FG Unveils ₦75m Innovation Challenge to Boost Youth Inventions, Tackle Unemployment

|By Adejumo Adekunle

The Federal Government has rolled out a ₦75 million innovation challenge to spur young Nigerian inventors into transforming their ideas into viable enterprises and reducing youth unemployment.

The initiative, spearheaded by the National Agency for Science and Engineering Infrastructure (NASENI) in partnership with AfriLabs, was unveiled on Thursday at the GITEX Nigeria Startup Festival in Lagos.

Announcing the programme, Anas Balarabe Yazid, Special Adviser on Commercialisation to NASENI’s Executive Vice-Chairman, said the scheme is designed to identify and scale homegrown solutions.

“The initiative will find, fund, and fast-track the best local products into solutions that can work here and scale globally,” Yazid stated.

He urged innovators to seize the opportunity, stressing that entries do not need to be flawless.

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

The challenge will shortlist five innovations from each state and the FCT. The public will vote for winners at the state level, after which finalists will pitch at the NASENI Invention Festival in Abuja. Victors will not only receive cash prizes but also access to NASENI’s Innovation Hub, equipped with technical support, laboratories, and manufacturing facilities.

Yazid further called on state governors and the FCT Minister to complement the federal government’s efforts with additional support.

“The seed planted here can grow right at home. Build here, sell to the world. Innovation lives in every LGA — let’s give it a lift,” he said.

The initiative comes as Nigeria grapples with job creation challenges. According to the National Bureau of Statistics, the country’s unemployment rate stood at 4.3 per cent in the second quarter of 2024, with fresh figures yet to be released.