FG Announces New ₦5m Funding Programme For Young Nigerian Entrepreneurs

The federal government has announced a new funding initiative through which selected young Nigerian entrepreneurs can receive up to ₦5 million in non-dilutive funding.

The programme, known as the NiYA × Cascador Founders Programme, is being implemented through a partnership between the Nigerian Youth Academy under the Federal Ministry of Youth Development and Cascador.

Minister of Youth Development, Ayodele Olawande, announced the initiative on Friday, saying it was designed to help young founders become investment-ready and gain access to funding.

Under the pilot scheme, selected early-stage entrepreneurs will undergo an intensive four-week programme focused on business fundamentals, investment readiness, pitch preparation and one-on-one mentorship.

At the end of the programme, top-performing founders will be eligible to receive up to ₦5 million each in non-dilutive funding from Cascador.

The beneficiaries will also receive an enterprise resource planning solution to help them structure, manage and scale their businesses.

Olawande said the initiative was designed to address the gap between entrepreneurial training and access to capital, particularly for young business owners who lack the financial history or networks traditionally required to secure investment.

“We do not want to stop at training. We want to build a stronger bridge from learning to enterprise, from ideas to investment readiness, and from potential to sustainable businesses,” the minister said.

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According to him, the partnership followed engagements between the ministry and Cascador, including a meeting he hosted on April 29.

Applications for the NiYA × Cascador Founders Programme will open on Wednesday, August 19, 2026.

Interested young Nigerian entrepreneurs are expected to apply through the Nigerian Youth Academy platform.

Applicants have been advised to monitor the platform for the official eligibility criteria, application form and submission guidelines once the application window opens.

The federal government clarified that the ₦5 million is not a guaranteed payment for every applicant.

Rather, the funding will be awarded to the top-performing founders selected through the programme.

Applications can be made through the Nigerian Youth Academy website when the portal opens on August 19.