First Bank of Nigeria Limited has awarded ₦10 million in business grants to outstanding women entrepreneurs through its inaugural Spark A Gem Challenge, a new initiative aimed at supporting female-led businesses and promoting inclusive economic growth.
The competition, organised under the bank’s Women Preneur Pitch-A-Ton programme and its FirstGem banking proposition, provided women business owners with access to funding, business development training, mentorship and networking opportunities to help scale their enterprises.
The challenge attracted 356 applications from women entrepreneurs operating across various sectors, including agriculture, healthcare, education, food processing, logistics and hospitality. After a competitive screening process, eight finalists advanced to the final stage of the programme.
The finalists participated in a four-day entrepreneurial development and capacity-building programme before presenting their business ideas to an independent panel of judges in a live pitch session.
At the end of the competition, Mrs. Onyinye Obayi, Founder and Managing Director of Honeypot Confections Ltd., emerged as the overall winner, receiving a ₦5 million grant to expand her business.
The first runner-up received ₦3 million, while the second runner-up was awarded ₦2 million, bringing the total grant disbursed through the inaugural edition of the competition to ₦10 million.
FirstBank also announced that all applicants—not just the winners—will become part of its FirstGem ecosystem. Through the platform, participants will have continued access to tailored banking solutions, business advisory services, financial literacy programmes and future financing opportunities.
The bank said the initiative reflects its long-term commitment to empowering women entrepreneurs, strengthening small businesses and creating more opportunities for female-led enterprises to contribute to Nigeria’s economic development.
