Union Bank of Nigeria has reaffirmed its commitment to supporting homegrown businesses by sponsoring the 2025 RISE Business Challenge at the University of Lagos (UNILAG), Akoka.
In a statement issued on Friday, the bank said the sponsorship falls under its Made In Naija initiative and took place during the 6th Annual Youth Leadership Conference at UNILAG.
The Resilience, Innovation, Social Responsibility, and Entrepreneurship (RISE) Challenge—branded “Turning Point 6.0”—is a collaborative initiative between Union Bank and the conference convener, Mr Olusegun Odufuwa. The programme is designed to empower youth-led businesses through financial support and mentorship provided via a pitch competition.
The event aims to equip young Nigerians with the entrepreneurial skills needed to build sustainable businesses, in line with the bank’s broader objective of promoting local innovation under the Made In Naija agenda.
The competition sought to identify and reward viable business ideas with strong social and economic impact. After a rigorous selection process, four finalists pitched their ideas to a panel of judges, who assessed them based on innovation, sustainability, and financial feasibility.
The top three winners received cash prizes of ₦1 million, ₦750,000, and ₦250,000, respectively.
Speaking at the event, Ayokunumi Abraham, Head of SME Banking at Union Bank, reiterated the bank’s dedication to nurturing local enterprises and youth-led ventures for sustainable growth.
“We believe initiatives like this not only support emerging businesses but also stimulate employment, drive innovation, and broaden access to economic opportunities across the country,” he said.
Abraham described the RISE Conference as a premier gathering that equips young professionals and entrepreneurs with the resilience, innovation, and social awareness needed to succeed in today’s fast-paced environment.
He noted that the 2025 edition attracted a diverse audience, including business executives, policymakers, young professionals, and thought leaders.
Union Bank, he added, will continue to champion Made In Naija and support young innovators to drive inclusive economic growth.
