Nigerian entrepreneurs win ₦5M grants to scale businesses
Eight young Nigerian entrepreneurs have each received ₦5 million in non-dilutive funding to scale their businesses, following the Nigerian Youth Academy (NiYA) & Cascador Founders Programme Pitch Day in Abuja. The awards mark the conclusion of a pilot initiative by the Federal Ministry of Youth Development (FMYD), designed to connect founders with capital and operational support.
The programme began with a call for applications on International Youth Day in August, attracting over 19,000 submissions from entrepreneurs across Nigeria. From this pool, 17 founders from 13 states were selected, each addressing challenges like post-harvest losses, malnutrition, vaccine cold chains, clean energy, and digital education.
Over four weeks, participants received hands-on training in sales, customer service, and business management using SMECore, an all-in-one Enterprise Resource Planning (ERP) platform developed by Sapphital, the technical partner for FMYD. Sessions also covered data protection, regulatory compliance, and pitch preparation, with direct support from agencies like the Nigeria Revenue Service (NRS), Securities and Exchange Commission (SEC), and Standards Organisation of Nigeria (SON).
- Andrew Ogbeh, SewPro
- Patrick Ifeanyi Chukwu, Biuda
- Ameedat Eniola Olaniyan, Sparklean Station Nigeria Limited
- Favour Ngozi Nnadi, Backel Food Services Limited
- Khuzaifa Aminu, Shellify
- Ayisat Adama Adamu, Rèkool Access Technology
- Godslove Emmanuel Asuquo, Agrosavvy Consult
- Kabir Olaosebikan, Craft Planet
The remaining nine founders each received ₦1 million in growth capital. All participants will also gain access to the SMECore ERP platform to streamline operations. The programme reflects a broader push by FMYD to train and empower 7 million Nigerian youth within two years under President Bola Ahmed Tinubu’s Renewed Hope Agenda.
The initiative highlights how government-backed enterprise development can align with private-sector funding to support young founders. Trish Thomas, CEO of Cascador, noted that the pilot demonstrates a model for scaling such partnerships, while Ayodele Olawande, Minister of Youth Development, emphasized the need to translate ambition into sustainable businesses.
Kabir Olaosebikan of Craft Planet, one of the top winners, said the funding and ERP tools would help expand his plastic waste solutions while creating local jobs. The programme’s success suggests a replicable framework for bridging gaps between youth entrepreneurship and institutional support.
