Lagos Employment Fund, USADF, & Oriki Group Sign Deal To Create Major Wellness Entrepreneurship Hub

Eko Hot Blog reports that the Lagos State Employment Trust Fund (LSETF), the United States African Development Foundation (USADF), and Oriki Global & Synergy Limited have signed an agreement that is set to transform the wellness entrepreneurship landscape in Nigeria.

The trio recently signed the deal at a landmark event held at the LSETF office in Ikeja, Lagos.

According to a joint statement issued by the parties involved in the deal, the $85,000 grant from USADF and Lagos State Government, through LSETF, with technical support from Diamond Development Initiatives (DDI), will enable Oriki to establish a spa & wellness entrepreneurship hub, providing essential economic empowerment and skill improvement opportunities for wellness entrepreneurs.

Oriki Group, a conglomerate that includes a multi-channel wellness spa with 8 locations and a globally sold farm-to-skin retail product range, has been at the forefront of enhancing human capital in Nigeria by offering vocational, technical, and entrepreneurship training to youths.

This initiative has resulted in verifiable job creation within the spa & wellness sector, addressing the critical issue of unemployment.

Joycee Awosika, CEO of Oriki Group, expressed her enthusiasm about the collaboration, stating, “We are delighted to partner with the U.S. African Development Foundation and the Lagos State Government to create an ecosystem where wellness entrepreneurs can thrive.

“This spa & wellness entrepreneurship hub will not only stimulate economic growth but also promote the well-being of our communities.”

LSETF, USADF, and Oriki Group representatives at the deal signing event

Before endorsing the agreement documents, Travis Adkins, the President and CEO of USADF, expressed his appreciation for the initiative, emphasizing that while hoping for its success was commendable and praying for it was powerful, the most pragmatic course of action was to invest in it.

“The most positive thing to do is to hope for the success of the initiative; the most powerful thing to do is to pray for the success of this initiative; but the most practical thing to do is to invest in this initiative. On this note, I sign the document,” stressed Mr Adkins, underscoring the significance of this step.

He averred that USADF was proud to support Oriki Global in its mission to empower wellness entrepreneurs in Nigeria as the partnership aligns with USADF’s commitment to fostering economic development and entrepreneurship in African communities.

The signing ceremony witnessed the presence of several prominent dignitaries, including the Political and Economic Section Chief of the United States Consulate General, Lagos, Mr. Michael Ervin, the Commissioner for Wealth Creation and Employment, Lagos State, Hon. Akinyemi Ajigbotafe, LSETF board members and other distinguished guests.

In her remarks, the Acting Executive Secretary of LSETF, Omolara Adewumi, re-emphasized the Lagos State Government’s dedication to job creation in line with the overarching goal of the state.

“LSETF is committed to fostering opportunities for Lagosians to turn their entrepreneurial aspirations into reality,” she emphasized, underscoring that the collaboration with Oriki and USADF marks a substantial stride towards the actualization of this vision.

Also speaking at the event, Adamu Garba, Executive Director of DDI, emphasized the importance of local support: “DDI is honoured to provide technical assistance in partnership with USADF to facilitate the success of Oriki’s spa & wellness entrepreneurship hub,” he stated, adding that the initiative would undoubtedly create a positive impact on the wellness sector.

The event marked the beginning of a promising collaboration between USADF, LSETF, DDI, and Oriki Group, with the shared goal of fostering entrepreneurship and economic empowerment in Nigeria’s spa & wellness industry.

The LSETF is a government agency established to foster job creation and entrepreneurship in Lagos State, Nigeria. The agency implements strategic and impact-driven programmes to provide access to finance, capacity-building opportunities, tech ecosystem initiatives and business support services to Lagos residents.

On the other hand, Oriki Group is a conglomerate of companies, including a multi-channel wellness spa with 8 locations and a globally distributed farm-to-skin retail product range. The group says it is committed to promoting well-being, empowering entrepreneurs, and enhancing human capital development in Nigeria.

Another player involved in the deal, USADF, is the U.S. government’s independent African enterprise development agency. The agency invests in African grassroots and small- and medium-sized businesses, promotes local economic development, and creates pathways to prosperity for underserved communities.

Utilizing a community-led development approach, USADF provides seed capital and local project management assistance to early-stage African enterprises and entrepreneurs addressing Africa’s biggest challenges around food insecurity, insufficient energy access, and unemployment, particularly among women and youth.

Lastly, DDI is a non-profit organization that empowers vulnerable communities through capacity-building, enterprise development, and access to essential services and funding opportunities. DDI partners with various stakeholders to facilitate sustainable development in Nigeria.

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