The Lagos Chamber of Commerce and Industry has received sponsorship worth N10m from Providus Bank as a grant for entrepreneurship studies. The partnership is expected to continue for the next three years in the first instance.

The sponsorship will also involve upgrading, equipping, and branding the learning centre, provision of packaged soft loans for the students graduating from the entrepreneurship programme and provision of grants to deserving students graduating from the entrepreneurship programme.

It would also include the provision of support services for the young entrepreneurs in the programme, in the form of advisory services in areas such as business development series and revamping sessions, financial literacy, planning and guidance, among others.

This partnership is aimed at growing and improving the SME space through entrepreneurship training. It would start off with the LCCI Entrepreneurship Mentoring Programme as well as the LCCI-LASU Diploma in Entrepreneurship.

According to the chamber, the benefits of the diploma programme include direct entry to degree programmes at Lagos State University and access to grants and loans worth millions of naira by Providus Bank.

It added that participants also stand to gain practical entrepreneurial skills acquisition and access to the vast network and resources of the chamber. Students will also participate in business counselling and mentoring, business tours, business hangouts, as well as hybrid classroom learning.

The programme is expected to kick off in May.

Speaking on the partnership, the Chief Financial Officer of Providus Bank, Deoye Ojuroye said,

“This is something we are committed to. we do not want it to be a one-off. Businesses are the bedrock of economic development. It is a partnership we hope will go into the future.”