In a resounding demonstration of faith-driven economic empowerment, the Zakat and Sadaqat Foundation (ZSF) hosted the grand finale of its 11th Entrepreneurship Development Project (EDP) Award and Prize-Giving Ceremony, organized to commemorate International Youth Day under the theme “Empowering Youth Through Entrepreneurship for Sustainable Development.”

The landmark event celebrated a major milestone in the foundation’s history, cumulative grant disbursements reaching ₦111,850,000 across 223 beneficiaries, proving that Islamic economic instruments like Zakat and Sadaqah remain formidable tools in creating prosperity among young Nigerians.  

Addressing an audience of distinguished scholars, corporate partners and energetic young innovators, the Executive Director/CEO of ZSF, Prince Sulayman Olagunju, framed the initiative as far more than a ceremonial distribution of funds.

“Investing in young people is an investment in the future of our communities and our nation.

“With the successful completion of this 11th edition, the Foundation has directly disbursed a cumulative total of ₦111,850,000 to 223 beneficiaries, this achievement reflects the Foundation’s commitment to fulfilling the Islamic principles of Zakat and Sadaqah as instruments of economic empowerment, social justice and poverty alleviation,” Olagunju noted.

Reinforcing this vision, the Chairman of the Board of Directors, Prof. Tajudeen Yusuf, emphasized that sustainable poverty reduction demands more than hand-outs to address immediate survival needs.

“Today is more than a ceremony for presenting cheques or transferring funds. It is a ceremony of hope, empowerment and transformation,” Prof. Yusuf declared.
 
“Our aspiration at the Zakat and Sadaqah Foundation is therefore not simply to keep giving assistance to the same people year after year. Our greater success is achieved when yesterday’s recipient becomes economically independent and by the grace of Allah, becomes tomorrow’s giver of Zakat.”

Prof. Yusuf urged the awardees to treat the funds as an Amānah (sacred trust), strictly warning against diverting grants to personal consumption, lifestyle inflation or lavish ceremonies.

He advised beneficiaries to maintain proper accounting records, separate personal finances from business accounts and preserve strict business integrity.

According to Lead Consultant Mr. Abdulwasiu Ayoola (affiliated with Yaba College of Technology), interest in the 2026 edition of the EDP reached unprecedented levels, drawing over 1,600 applicants, an increase from the 1,400 applications recorded in the previous cycle.

“Following a free, open-access entrepreneurship training session, over 400 participants applied for direct grant funding. Through screening, independent assessments and oral interviews before a panel of experts, 15 standout finalists emerged across two core tracks, the idea track and the growth track.

He explained that the initiative gained strong corporate backing from industry partners, including Trustlub Fluid Resources Limited and Al-Barakah Microfinance Bank.

Representing the Chairman of Occasion, Trustlub’s CEO, Alhaji AbdulGaffar Akolawole Babatunde, Executive Director of Finance, Alhaji Isiaka Kadiri praised ZSF for identifying and nurturing ethical young leaders. Similarly, Alhaji Rasak Agboola, MD/CEO of Al-Barakah Microfinance Bank, highlighted their five-year corporate social responsibility partnership with the Foundation aimed at building self-reliance among Nigerian youth.

The highlight of the ceremony was the presentation of awards to innovative entrepreneurs whose enterprises address vital socioeconomic needs.

A beneficiary, Mustapha Lemu Mustapha, a seasoned smallholder poultry farmer turned Star Prize Winner, explained how hands-on experience revealed the gaps between local farms and consumer tables.

“Mustylemu Farms partners directly with smallholder farmers via an organic poultry offtake model sourcing, processing, standardizing and distributing whole chicken and cut parts to households, vendors and restaurants.

“My vision is a Nigeria where halal chicken isn’t a special occasion, but something every household counts on the way they count on rice or bread.”

In the Idea Track, Rahman Temitope secured 200,000 to launch product formulation and clinical testing for Itura Care, a health venture tackling severe menstrual cramps (dysmenorrhoea).

“The point of my idea is to help close the gap in terms of women’s economic contribution,” Temitope explained, emphasizing that managing menstrual discomfort prevents downtime and loss of income for female workers and business owners. Inspired by a friend who won two years ago, she plans to deploy the prize money directly toward batch testing before full market launch.