The Federal Government has given ₦1 million each to 17 young Nigerian entrepreneurs under the Nigerian Youth Academy (NiYA) programme to support innovation and business growth.
Labour
The Minister of Youth Development, Dr. Ayodele Olawande, said the initiative shows the government’s commitment to helping young Nigerians develop skills and create businesses that can drive national development.
According to him, the Nigerian Youth Academy was created to equip young people with the knowledge, tools, and connections they need to succeed in today’s innovation-driven world.
Speaking at the NiYA Startup Pitch event, Olawande said the programme is not just a competition but a way to help young Nigerians turn their creative ideas into real and lasting impact.
“This is part of our effort to build a complete support system for youth — from learning to earning,” he explained. “With hard work and vision, these young people can create solutions that change communities and industries.”
The minister also reminded attendees that President Bola Tinubu launched the Nigerian Youth Academy to provide a national platform that encourages creativity and enterprise among young people.
He added, “When we combine government and private sector efforts, our youths can build thriving businesses and create jobs for others.
This is more than training — it’s about giving them a chance to put their skills to use.”
The Group CEO of Sapphital, Mr. Amu Ogbeide, praised the programme, saying NiYA gives every young Nigerian a fair chance to showcase and grow their ideas.
“We selected these young innovators based on merit. Our goal is to fund, mentor, and equip them with digital tools to succeed,” he said.
The Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr. Charles Odii, revealed that $25,000 (about ₦15–₦20 million) was set aside for the competition, with each winner getting ₦1 million.
He noted that the supported startups are in sectors like technology, logistics, and digital services, with high potential for growth and job creation.
“When you provide funding to small businesses, especially tech startups, you boost innovation, growth, and employment,” Odii said.
Also speaking, the Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, said empowering young entrepreneurs is a major step toward building a stronger nation.
“Young people are the future. Supporting them means investing in Nigeria’s progress,” he said.
Agama added that the programme would help youths understand business management, prepare for investment, and eventually grow to compete on global stages.
He concluded that such empowerment helps spread wealth, promote inclusion, and inspire a new generation of innovative Nigerian entrepreneurs.