Apply: How to Benefit from Federal Government’s N5 Million Initiative for Young Entrepreneurs
- The federal ministry of youth development announced the NiYA × Cascador Founders Programme, a new initiative targeting early-stage Nigerian entrepreneurs
- Selected founders will go through a four-week intensive programme covering business fundamentals, pitch preparation and one-on-one mentorship
- Applications for the programme open on Wednesday, August 19, 2026, through the Nigerian Youth Academy website
PAY ATTENTION: Find it fast with our new search feature at Legit.ng!
FCT, Abuja - The federal government has launched a new funding initiative that could put up to N5 million into the hands of young Nigerian entrepreneurs, with applications opening on Wednesday, August 19, 2026.
Legit.ng reports that the programme, called the NiYA × Cascador Founders Programme, is a partnership between the Nigerian Youth Academy, which operates under the federal ministry of youth development, and private firm Cascador. Minister of Youth Development Ayodele Olawande confirmed it via the ministry's X (formerly Twitter) handle on Friday, August 14, 2026.
Source: Twitter
Top founders to receive N5m funding
Shortlisted applicants will join a four-week intensive programme covering business fundamentals, investment readiness, pitch preparation and one-on-one mentorship, according to Business Day.
Only the top-performing founders at the end of the cohort will receive the non-dilutive funding of up to N5 million each from Cascador, meaning successful recipients will not surrender any equity in their businesses in exchange for the money.
Beneficiaries will also receive an Enterprise Resource Planning (ERP) solution to help them manage and grow their operations.
Olawande said the initiative was designed to address a gap that has long held back young founders: the distance between training and actual capital. Many early-stage entrepreneurs in Nigeria lack the financial records or professional networks typically required to attract investors.
The Punch quoted the minister as saying:
"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."
NiYA × Cascador programme: How to apply
The minister stated that the collaboration grew out of direct engagements between his ministry and Cascador, including a meeting he hosted earlier in 2026. He described the initiative as proof that such conversations can produce concrete results for Nigerian youth.
Applications open on Wednesday, August 19, 2026, through the Nigerian Youth Academy website at niya.gov.ng. Prospective applicants should monitor the platform from that date for the official eligibility criteria, the application form and submission guidelines.
It is important to note that the N5 million funding is not guaranteed to every applicant. Only founders who complete the programme and rank among the top performers will be considered for the grant.
Apply here for the NiYA × Cascador Founders Programme from August 19, 2026.
Read the federal ministry of youth development's full statement on the new opportunity below via X:
Read more on federal government of Nigeria
- FG targets 2 million farmers with fertiliser support, guarantee minimum price
- Federal government arraigns suspects over Oyo schoolchildren, teachers’ abduction, releases photos
- FG releases NCEE results, 10 candidates emerge overall best
FG opens portal for interest-free loans
Earlier, Legit.ng reported that the Nigerian government is providing interest-free loans to 22,000 eligible farmers for improved agricultural productivity.
Farmers can secure up to N300,000 without collateral through FarmerMoni, which promotes economic stability in rural areas of the country.
Farmers can secure up to N300,000 without collateral through FarmerMoni, which promotes economic stability in rural areas of the country.
Source: Legit.ng
