The initiative is aimed at creating job opportunities and stimulating economic growth in the country.

According PUNCH News, Speaking on why the choice was made, the National Coordinator of Idea Lab Agency, Emmanuel Aondoakaa, said the FG and some others chose the firm to support its quest for poverty eradication.

He said, “To appreciate the effort of the Federal Government of Nigeria under the leadership of President Bola Tinubu to lift 50 million Nigerians out of poverty, we are passionately appealing for all concerned stakeholders, especially BMO forum of MSMEs of Nigeria, Cooperative Societies and the media to join us in this movement.” 

“We are committed to creating an enabling environment for entrepreneurship and innovation, and this partnership is a testament to our resolve to lift 50 million Nigerians out of poverty.”

The grants will be provided to individuals who are interested in starting or growing their own businesses in the Digital Economy and Creative Enterprise sectors. The program is expected to create thousands of jobs and stimulate economic growth in the country.

The Federal Government has set a target of lifting 50 million Nigerians out of poverty by 2027, and this initiative is seen as a key step towards achieving this goal.