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Piles of cash and a town of solutions in Kenya, Nigeria (Summer School)

July 24, 2026 • 38m

Summary

⏱️ 6 min read

Overview

Planet Money Summer School explores innovative economic interventions in Nigeria and Kenya, examining how these developing nations have pioneered approaches to job creation and poverty reduction. Through two case studies, the episode reveals how Nigeria's You Win competition created 7,000 jobs by giving entrepreneurs cash grants, and how Busia, Kenya became the global center for randomized controlled trials that revolutionized development economics.

The You Win Competition: Nigeria's Entrepreneurial Lottery

Nigeria faced massive youth unemployment with 8 million young people needing jobs. Finance Minister Ngozi Okonjo-Iweala created an audacious solution: a nationwide business plan competition that would give away millions of dollars to small entrepreneurs. Despite initial skepticism about corruption and logistics, the program randomly selected winners from 24,000 applicants, providing business training and substantial cash grants to help them scale up.

  • 8 million young people in Nigeria needed jobs, representing about a quarter of all youth
  • Banks were reluctant to lend to small businesses because most were informal one-person operations without verifiable cash flow
  • The government created a nationwide contest where anyone could submit a business plan to compete for cash grants
  • To prevent corruption, judges were brought in from outside Nigeria and applications were anonymized
  • Winners were partly selected randomly after initial screening to ensure fairness
" We can design, engineer, assemble all American, and it's affordable and it's something that people love. "
" There are 8 million young people in Nigeria who need jobs. "
" Have you won a lottery? And I said, yes, yes, yes. "

Lariat's Story: From One-Woman Operation to Thriving Business

Lariat Alhassan ran a tiny paint business from her car, losing customers because she had no office. Initially dismissing the You Win ad as a scam, she eventually applied and won $65,000—more than ten times her annual income. The grant allowed her to hire staff, rent a proper showroom, and confidently invite clients to her office, transforming her business prospects.

  • Lariat was a one-person paint company who lost clients because she had no office to meet them in
  • She initially ignored the You Win advertisement three times, thinking it was a scam
  • She won 10 million naira (about $65,000), roughly ten times her annual earnings
  • The money enabled her to hire salespeople, marketing staff, and rent a proper showroom
  • Her business is still running today, though she continues to struggle finding financing to grow larger
" I was the production manager. I was the marketer. I was the delivery person. I was everything except the security. "
" I went jumping on my bed until my sister would say, what's wrong with you? Have you won a lottery? "

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