Barbara Bako, Abuja.
The Nigeria Sovereign Investment Authority (NSIA) has opened applications for the fourth edition of its Prize for Innovation (NPI 4.0), offering startups a combined prize pool of $275,000 and access to additional funding opportunities of up to $1.5 million.
The programme, themed “Building for Impact,” targets startups in the manufacturing, climate and food security, and healthcare sectors, with the aim of supporting innovative businesses capable of driving economic growth, creating jobs and addressing critical development challenges.
In a statement issued in Abuja, the spokesperson for NSIA, Joyce Onyegbula, said the initiative is designed to identify and support high-potential startups through funding, entrepreneurial training, mentorship and strategic partnerships.
She said the latest edition builds on the success of previous programmes, which have attracted more than 20,000 applications from startups across Nigeria’s six geopolitical zones, covering sectors such as fintech, agritech, health technology, education technology, transport and logistics.
According to Onyegbula, the 2026 edition introduces expanded opportunities for participating startups through partnerships with Cascador and Wema Bank.
The total prize pool comprises $220,000 from NSIA, $45,000 from Cascador and $10,000 from Wema Bank.
She added that winners would also have the opportunity to secure up to $1.5 million in funding through the Pula Xcelerator programme and compete for a share of N100 million in equity-free grants at the grand finale of the Wema Bank Hackaholics competition.
In addition, successful participants will undergo a fully funded entrepreneurship programme at the Enterprise Development Centre (EDC), Lagos, where they will receive training in business strategy, leadership, governance, financial management, market expansion and investor readiness.
Commenting on the initiative, the Managing Director and Chief Executive Officer of NSIA, Aminu Umar-Sadiq, said the programme is intended to help entrepreneurs transform innovative ideas into sustainable businesses.
“Across Nigeria, entrepreneurs are building solutions with the potential to transform industries, improve livelihoods, and address some of our most pressing development challenges.
“Through the NSIA Prize for Innovation, we are creating opportunities for these innovators to access the funding, training, mentorship, and strategic partnerships they need to scale their ideas into sustainable businesses.
“The enhancements introduced in NPI 4.0 reflect our continued commitment to support founders who are leveraging innovation to shape the future of Nigeria’s economy.”
Also speaking, Executive Director of Cascador, Trish Thomas, said the organisation remains committed to supporting innovative ventures capable of delivering social impact.
“As part of our commitment to supporting the growth of high-potential Nigerian ventures, we are awarding $45,000 in non-dilutive prize funding through ‘The Cascador Prize for Impact’.
“Cascador is proud to partner with NSIA again in 2026 to reward ground-breaking ideas that can change communities and lives for the better.”
NSIA said the programme has supported startups across sectors including financial inclusion, technology, agriculture, education and sustainable development over its first three editions by providing funding, mentorship, technical support and access to strategic networks.
The authority encouraged founders developing innovative products and technologies in the manufacturing, climate and food security, and healthcare sectors to apply for the programme as applications for the fourth edition commence.
Good production costs money and you can support what we do. Please find our details below👇🏾👇🏾👇🏾 Account name: MARKET ONLINE MEDIA Bank: UBA Acc No: 1026401930.
