The Federal Government, through the Nigerian Youth Academy (NiYA), has partnered with entrepreneurship support organisation Cascador to provide ₦49 million in growth funding to 17 young Nigerian entrepreneurs.
The beneficiaries emerged from the NiYA-Cascador Founders Programme, a four-week accelerator initiative that attracted more than 19,000 applications from young entrepreneurs across the country.
At the programme’s final pitch and grant award ceremony, held at the Afreximbank African Trade Centre in Abuja, eight founders received ₦5 million each, while nine others were awarded ₦1 million apiece to support the growth of their businesses.
The eight major beneficiaries are Andrew Ogbeh of SewPro; Patrick Ifeanyi Chukwu of Biuda; Ameedat Eniola Olaniyan of Sparklean Station Nigeria Limited; Favour Ngozi Nnadi of Backel Food Services Limited; Khuzaifa Aminu of Shellify; Ayisat Adama Adamu of Rèkool Access Technology; Godslove Emmanuel Asuquo of Agrosavvy Consult; and Kabir Olaosebikan of Craft Planet.
The other nine beneficiaries are Eeshas Cake and Foods, Zannytecture Recycling, UpSmart Energies, ParaLearn, Drych Digital, Agro-Chill Solutions, Sol-Uniq Green Resources, Bidvans and TrashGo.
The businesses operate across several sectors, offering solutions to challenges involving post-harvest losses, food processing, waste management, vaccine cold-chain logistics, clean energy and digital education.
The funding is non-dilutive, meaning beneficiaries will not be required to surrender equity or ownership stakes in their businesses in exchange for the financial support.
Speaking at the ceremony, Minister of Youth Development Ayodele Olawande said Nigeria had considerable entrepreneurial talent among its young population but needed to create more opportunities for innovative ideas to become viable businesses.
He said the partnership between the ministry, NiYA and Cascador was designed to bridge the gap between skills acquisition, access to finance and enterprise development, helping young Nigerians become business owners and job creators.
Launched in August as a pilot initiative involving 20 early-stage founders, the programme’s selection process produced 17 participants from 13 states across the six geopolitical zones.
Beyond the financial support, participants received business development training, mentorship and practical guidance on investment readiness, sales, customer service and business operations.
The programme also featured sessions facilitated by government institutions, including the National Information Technology Development Agency (NITDA), Nigeria Data Protection Commission (NDPC), Standards Organisation of Nigeria (SON), Corporate Affairs Commission (CAC), National Agency for Food and Drug Administration and Control (NAFDAC), and Nigeria Revenue Service.
The sessions were designed to help participating businesses understand regulatory requirements, improve compliance and establish operational structures needed to compete in the formal economy.
All 17 beneficiaries will also receive one year of complimentary access to SMECore, an enterprise resource planning platform developed by Sapphital Limited, the programme’s implementation partner.
The platform provides tools for financial management, accounting, inventory monitoring, sales, customer relationship management and business performance reporting.
Chief Executive Officer of Cascador, Trish Thomas, said the partnership reflected a shared commitment to providing young Nigerian entrepreneurs with the capital and practical support needed to build sustainable businesses.
She expressed optimism that the eight major grant recipients would use the funding to expand their operations and create jobs in their communities.
One of the beneficiaries, Kabir Olaosebikan, founder of Craft Planet, said the programme had given his business a stronger foundation and the confidence to pursue its growth ambitions.
He said the funding and access to the enterprise management platform would help the company advance its sustainable plastic waste solutions and create jobs as it expands.
The initiative also forms part of NiYA’s broader ambition to train and empower seven million Nigerian youths within two years. Its long-term impact will depend partly on the programme’s ability to extend support beyond individual cohorts and connect more young entrepreneurs with sustainable sources of finance.
All 17 participants will retain their NiYA alumni status, giving them continued access to the academy’s learning, networking and entrepreneurship opportunities.
