Determined to tackle the problem of poverty andunemployment ravaging Nigerians, Zakat and Sadaqat Foundation, ZSF, has again empowered 20 entrepreneurs with outstanding business ideas to develop their various businesses.

The foundation rewarded 10 winners with the sum of N1million each and N200, 000 each to 10 runners-up who were selected out of the 956 entrepreneurs who applied for the fourth edition of its entrepreneurship development project tagged: Business Plan Competition, BPC in Lagos.

Speaking at the Award/Prize- giving ceremony and certificate presentations to winners, the Chairman, Advisory Board, Zakat and Sadaqat Foundation, Alhaji Umar Abdul Mutalib who was represented by Chief Executive Officer of the JZWTF, Imam Abdullahi Shuaib, commended the foundation for the noble project and urged well-meaning individuals to support the project.

“Your presence here at the yearly Business Plan Competition is an indication of your support for entrepreneurship development and promotion of small scale enterprise in the country. There is no better time than now to encourage this noble project,” he said.

He applauded the winners and appealed to them to make use of the opportunity as the funds were generated from honest and hardworking Nigerians.

“I congratulate all the winners here today who have the best business ideas to be supported by the foundation. You must justify this award with utmost dedication, commitment and hard work to grow your business enterprise to a laudable level. This is the only way the foundation can achieve it entrepreneurship objective, your success means their success. Do ensure you render proper account of your business as at when due to your mentors and the organisation,” he said.

Abdul Mutalib commended the Board and Management team of ZSF, all donors and sponsors of the great project. “I appeal to well to do individuals and organisations to support this entrepreneurship initiative so that collectively, we can move the Nigeria project forward,” he said.

Chairman, Board of Directors, ZSF, Dr Tajudeen Yusuf said the project was an avenue to support diligent youths who have business ideas or those with existing ideas but needed fund to grow.

He described the role of Zakat in the society as a tool that bridges the gap between the rich and the poor by empowering and enriching  hardworking individuals in the society. “We have decided with this competition to take it further by giving encouragement to young entrepreneurs who have the skill, passion and potentials to translate their entrepreneurial spirit to prosperity, so that more entrepreneurs are grown in the society,” he said.

He added that historically in Islam, the prophet (SAW) started as an entrepreneur, by displaying his trustworthiness in supporting the business of Khadijah which later translated into marriage. “Prophet Muhammad (SAW) was able to show dexterity, diligence, passion and integrity in managing the fund given to him by Khadijah, incomparable to what others were bringing back to her”, he said.

Executive Director, ZSF, Prince Sulayman Olagunju said the business plan competitions was an initiative of ZSF meant to support business ideas and existing businesses that are worthy of financial assistance for growth and prosperity.

He noted that the number of applicants in this year’s edition of BPC was 956 against 606 of last year.

“The competitions were conducted by a team of experts in the field of entrepreneurship and empowerment schemes on behalf of ZSF. Our consultants worked round the clock to arrive at the best 10 winners. Each winner will go home with cash awards of N1million. In addition, the 10 runners-up will go home with N200,000 each.

He implored all the winners that receive the grant to maximize its use and keep it as a trust to ensure continuity of the project.

“The grant given to them is neither a national cake nor a free fund. It is hard earned money; it is also the fruits of the sweat of our generous donors who have entrusted their charities to us for onward distribution to rightful beneficiaries. As they did this, they expect in return an effective and efficient utilisation of their funds and creation of more wealth for the benefit of all and sundry.

“Most of the past winners have done very well and that is why we have been able to continue this noble project and also gather here to celebrate them. Please do not break this platform of opportunities for  upcoming generations. It is gratifying to note that many of the previous winners are now donating to the foundation in kind and cash.

He advised the winners to learn as much as possible from their mentors so as to grow their businesses.

“All mentors were carefully selected to meet your needs as they are men and women of proven integrity and successful business owners,” he said.