The Tony Elumelu Foundation (TEF) has received N400 million in grant funding from the Nigerian Export Promotion Council (NEPC), through the Export Expansion Facility Programme (EEFP), to accelerate the performance of TEF Alumni SMEs in Nigeria within the non-oil Export Sector, the NEPC has announced. According to a press release, the Executive Director/ CEO of NEPC, Mr Olusegun Awolowo, at the signing ceremony, said: “NEPC is delighted to embark on this journey with The Tony Elumelu Foundation as we jointly create an army of exporters to drive non-oil exports and promote the diversification of Nigeria’s export portfolio for inclusive and sustainable economic growth.
“We have keenly admired the work that The Tony Elumelu Foundation has been doing with entrepreneurs across Africa and took a cue from President Muhammad Buhari to support these efforts on behalf of the Federal Government of Nigeria, through the EEFP under the Nigeria Economic Sustainability Plan (NESP).
“We hope that this grant of N400 million to the Foundation targeted specifically for Nigerian entrepreneurs will spur other governments in Africa to support the Foundation in its audacious drive to create tens of thousands of entrepreneurs across the continent of Africa.” Also speaking at the event, Ms Ifeyinwa Ugochukwu, CEO of The Tony Elumelu Foundation, said: “Our core mandate at the Foundation is to empower young African entrepreneurs with training, support and first stage funding needed to start their businesses.
We are very excited to have been identified by the NEPC/ EEFP as a reputable organization to partner with to empower 50 young Nigerian entrepreneurs with easy access to foreign markets and a oneof- a-kind opportunity to show the rest of the world the quality of minds and products that we have in Nigeria.