By Tony Obiechina, Abuja
The Nigeria Sovereign Investment Authority (NSIA) has invited members of the public to participate in the fourth edition of its NSIA Prize for Innovation (NPI 4.0).
This will feature a combined prize value of $275,000, comprising $220,000 from ; $45,000 from Cascador, and $10,000 from Wema Bank, to reflect a shared commitment to empowering entrepreneurs and supporting the growth of innovative businesses capable of delivering meaningful impact.
The spokesperson of NSIA, Joyce Onyegbula, said in a statement at the weekend that the fully-funded entrepreneurial training unveiled recently will focus on the theme: ‘Building for Impact’.
The NSIA Prize for Innovation (NPI) is the flagship innovation and entrepreneurship development initiative of the NSIA designed to identify and support high-potential startups through funding, capacity building, mentorship, and strategic partnerships, enabling entrepreneurs to develop scalable solutions to some of the nation’s most critical challenges that contribute to economic growth, job creation, and sustainable development in Nigeria and across Africa.
The NSIA spokesperson said in a statement at the weekend that “Since inception, the NSIA Prize for Innovation has become one of Nigeria’s leading platforms for entrepreneurship development, innovation and ecosystem support.”
Continuing, Onyegbula said, “across its first three editions, the programme has attracted more than 20,000 applications from startups operating within key sectors, including fintech, aggrotech, health tech, edtech, transport and logistics, among others, with participation spanning all six geopolitical zones of the country.
“The success of the programme reflects the growing strength of Nigeria’s entrepreneurial ecosystem and the determination of Nigerian innovators to build solutions that improve lives, create jobs, strengthen industries, and contribute to national development”.
In line with NSIA’s commitment to support innovation in sectors critical to economic growth and sustainable development, the NSIA Spokesperson said ” NPI 4.0 would focus on startups operating within Manufacturing, Climate and Food Security, and Healthcare”.
Through this targeted approach, she said the programme seeks to empower founders whose solutions can strengthen productive capacity, improve health outcomes, enhance food systems, promote environmental sustainability, and advance climate resilient solutions.
She said the programme also revalidates NSIA’s focus on repositioning Nigerian innovators for enhanced relevance.
Building on the success of previous editions, the NSIA spokesperson said NPI 4.0 introduces significant enhancements through strategic partnerships and expanded opportunities for participating startups.
This year’s enhanced edition, she noted would feature a combined prize value of $275,000, comprising $220,000 from ; $45,000 from Cascador, and $10,000 from Wema Bank, to reflect a shared commitment to empowering entrepreneurs and supporting the growth of innovative businesses capable of delivering meaningful impact.
Beyond the prize pool, Onyegbula explained that NPI 4.0 has been designed as a comprehensive growth platform to identify and nurture Nigerian innovators by unlocking access to capital, capacity enhancement, mentorship and strategic networks required to transform innovative solutions to scalable businesses.
“A major highlight of this year’s programme is the opportunity for winners to secure up to $1.5 million in funding through Pula Xcelerator, providing access to the growth capital required to accelerate expansion, strengthen operations, and scale impact,” she disclosed.
In addition, she said winners would stand a chance to participate in the Grand Finale of the Wema Bank Hackaholics, where they can compete for a share of N100 million in equity-free grants, creating further opportunities to access funding, visibility, strategic partnerships, and market exposure.
Besides, she said the winners would also benefit from a fully-funded programme at the Enterprise Development Centre (EDC), Lagos, where they would receive practical training in business strategy, leadership, governance, financial management, market expansion, and investor readiness.
The programme, she noted, is designed to equip founders with the skills and capabilities required to build resilient, investment-ready, and high-growth enterprises.
READ ALSO:
- Tinubu appoints Special Adviser on National Assembly – Reps
- WAFCON 2026: Algeria cruise past Senegal to win tournament opener
- Adeleke, Accord Party stakeholders endorse Tinubu for 2027
- Polytechnic suspends six lecturers over sexual harassment, cultism
- How NDLEA arrested Lagos trader over cocaine hidden in food cartons bound for UK
