By Seun Ibiyemi
Union Bank of Nigeria has reaffirmed its backing for locally driven enterprise by sponsoring the 2025 RISE Business Challenge, hosted at the University of Lagos (UNILAG), Akoka.
According to a statement issued by the bank on Friday, the sponsorship was part of its Made In Naija initiative and took place during the 6th Annual Youth Leadership Conference held on the university campus.
Titled “Turning Point 6.0”, the RISE Challenge — an acronym for Resilience, Innovation, Social Responsibility, and Entrepreneurship — is the result of a partnership between Union Bank and the conference convener, Mr Olusegun Odufuwa. The initiative is focused on supporting youth-led enterprises with both financial assistance and mentorship opportunities through a pitch-style competition.
Designed to uplift young Nigerians equipped with entrepreneurial skills, the event aligns with Union Bank’s mission to nurture local talent and stimulate homegrown innovation under the Made In Naija banner.
The initiative is geared towards empowering the next generation of Nigerian business leaders and innovators, while fostering sustainable development and meaningful social impact across the country.
The competition sought out business ideas that demonstrated not only originality and viability but also long-term sustainability and potential for positive societal change.
Winners of the 2025 RISE Challenge emerged through a competitive, multi-stage selection process. Participants were first required to submit business proposals for evaluation by a panel of judges and industry professionals. The top four contenders were then invited to pitch their ideas live to a judging panel, which assessed them based on creativity, financial soundness, social value, and long-term impact.
Cash prizes were awarded to the top three pitches: N1,000,000 for first place, N750,000 for second, and N250,000 for third.
Speaking during the event, Ayokunumi Abraham, Head of SME Banking at Union Bank, affirmed the bank’s dedication to advancing Made In Naija and youth entrepreneurship as pathways to long-term economic growth.
“We believe this will not only support and scale emerging businesses but also generate a ripple effect across the economy, creating jobs, spurring innovation, and expanding access to opportunity,” Abraham said.
He noted that the initiative would continue to empower small and medium-sized enterprises across the country, further entrenching Union Bank’s role as a trusted partner for Nigerian entrepreneurs.
Abraham also described the RISE conference as a flagship annual gathering crafted to equip young changemakers with the resilience, innovation, and sense of social responsibility needed to thrive in today’s rapidly evolving world.
The 2025 edition, he added, drew a broad range of participants including budding entrepreneurs, professionals, business executives, policy influencers, and thought leaders — all united by a shared commitment to youth empowerment and national progress.
Union Bank pledged to remain an active supporter of locally made products and innovations, with a continued focus on enabling Nigeria’s entrepreneurial future.