Eight young Nigerian entrepreneurs have secured ₦5 million each in non-dilutive funding through a partnership between the Federal Ministry of Youth Development (FMYD), the Nigerian Youth Academy (NiYA) and Cascador.

The funding was announced at the NiYA-Cascador Founders Programme Pitch Day, held in Abuja on November 10, 2026, bringing a pilot initiative aimed at helping young entrepreneurs develop investment-ready businesses and access capital to a close.

The programme recorded more than 19,000 applications following its launch in August. From the applicants, 17 founders representing 13 states across Nigeria’s six geopolitical zones were selected to participate.

The selected businesses are developing solutions to challenges across several sectors, including post-harvest losses, malnutrition, waste management, vaccine cold chains, clean energy and digital education.

The eight entrepreneurs who emerged as Pitch Day winners are Andrew Ogbeh of SewPro; Ameedat Eniola Olaniyan of Sparklean Station Nigeria Limited; Khuzaifa Aminu of Shellify; Patrick Ifeanyi Chukwu of Biuda; Favour Ngozi Nnadi of Backel Food Services Limited; Ayisat Adama Adamu of Rè kool Access Technology; Godslove Emmanuel Asuquo of Agrosavvy Consult; and Kabir Olaosebikan of Craft Planet.

The financial support will extend beyond the eight winners. Cascador will also provide the remaining nine programme participants with ₦1 million each in non-dilutive growth capital.

In addition to the funding, all 17 entrepreneurs will receive an Enterprise Resource Planning (ERP) solution to strengthen their business management processes and support their next phase of development.

The four-week accelerator was delivered by Sapphital Limited, the Federal Ministry of Youth Development’s official technical partner. The programme combined practical business training with institutional support to improve the operational capacity of participating enterprises.

Its training sessions covered sales improvement and customer service, while participants gained access to SMECcore, an all-in-one ERP platform developed by Sapphital to help businesses manage their operations.

The founders also received guidance on data protection, product standards, regulatory compliance and investment readiness. Pitch preparation sessions were included to equip participants with the skills needed to attract potential investors and secure business funding.

Several government institutions contributed technical and regulatory expertise throughout the programme. These included NEXIM Bank, Nigeria Revenue Service (NRS), Nigeria Data Protection Commission (NDPC), Securities and Exchange Commission (SEC), National Information Technology Development Agency (NITDA), Standards Organisation of Nigeria (SON), National Agency for Food and Drug Administration and Control (NAFDAC), Corporate Affairs Commission (CAC) and National Agency for Science and Engineering Infrastructure (NASENI).

Speaking about the initiative, Minister of Youth Development Ayodele Olawande explained that the partnership was established to address the gap between skills acquisition, access to funding and enterprise development among young Nigerians.

He added that the programme supports President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises empowering young people to establish sustainable businesses, generate employment and contribute to national economic growth.

The ministry also disclosed that the Nigerian Youth Academy is pursuing a wider objective of training and empowering seven million Nigerian youths within two years.

Cascador Chief Executive Officer Trish Thomas described the selection of eight entrepreneurs for funding as an encouraging result for the pilot initiative.

She expressed optimism about the businesses’ prospects, noting that Cascador looks forward to seeing the beneficiaries deploy the financial support to expand their operations and create employment opportunities.

Beyond the accelerator, all 17 graduates will retain their Nigerian Youth Academy alumni status. They will also receive priority consideration for future opportunities, ensuring continued access to the academy’s network and support beyond the programme.

SOURCE: MSME Africa Online