By Franca Ofili
The Federal Ministry of Youth Development, through the Nigerian Youth Academy (NiYA), in partnership with Cascador, will provide five million Naira each in non-dilutive funding to expand entrepreneurial opportunities for eight youth founders.
Mrs Omolara Esan, Director, Information and Public Relations Department in the ministry disclosed this in a statement issued in Abuja on Friday.
Esan said that the partnership would help young entrepreneurs develop investment-ready businesses and gain access to capital for sustainable enterprise growth.
According to her, the initiative was announced as part of activities marking the 2026 International Youth Day, themed “Different Contexts, Common Aspirations”.
She quoted the minister, Mr Ayodele Olawande, as saying that the initiative demonstrates government’s commitment to extending youth empowerment beyond training.
According to her, Olawande said the programme would provide practical opportunities for entrepreneurship, enterprise development and access to finance.
The minister also said that the training was only part of the journey, stressing the need to help youths move from learning to building sustainable enterprises.
He also said the partnership would combine business preparation with capital access for founders lacking formal structures or financial histories.
“The NiYA-Cascador Founders Programme will begin with a pilot cohort of 20 early-stage Nigerian youth entrepreneurs.
“The participants will undergo an intensive four-week programme covering business fundamentals, investment readiness and pitch preparation.
‘They will also participate in virtual engagements and receive one-on-one mentorship from experienced professionals.
“At the programme’s conclusion, eight top-performing founders will each receive up to five million Naira in non-dilutive funding from Cascador,” he said.
Olawande also said that the beneficiaries would receive enterprise resource planning solutions to help structure, manage and scale their businesses.
He added that the programme would end with a Pitch Day where participants would present their businesses before a panel of judges.
He also noted that that the pilot supports NiYA’s broader ambition of training and empowering seven million Nigerian youths within two years.
The minister said the programme would create stronger links between youth skills development, entrepreneurship, business growth and access to finance and that the pilot was designed to test a model capable of supporting more cohorts beyond the initial participants.
According to the statement, Olawande said that identifying young founders early and connecting them with credible capital could make opportunities less dependent on background or existing networks.
“The broader objective is to establish an entrepreneurship ecosystem where readiness, ideas and execution increasingly determine access to growth opportunities.
“Under the partnership, the ministry and NiYA will oversee participant sourcing, training and daily programme delivery.
“Cascador will support eligibility criteria, investment-readiness preparation, pitch judging and funding for top-performing participants,” the minister said.
The statement also quoted the Cascador Chief Eexcutive Officer, Trish Thomas, as saying that the initiative would create a practical bridge between the ideation stage and access to capital.
Cascador Chief Operating Officer, Oyin Solebo, described the partnership as an innovative approach to deploying capital while strengthening investment readiness among young entrepreneurs.
“The programme will be delivered physically in Abuja, alongside virtual engagements and one-on-one mentorship sessions.
“All 20 successful participants will retain NiYA alumni status and receive priority consideration for relevant future opportunities.
“Applications will open on August 19, with interested entrepreneurs directed to NiYA’s website for eligibility and application details,” Solebo said.
The News Agency of Nigeria (NAN) reports that NiYA is a digital empowerment platform inaugurated by the federal government in 2025, aims at training young Nigerians in high-demand technical, vocational, and digital skills under the “One Youth, Two Skills” initiative.(NAN)(www.nannews.ng)
Edited by Folasade Akpan