Nigeria stakeholders call for more private-sector funding for entrepreneurs

Business leaders and stakeholders in Nigeria are calling for increased private-sector funding, improved mentorship, and better market access to support young entrepreneurs. At the Gem Hunt 5.0 enterprise pitch competition in Abuja, organizers highlighted that high energy costs, limited digital access, and strict collateral requirements from banks remain significant barriers to business growth.

Dr. Sadiq Suleiman Abdullahi, Chairman of Bilaad Realty Limited, urged international oil companies and commercial banks to direct more corporate social responsibility and impact-investment funding toward early-stage enterprises. He also emphasized the importance of capital mentorship, which involves transferring practical business management skills and networks from established leaders to emerging entrepreneurs to help them overcome operational challenges.