The AKEM Foundation has marked its fourth anniversary with the empowerment of five young entrepreneurs through grant prizes worth over N6 million, as the foundation continued its mission of promoting education, entrepreneurship and youth development in Nigeria.
The anniversary event, held in Lagos on Friday, celebrated the journey of the foundation established by Dr. Ayodele Ogunsan alongside his siblings, Abiodun, Aduke and Folorunsho Ogunsan, in honour of their late parents, Engr. Akinola Ogunsan and Madam Emiola Ogunsan.
Speaking during the event, Chairman of the foundation, Dr. Ayodele Ogunsan, said the initiative was inspired by the enduring values of discipline, compassion, education and enterprise instilled in them by their parents.
According to him, the family decided to sustain their parents’ legacy by creating opportunities for young Nigerians through educational and entrepreneurial support programmes.
“About five years ago, myself and my siblings decided that we must keep this legacy alive having been tutored by these wonderful beings. We are products of good parenting,” he said.
Dr. Ogunsan explained that the foundation started with support for four organisations in 2023 but has since expanded into structured interventions in education, social welfare, business empowerment, youth mentorship and community development.
He disclosed that the foundation received 71 applications for this year’s business grant competition, which was later pruned down to five finalists after several screening stages.
The first-place winner, Adetolani Amokaye, received a grant prize of N1.5 million, which was later increased to over N2 million through additional support from dignitaries at the event.
Adeola Deborah Agboola emerged second and received N1.25 million, while third-place winner, Nkechi Gift, got N1 million alongside additional support from members of the Chinese business community, including product orders and access to packaging and agricultural support.
Other beneficiaries included Ekom Gideon Fidelis, who came fourth, and Ajala Tiyinoluwa Busola, who emerged fifth.
Also speaking, the Managing Director and Chief Executive Officer of the foundation, Abiodun Ogunsan, described the organisation as a platform focused on creating hope and enabling young Nigerians to become catalysts for change.
“We are not just building an organisation. We are building hope, transforming lives and shaping a future where no dream is limited by lack of opportunity,” he said.
The business pitch competition was assessed by a four-member panel comprising Ezekiel Ishola of Standard Chartered Bank, Prof. Festus Ope-Davies, Dr. Wunmi Alabi of Lagos University Teaching Hospital, and Dr. Moses Oladimeji of the Lagos State Security Trust Fund-CACCOV.
In separate goodwill messages, guests commended the Ogunsan family for sustaining the initiative and promoting social impact through youth empowerment and philanthropy.
Deputy Chief of Staff to Lagos State Governor, Sam Egube described the foundation as proof that individuals can contribute meaningfully to societal development regardless of the scale of their contributions.
Retired Deputy Inspector-General of Police, Bode Adeleke, described the initiative as “brilliant,” while retired Assistant Inspector-General of Police, Yetunde Longe, praised the family for building a lasting legacy.
Also speaking, Moshood Jimoh, Assistant Inspector-General of Police in charge of Zone 2, commended the foundation for improving on its achievements yearly and urged continued support for the initiative.
The event attracted dignitaries from the security sector, academia, business community, civil society and government circles.
Among those in attendance were the Managing Director and Chief Executive Officer of First Bank of Nigeria, Olusegun Alebiosu; retired senior police officers including Hakeem Odumosu, Lanre Bankole and Agboola Oshodi-Glover; as well as the Commissioner of Police, Lagos State Command, Fatai Tijani.
