Ooni of Ife Annual Business Idea Competition for Southwest Final Year Students

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The Ooni of Ife, Oba Adeyeye Ogunwusi, had on Tuesday, 17th October, 2017 announced the commencement of a business plan writing competition. 

Tagged the  “Ooni Of Ife Annual Southwest Final Year Student Business Idea Competition”, it is meant for Final year students with wonderful business ideas in their respective courses of study. 

The Special Assistant to the Ooni of Ife on Youth Development and Wealth Creations, Olamide Awosunle, noted that the initiative was in line with solving the problem of unemployment among graduates in Nigeria while promoting entrepreneurship aspects of various courses studied. 

The project is designed to empower 105 final year students of tertiary institutions in South-Western Nigeria by providing start-up capital to the lucky best five (5) winners while also giving the other 100 runners-up an opportunity to be trained as entrepreneurs among other laudable benefits.


  • The best five winners would get N2 million each, a Free Business Registration and an Entrepreneurship training at the Lagos Business School
  • 100 runners-up would get N2 million on Return of Investment (ROI) through the Bank of Industry, a free business registration and an entrepreneurship training by SMEDAN
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Eligibility Criteria

  • Applicants must be final year students 
  • Applicants must be indigenes of Southwestern Nigeria

Selection Criteria

A panel of business, economics and finance technocrats will review the complete business plans of all the contestants in the following criteria:

  • Concept strength
  • Economics of the business
  • Market
  • Operations
  • Financing
  • Management team

Guides for Applicants

  • Application is to be done online
  • Write a business plan on the topic “How I can better my life and others if I have N2,000,000”
  • The business idea must be related to your course of study
  • You must submit your business plan on or before the deadline, 31st May, 2018
  • The plans would be compiled and evaluated between 1st April, 2018 and 30th June, 2018
  • A Verbal Presentation of selected ideas would hold between 3rd and 15th September, 2018 
  • Winners would be announced on 17th October, 2018

A registration fee of N1,000 is required to complete your registration. All payment should be made to the bank information below:

Youth Development (House of Oduduwa)
Zenith Bank

Details of payment should be sent to 

  • info
  • @
  • ooniyouthdevelopment.
  • com
  • Deadline

    31st May, 2018

    The Organisers
    The project is facilitated by the Ooni Youth Development and Wealth Creations Department, Directorate of Media and Public Affairs, Ooni Palace. 

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    Further Information

    Visit the Ooni Youth Development and Wealth Creations website 


    the Ooni’s Palace, Enuwa, Ile-Ife, Osun State, Nigeria

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