In a significant boost for Nigeria's small business ecosystem, the Carol & Prince Arheghan Foundation has disbursed a total of ₦2 million in financial grants to four promising entrepreneurs. The disbursement ceremony was a highlight of the 2025 Business Summit, which took place at The Emunah Conference Centre in Shasha, Akowonjo, Lagos.
Empowering Grassroots Innovation
The foundation awarded ₦500,000 to each of the four selected beneficiaries. This move is designed to provide concrete, practical support for young business owners who are looking to scale their operations and navigate the country's challenging economic landscape. The summit itself was themed "Thriving Through Innovation: Future-Proofing African Businesses in a Shifting & Challenging Economy."
Speaking at the event, Carol Arheghan, who is the Creative Director and CEO of Karotiz Couture as well as the host, emphasized the foundation's core mission. "The grants are part of our ongoing effort to encourage innovation and provide real, tangible support to emerging entrepreneurs," she stated. "We believe that empowering youth at the grassroots level is critical for building resilient businesses that can withstand economic challenges."
A Platform for Knowledge and Networking
The summit, organized with support from the Bank of Industry, was free to the public. It offered attendees a valuable platform to connect with industry experts, investors, and fellow entrepreneurs. Discussions focused on actionable strategies for dealing with rising operational costs, changing consumer behaviour, and the ongoing digital transformation.
A notable roster of speakers shared their insights, including:
- Prince Arheghan, Chairman of Karotiz Couture.
- Dr. Jamie Pajoel, Founder and CEO of JMP Leadership Institute, Canada.
- Business strategist Olushola Olayeye.
- Financial coach Coach Nancy.
- Media personality Treasure Kalu.
- Gabriel J. Nissim, founder of Gabi Media.
They covered essential topics such as leadership development, technology adoption, brand positioning, and building business resilience.
Bridging the Gap Between Opportunity and Capacity
Prince Arheghan explained the thinking behind the grant initiative. He stressed that the foundation is focused on action, not just talk. "We are not just talking about business growth; we are putting resources directly into the hands of those who are prepared to innovate and expand," he said. He described the grants as a crucial tool to bridge the gap between opportunity and the capacity to seize it for young Nigerian business owners.
The event successfully drew participants from across Lagos's vibrant SME sector. It reinforced the foundation's long-term mission to foster entrepreneurship and leadership development throughout Africa. The clear message was that innovation, coupled with targeted financial support, is a key driver for achieving sustainable business growth on the continent.
