PremiumTrust Bank has deepened its push into small-business financing by partnering with the Hallelujah Challenge Corporate Social Responsibility team to award N50m in grants to 13 Nigerian entrepreneurs.

The initiative targets micro, small and medium-sized enterprises, which the bank describes as the engine room of the Nigerian economy. By combining cash support with structured training, the programme aims to help young and growing businesses move beyond survival and into sustainable expansion.

Speaking at the grant award ceremony in Lagos, Managing Director and Chief Executive Officer of PremiumTrust Bank, Emmanuel Emefienim, said the collaboration was designed as a deliberate intervention in a challenging economic climate for small firms.

He explained that the bank saw the Hallelujah Challenge platform as a powerful channel for social impact, noting that it brings together a large, engaged community of Nigerians. According to him, this made it a natural partner for a scheme focused on empowering entrepreneurs and turning business ideas into viable enterprises.

Emefienim stressed that the support package was not limited to disbursing funds. All 13 beneficiaries underwent business training sessions covering financial management, growth planning and resource deployment, with the goal of helping them use the grants effectively and build resilient operations.

Convener and founder of the Hallelujah Challenge, Pastor Nathaniel Bassey, said the partnership marked an evolution of the worship initiative’s vision. He noted that while the platform is widely known for music and prayer, its long-term goal has been to translate spiritual engagement into tangible social and economic impact.

Bassey said the collaboration with PremiumTrust Bank had enabled the organisation to reach more people in practical ways, particularly by backing entrepreneurs whose businesses can create jobs and support local communities.

The beneficiaries emerged from an online business pitch process that drew entries from across Nigeria. A poultry farmer, Inya Irem, took the top spot and received N5m. Four first runners-up – Samuel Oton, Yaya Precious, Mirriam Bwalya and Lois Mazi – were each awarded N2.5m.

The remaining eight entrepreneurs – Nomuoja Edesiri, Omolola Subair, Samson Adewale, Numa Jakitay, Favour Uchechi, Adeboye Adepeju, Gbenga Olaosebikan and Ilesanmi Deborah – received N1m apiece.

Several winners said the combination of funding and training would help them expand production, hire more staff and improve services, with ripple effects expected in their neighbourhoods and supply chains.