Cross Rivers, Delta, Edo, Imo, and Rivers states were provided with business and financial support in a bid to help them to establish small and medium scale businesses.
Speaking during the graduation of the youths from the LiveWIRE programme, the General Manager External Relations of SDPC, Igo Weli, who was represented by SDPC Manager for Social Performance and Social Investment, Gloria Udoh said since its launch, it has had about 7,212 beneficiaries.
“These beneficiaries have become part of the 7,212 Niger Delta young entrepreneurs who have graduated from the LiveWIRE Nigeria programme since SPDC launched this flagship youth enterprise development programme in 2003.
“Shell LiveWIRE Nigeria has produced young entrepreneurs, most of whom are now employers of labour. Some of the beneficiaries are also given the opportunity to play in SPDC’s supply chain as vendors and are provided with access to growth capital,” Weli said.
Why this matters: The role of SMEs in enhancing economic growth and development has, over time, been widely acknowledged globally. Economic wealth all over the world is created through enterprises and the expansion of their output. This is why this programme by Shell is important as it creates value and enhances the gross domestic product.
What you should know: As The Nation reported, the Shell LiveWIRE Nigeria Programme is part of the global Shell LiveWIRE social investment programme, which enables youths to start their businesses and create employment. It provides young entrepreneurs with access to essential business knowledge and customised support they need to transform their enterprising ideas into viable and sustainable businesses.
The LiveWIRE programme is targeted at SPDC Joint Venture host communities and others in the Niger Delta to inspire, encourage and support youths to start their own businesses or expand existing ones by providing them with the requisite training and start-up finance in the hope that, with legitimate alternative means of livelihood, young men and women will turn their backs on vices.