FG Launches N75m Innovation Challenge for Young Inventors

FG Launches N75m Innovation Challenge for Young Inventors
Yazid explained that the challenge seeks to discover and nurture local innovations.
The National Bureau of Statistics recently reported that Nigeria’s unemployment rate stood at 4.3 percent

The federal government, through the National Agency for Science and Engineering Infrastructure (NASENI), has introduced a N75 million innovation challenge aimed at helping young inventors turn their ideas into viable businesses while addressing youth unemployment in Nigeria.

Eko Hot Blog reports that the initiative was launched in partnership with AfriLabs, was unveiled on Thursday at the GITEX Nigeria Startup Festival in Lagos.

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Speaking at the event, Anas Balarabe Yazid, Special Adviser on Commercialisation to the Executive Vice Chairman of NASENI, explained that the challenge seeks to discover and nurture local innovations.

“The initiative is designed to find, fund, and fast track the best homegrown products into solutions that work locally and can scale globally,” he said.

Yazid urged young innovators to seize the opportunity, stressing that submissions do not have to be flawless.

“If you have built something that works, even if it is still rough around the edges, this stage is for you,” he added.

According to him, the competition will shortlist five innovations from each state and the Federal Capital Territory. Members of the public will then vote for state winners, who will proceed to pitch their ideas at the NASENI Invention Festival.

Beyond cash prizes, winners will gain access to NASENI’s Innovation Hub in Abuja, where they will receive support with technical resources, laboratories, and manufacturing facilities.

Emphasising the need for state-level involvement, Yazid said governors and the FCT minister have been invited to complement NASENI’s efforts.

“The seed planted here can grow right at home,” he said, calling on states to provide matching support for their winners.

On the vision behind the project, he added: “Build here, sell to the world. Innovation lives in every local government area, let’s give it a lift. With the right support, Nigerian ingenuity becomes Nigerian industry.”

The National Bureau of Statistics recently reported that Nigeria’s unemployment rate stood at 4.3 percent in the second quarter of 2024, though the latest figures have yet to be released.

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