FG Awards ₦49 Million to 17 Young Nigerian Entrepreneurs After Over 19,000 Applications

The Federal Government has awarded ₦49 million in business grants to 17 young Nigerian entrepreneurs selected from more than 19,000 applicants under a youth enterprise development programme.

The initiative was organized by the Federal Ministry of Youth Development through the Nigerian Youth Academy, in partnership with Cascador.

According to the report, eight successful businesses will receive ₦5 million each, while the remaining nine will receive ₦1 million apiece.

The grants are non-dilutive, meaning beneficiaries will not be required to surrender ownership shares in their businesses in exchange for the funding.

The selected entrepreneurs emerged after participating in a four-week business accelerator programme designed to strengthen their business management skills and prepare them for growth.

Their businesses operate in different sectors, including agriculture, food processing, recycling, clean energy and digital education.

Some of the beneficiaries are developing solutions to problems such as food waste, waste management, malnutrition and agricultural productivity.

The Minister of Youth Development, Ayodele Olawande, explained that the programme was designed to provide young Nigerians with the funding, knowledge and support needed to transform business ideas into sustainable enterprises.

He also encouraged young people to look beyond seeking employment and consider entrepreneurship as an opportunity to create jobs and contribute to national development.

All 17 beneficiaries will additionally receive enterprise resource planning software to support their business operations.

The programme forms part of the Nigerian Youth Academy’s ambition to train and empower seven million young Nigerians within two years.

The initiative highlights the importance of supporting young entrepreneurs as Nigeria seeks to expand employment opportunities and strengthen its economy.

Source: Punch Newspapers, November 11, 2026.

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