In its 10 years of running the Business Plan Competition, ZSF has disbursed ₦103,450,000 to youth-led businesses across Nigeria, reinforcing its mission to turn charity into empowerment and empowerment into prosperity.
* Disburses ₦103m seed capital to over 200 youths in ten years
* Winners urged to invest wisely, build sustainable businesses
The Zakat and Sadaqat Foundation (ZSF) has awarded cash prizes to winners of its 10th Business Plan Competition, as part of its 25th anniversary and International Youth Day celebration, doling out ₦9 million to nine star prize winners and N200,000 each to 11 runner-ups.
The star prize winners and the runner-ups were unveiled at the Grand Finale and Award Ceremony held on Wednesday, August 27, at Airport Hotel, Ikeja, Lagos, with a call on them to spend their prize money wisely and use it to build sustainable businesses that create value for society.
Muslim News gathered that the competition – founded in 2015, has produced about 90 star prize winners, 118 runner-ups with whooping ₦103 million grants invested to support their businesses.
It’s a truly historic occasion, says Prince Olagunju
Speaking at the ceremony, Executive Director of the Foundation, Prince Sulaimon Olagunju, described the event as “A truly historic occasion that combines three great milestones.”
“First, we are celebrating the 10th edition of our Business Plan Competition Award Ceremony. Second, we are marking our Silver Jubilee – 25 years of dedicated charity and empowerment through Zakat and Sadaqah. And third, we are continuing our tradition of making the International Youth Day celebration impactful by empowering young people with real opportunities,” he said.
He explained that in the last decade, the programme has produced about 90 star prize winners, 118 runner-ups, and disbursed over ₦103 million as seed capital to youth-led businesses.
“This year, 2025, the competition reached a remarkable milestone with over 900 youths registering and participating. Out of this highly competitive pool, nine star winners each received N1 million, while 11 runner-ups got N200,000 each,” Olagunju noted.
The Executive Director of the Foundation expressed happiness in the success of the competition, saying it has achieved its goal of supporting youths with able ideas, equipping them with entrepreneurial skills, and providing the seed capital needed to turn dreams into reality.
“Ahamdulillah, the results have been inspiring. Over the past 10 years, this programme has been produced,” he noted.
Your recognition is a launchpad: Alhaji Idris
Chairman of the event and Executive Director/CEO of Timeline Consult, Alhaji Shuaib Idris, commended the resilience of participants, urging the young entrepreneurs to see the competition as the beginning of countless other journeys of innovation, enterprise, and impact.
“This competition has not merely been about winning prizes, it has been about nurturing ideas, building confidence, fostering collaboration, and igniting the entrepreneurial spirit that our nation and indeed the world so urgently needs,” Idris said.
He encouraged the winners to see their recognition as a launchpad. “To our nine winners – I say congratulations. Your ideas have stood out. To our runner-ups – do not see this as a loss, for you too have triumphed. In the world of business, every attempt, every lesson, is a stepping stone to success.”
Competition designed to empower youths sustainably: Varsity Don
Also speaking, Chairman of the Board of Directors of ZSF and varsity lecturer Prof. Tajudeen Olalekan Yusuf, said the initiative was designed to empower youths sustainably.
“We felt that as a foundation, we should not just be giving people money. When we give money out, we monitor the money. We discovered that some people, if given the right economic support, won’t be begging. The wealth of the Ummah will grow,” he explained.
Our bank will continue to support ZSF’s youth empowerment drive: MD Agboola
On his part, Abdul Rasaq Agboola, MD of Al Barakah Microfinance Bank and Chairman of the competition’s technical committee, advised young entrepreneurs to do business with passion.
“As the economy is so hard presently, I would advise that they should be familiar with the environment so they can have information that will make them thrive. Do a business you will not get tired of, even when you’re facing challenges,” he said.
Agboola assured that his bank will continue supporting ZSF’s youth empowerment drive. “The youths are the only source of our future, and we cannot jeopardise our future. That is why we chose this collaboration with ZSF, because our youth are the future of tomorrow.”
Beneficiaries show gratitude
The beneficiaries showed gratitude to Allah and the organisers for the opportunity to showcase their businesses and access support funding.
Speaking with Muslim News, one of the winners, Hajia Peleowo Sururat Ayoola from Ilorin, described the recognition as a blessing. She said the programme was not only about the financial reward but also about giving young entrepreneurs visibility and a platform to share their brand stories.
“I thank Allah for being able to emerge as one of the star winners. I appreciate the Foundation for giving the youths the opportunity to showcase what they do. It is beyond the money; it gives us brand visibility, an opportunity to tell the story of our brand in a celebratory way.
“The funding will also go a long way in supporting aspects of my business. I pray Allah bless all the brains behind Zakat and Sadaqat Foundation and make it grow beyond imagination,” she said.
Another star winner, Hajia Nusaybah Adenike Maruf, also expressed excitement, noting that the grant would help her execute some pending business projects.
“I am happy and excited because I have a lot of projects for my business, and with this grant, I will be able to bring some of them to life. At first, I was scared and unsure if I would be part of the winners because there were about 900 participants during the virtual training. I just decided to try, but later, I received an email confirming that I was among the winners. For this, I give thanks to Allah,” she said.
Both winners emphasised that this initiative is a life-changing opportunity, inspiring young entrepreneurs to pursue their goals with renewed hope and confidence.
In its 10 years of running the Business Plan Competition, ZSF has disbursed ₦103,450,000 to youth-led businesses across Nigeria, reinforcing its mission to turn charity into empowerment and empowerment into prosperity.
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