The Abuja Investment Company Limited (AICL) has strengthened its youth entrepreneurship drive by awarding N9.75 million to nine innovative startups at the 2026 Abuja Young Entrepreneurs’ Hunt in Abuja on Tuesday, 21 July 2026.
The initiative recognised emerging businesses in information and communications technology (ICT), creative industries and agribusiness while providing winners with opportunities for mentorship and investment connections.
Also read: AICL launches Abuja Investment Summit 2026 with strategic MoUs planned
The programme, organised in partnership with the Abuja Enterprise Agency (AEA), rewarded three winners from each sector with cash prizes of N1.5 million, N1 million and N750,000 to support business expansion and sustainability.
Speaking at the event, AICL Group Managing Director and Chief Executive Officer Maureen Tamuno said the competition was designed to offer more than financial support by helping entrepreneurs gain visibility, business knowledge and access to potential investors.
“The level of training and mentorship they receive from professionals during the programme goes far beyond the competition itself. It gives them ideas on visibility, expansion and sustainability,” Tamuno said.
She explained that AICL maintains relationships with previous participants through mentors and partner organisations that continue to provide guidance after the competition.
“We have mechanisms in place to follow up with them. That is why previous winners return every year to share their success stories and inspire new participants,” she added.
Tamuno said this year’s winners would also have the opportunity to present their businesses before investors and business leaders at the upcoming Abuja Business and Investment Expo 3.0, scheduled for 5 to 7 August.
She encouraged private organisations, philanthropists and development partners to collaborate with AICL and AEA to expand support for youth-led businesses, noting that access to finance and infrastructure remain key challenges for entrepreneurs.
According to Tamuno, renewable energy solutions are increasingly helping small businesses reduce operating costs caused by unreliable electricity supply.
“We now have renewable energy solutions that are helping businesses reduce dependence on the national grid. One of our markets operates entirely on green energy, and we encourage entrepreneurs to take advantage of these opportunities,” she said.
She also urged Nigerians to remain confident in the country’s economic potential, stressing that sustainable growth requires cooperation between government, investors and citizens.
“No country started instantly and everything started working. Countries grow and evolve. Nigeria is evolving, we are advancing,” Tamuno said.
Acting Managing Director of the Abuja Enterprise Agency, Chudi Ugwuada-Ezirigwe, described young entrepreneurs as critical to Nigeria’s future, saying the competition was created to support businesses capable of generating jobs and addressing social challenges.
He said ICT, creative industries and agribusiness were selected because of their growth potential, adding that future editions would expand to include more sectors.
“The journey of a million miles begins with one step. We started with these sectors, but we intend to expand as more innovative business ideas emerge,” Ugwuada-Ezirigwe said.
Chairman of the judging panel and economist Paul Alaje said the selection process considered innovation, sustainability, financial viability, scalability and employment potential.
He said empowering entrepreneurs was essential to tackling unemployment, poverty and inflation.
“Our government will formulate policies, but citizens must apply those policies to create value. These businesses will generate employment, reduce imports, promote exports and contribute to economic growth,” Alaje said.
Among the recognised entrepreneurs was Plastic Abdullahi Suleiman, winner of the creative category, whose business transforms plastic waste and sand into durable interlocking paving stones without cement.
Suleiman said the idea was developed in response to Nigeria’s plastic pollution challenge and infrastructure needs.
“We are turning plastic waste into stronger, more affordable interlocks. We believe this innovation can help solve both environmental pollution and road construction challenges,” he said.
ICT category winner Ridwanllah Adeleke, founder and Chief Executive Officer of Cyber Vigil, said the award validated his company’s cybersecurity solutions aimed at identifying weaknesses in digital systems.
He called for stronger partnerships between government agencies and local cybersecurity firms to protect critical infrastructure from cyber threats.
Creative category first runner-up Pamela Azeminor said she planned to use the prize money to purchase equipment for her fashion training academy, noting that funding remains one of the biggest barriers for young entrepreneurs.
Also read: AICL launches Abuja Investment Summit 2026 with strategic MoUs planned
The Abuja Young Entrepreneurs’ Hunt is part of AICL’s broader effort to strengthen the startup ecosystem in the Federal Capital Territory and promote entrepreneurship as a driver of innovation, job creation and inclusive economic growth.
David Okere is a journalist and contributor to Freelanews.com, covering business, governance, public affairs, and human-interest stories with a commitment to accuracy, balance, and public interest reporting.
