In a major boost for the Nigerian SME landscape, Pastor Jerry Eze, convener of the New Season Prophetic Prayers and Declarations (NSPPD), has awarded ₦992 million ($720,000) in grants to 240 entrepreneurs.
The initiative, facilitated through his foundation, aims to mitigate the funding challenges faced by small business owners in a volatile economy. Speaking at the ceremony held on April 29, 2026, Pastor Eze noted that the gesture was born out of a desire to see tangible national development through the empowerment of individuals.
Key Details of the Disbursement
The grant program targeted sectors identified as the primary drivers of Nigeria’s future economic growth: Manufacturing, Agriculture, and Technology.
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Individual Grant Size: Each of the 240 selected beneficiaries received $3,000 (approximately ₦4.1 million).
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Rigorous Selection: According to data managed by KPMG, the program saw over 16,000 registrations, with 9,668 applicants completing the full vetting process.
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Immediate Impact: Beneficiaries reportedly began receiving credit alerts during the event to ensure transparency and immediate operational support.
Key Stakeholders and High-Level Support
The event drew a diverse crowd of policymakers and business icons, signaling a bridge between the faith-based community and formal economic structures.
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Keynote Speaker: Dr. Obiageli Ezekwesili addressed the entrepreneurs, urging them to evolve. “Starting small is the best approach in life, but starting small does not mean staying small,” she noted, challenging the “small is beautiful” mindset in favor of global scaling.
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Regulatory Presence: The Chairman of the Economic and Financial Crimes Commission (EFCC) was in attendance, highlighting the focus on transparency and the legitimate use of the funds.
Economic Context: Why This Matters
This intervention aligns with recent calls from financial leaders—including Dr. Ahmed Popoola of CRC Credit Bureau and Idris Olugbesan of Regent MFB—who have identified access to capital as the number one barrier for Nigerian SMEs.
| Metric | Program Statistics |
| Total Grant Fund | ₦992 Million ($720,000) |
| Number of Beneficiaries | 240 |
| Amount per Entrepreneur | $3,000 |
| Application Success Rate | ~2.5% of total applicants |
Strategic Shift in Philanthropy
The move marks a significant trend in Nigerian clerical leadership, moving from traditional welfare to human capital investment. By providing “seed capital” rather than just aid, the initiative seeks to create a multiplier effect, where 240 businesses can go on to create thousands of jobs across the federation.
