PremiumTrust Bank has awarded ₦50 million in business grants to 13 promising Nigerian entrepreneurs to help them grow and scale their businesses.

The grant recipients were selected from hundreds of applicants under the bank’s entrepreneurship support programme. Each entrepreneur received funding ranging from ₦2 million to ₦5 million, depending on their business needs and potential impact.

The presentation ceremony took place in Lagos, where officials of PremiumTrust Bank congratulated the winners and urged them to use the money wisely to create more jobs and solve problems in their communities. The beneficiaries operate in different sectors, including agriculture, fashion, technology, food processing, and renewable energy.

Speaking at the event, a representative of the bank said the initiative forms part of PremiumTrust’s commitment to supporting small and medium enterprises (SMEs), which are the backbone of Nigeria’s economy. The bank noted that access to capital remains one of the biggest challenges facing young entrepreneurs in the country.

The 13 entrepreneurs expressed gratitude for the opportunity. Many of them said the grants would help them buy equipment, expand their operations, employ more people, and reach more customers.

This latest intervention brings PremiumTrust Bank’s total support to entrepreneurs and SMEs to over ₦200 million in the past year. The bank also promised to provide additional mentoring, business training, and networking opportunities to help the grant recipients succeed.

Nigeria has millions of young people with brilliant business ideas but limited capital. Initiatives like this are helping to reduce unemployment and stimulate economic growth at the grassroots level.

PremiumTrust Bank says it will continue to support Nigerian entrepreneurs through grants, loans, and capacity-building programmes as part of its contribution to national development.