The Federal Government has rolled out a ₦75 million innovation challenge designed to empower young Nigerian inventors and tackle unemployment across the country.

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

According to Anas Balarabe Yazid, Special Adviser on Commercialisation to NASENI’s Executive Vice-Chairman, the challenge aims to turn local ideas into thriving businesses that can compete on the global stage.

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

Yazid urged young innovators not to hesitate in applying, noting that ideas don’t have to be perfect before submission.

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

The competition will select five innovations per state and the FCT, after which the public will vote for state winners. Finalists will then showcase their ideas at the NASENI Invention Festival.

Winners will not only receive cash prizes but also gain access to NASENI’s Innovation Hub in Abuja, which offers laboratories, technical support, and manufacturing facilities to scale their projects.

Yazid also called on state governors and the FCT Minister to provide complementary support for their winners.

“Build here, sell to the world. Innovation lives in every LGA — let’s give it a lift. With the right support, Nigerian ingenuity becomes Nigerian industry,” he added.

Nigeria’s unemployment rate stood at 4.3% in Q2 2024, according to the National Bureau of Statistics, though updated figures are yet to be released.

The new initiative seeks to reduce this number by creating opportunities for young Nigerians to innovate, build, and thrive at home.