... Empowers 300 micro-entrepreneurs with capital, business coaching
By Joyce Remi-Babayeju
Prosperity 360 (P360), a non-profit development organization, has supported 300 micro-entrepreneurs across five states and the Federal Capital Territory (FCT) with productive capital and business coaching to promote wealth creation and strengthen livelihoods.
The beneficiaries, drawn from Adamawa, Katsina, Taraba, and Lagos states, as well as the FCT, include traders, artisans, food processors, and smallholder farmers reached under the organization's Micro-Livelihood Acceleration Programme (MicLAP), launched in June 2026.
In a release issued by the Programme Director of P360, Idion Ikyo, the intervention provides business inputs, working capital support, practical training, and individual business plans to help beneficiaries expand their enterprises, improve incomes, and build financial resilience.
The initiative comes against the backdrop of widespread informal employment and rising poverty in Nigeria. The National Bureau of Statistics (NBS) reported that about 93 percent of employed Nigerians were engaged in informal work in the second quarter of 2024.
Similarly, the World Bank's Nigeria Development Update reported that the country's poverty rate rose from 56 percent in 2023 to 61 percent in 2024 and 63 percent in 2025, affecting approximately 140 million people.
Under MicLAP, P360 assessed participants' business needs and helped them develop Individual Prosperity Plans with practical goals and milestones.
Beneficiaries also received support to acquire business stock, raw materials, tools, and other productive resources, alongside coaching in pricing, record-keeping, stock control, cash management and reinvestment.
P360's Adamawa State Coordinator, Idinyi said the programme was designed to address the challenges of hardworking entrepreneurs who lack adequate working capital and basic business management systems.
“The people we met were not short of effort. What they lacked was working capital, simple business systems, and a cushion against shocks,” the coordinator said.
The organization said it would monitor beneficiaries' income, sales, savings, and business performance through follow-up assessments to establish the programme's impact.
Similarly, P360 said the next phase would deepen business coaching, strengthen market access, and generate evidence of sustainable improvements in beneficiaries' livelihoods.
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