Union Bank of Nigeria has demonstrated its commitment to homegrown businesses by sponsoring the 2025 RISE Business Challenge in the University of Lagos (UNILAG), Akoka.

In a statement released by the bank on Friday, the sponsorship took place under Union Bank’s Made In Naija initiative, during the 6th Annual Youth Leadership Conference in UNILAG.

Dubbed “Turning Point 6.0”, the Resilience, Innovation, Social Responsibility, and Entrepreneurship (RISE) Challenge is a partnership.

The collaboration is between the Union Bank and the Conference Convener, Mr Olusegun Odufuwa, designed to empower youth-led businesses with financial and mentorship support through a pitch competition.

Targeted at uplifting young men and women with requisite entrepreneurial skills, the event aligns with one of the Union Bank’s primary objectives of encouraging Made In Naija.

The event is targeted at empowerment of the next generation of Nigerian innovators and business leaders, culminating in positive social impact and sustainable economic growth.

The competition also aims to identify and reward outstanding business ideas demonstrating viability, sustainability, and social impact.

The 2025 RISE Challenge winners were chosen after a rigorous selection process involving participants sending their proposals for a team of judges and business experts to assess.

The final four selected competitors then pitched their ideas individually to a panel of judges, who chose the winners based on innovation, social impact, sustainability, and financial viability.

The first, second and third places received cash prizes of N1,000,000, N750,000, and N250,000, respectively.

During the event, Ayokunumi Abraham, Head SME of Union Bank of Nigeria, said the bank was passionate about supporting Made In Naija and youth-led businesses to scale for sustainable growth.

“We believe this will not only boost and nurture upcoming enterprises but also create a positive ripple effect that will drive employment, innovation, economic opportunity, and access.

“(It will) also empower small and medium businesses across the length and breadth of the country,” he said.

Abraham said the RISE conference was a premier annual gathering designed to equip young leaders and entrepreneurs with the resilience, innovation, and social responsibility required to thrive in fast-paced world.

He added that the 2025 edition attracted diverse attendees, including young professionals, entrepreneurs, business executives, policymakers, and thought leaders.

He said that the Union Bank would continue to promote Made In Naija and young innovators to drive economic growth and strengthen its position as a leading bank for entrepreneurs. (NAN)