The Minister of Youth Development, Dr. Ayodele Olawande, has reaffirmed the Federal Government’s commitment to empowering young Nigerians through innovation, skills development, and entrepreneurship, as 17 promising startups received ₦1 million each under the Nigerian Youth Academy (NiYA) initiative.
Dr. Olawande explained that the Nigerian Youth Academy is a Federal Government programme designed to equip young Nigerians with the skills, tools, and networks needed to thrive in today’s innovation-driven economy.
Speaking at the event, the minister described the NiYA Startup Pitch as “more than a competition,” stressing that it reflects what happens when young Nigerians are allowed to turn creativity into sustainable impact.
“This event is part of our NiYA journey to support youth innovation, entrepreneurship, and national development. Through NiYA Gigs, NiYA Jobs, NiYA Academy, and now NiYA Startup, we are creating a complete ecosystem that supports youth — from learning and training to making money and scaling their businesses,” he said.
He urged the beneficiaries to see the opportunity as the beginning of a larger journey, noting that with vision and determination, young Nigerians can build solutions that transform communities and industries.
Dr. Olawande also recalled that the launch of the Nigerian Youth Academy by President Bola Ahmed Tinubu marked the start of a holistic national framework to nurture youth creativity and enterprise.
“If we support our youth through government and private sector collaboration, in one year, many will have thriving businesses and become employers of labour. This is not only about training; it is about creating a pathway for young people to apply what they learn,” he added.
In his remarks, the Group Chief Executive Officer and Co-founder of Sapphital, Mr. Amu Ogbeide, commended the initiative, noting that NiYA provides a transparent and inclusive platform for young innovators to showcase their ideas.
“We went out there, not knowing anybody, and picked young Nigerians to support. We want to fund their businesses, mentor them, and equip them with the digital tools they need to thrive,” Ogbeide said.
“Ideas are never scarce in this country — what we need is to help those ideas grow and be executed. One idea can make an impact that transforms the economy.”
Also speaking, the Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr. Charles Odii, revealed that $25,000 (approximately ₦15–₦20 million) was earmarked for the competition, with each winner receiving ₦1 million.
“This project had a total funding pool of about $25,000. The winners today each received ₦1 million across various categories of entrepreneurship. I am confident that once this capital is injected into their businesses, we will begin to see measurable growth and expansion,” he said.
Odii explained that many of the winning startups operate in sectors such as technology, logistics, digital services, and lifestyle innovation, with strong potential for scalability and employment generation.
He noted, “Capital is expensive and scarce. But when you inject funding like this into small businesses, especially tech-enabled ones, you stimulate growth, innovation, and employment.”
The Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, also commended the empowerment programme, describing it as a critical investment in national development.
“The empowerment is so significant because youths are the future of this nation. If you are able to build them, you are building the nation. Catching them young means fertilizing growth that can transform society,” he said.
Agama added that the initiative would help young entrepreneurs understand business structure, governance, and investment readiness — preparing them to scale their enterprises and eventually list on public markets.
He said supporting youth-led startups would democratize wealth creation, foster inclusion, and inspire a new generation of Nigerian entrepreneurs capable of building globally competitive brands.
