The Nigeria Sovereign Investment Authority (NSIA) has announced the winners of its fourth NSIA Prize for Innovation, awarding a combined $275,000 in prizes to Nigerian startups developing solutions in food processing, climate and food security, and healthcare.
Come Again Foods, a manufacturer of packaged snacks using locally sourced agricultural commodities, emerged the overall winner at the NPI 4.0 Demo Day, themed “Building for Impact.” The event brought together 12 finalists selected from more than 6,000 applications.
Come Again Foods received a combined prize package valued at $100,000, comprising the main NSIA award and a $5,000 Cascador Impact Prize.
Protein Kapital, which produces protein and biofertilisers through insect farming and organic waste processing, placed second, receiving $70,000. Instant Rad Inc., an artificial intelligence enabled teleradiology platform connecting hospitals and diagnostic centres with radiologists across Africa, came third with $50,000.
The total prize pool comprised $220,000 from NSIA, $45,000 from entrepreneurship development organisation Cascador and $10,000 from Wema Bank.
Additional awards went to other participating businesses. Eight Medical and Uwana Energy received $15,000 each in Cascador cash prizes, while Sambal Enterprises, Come Again Foods and Ebees Green received $5,000 each under Cascador’s impact awards. Eight Medical, Smartel Agri Tech and Tryctor also received $4,000 each from Wema Bank.
The competition focused on manufacturing, climate and food security, and healthcare, areas NSIA identified as important to Nigeria’s economic growth, resilience and sustainable development.
Speaking at the event, NSIA Managing Director and Chief Executive Officer Aminu Umar-Sadiq said the quality of the solutions demonstrated the depth of entrepreneurial talent in the country.
He said the programme was designed not only to recognise promising ideas but also to help entrepreneurs access the funding, expertise, networks and partnerships needed to build sustainable businesses.
Beyond the prize money, eligible startups will have the opportunity to access up to $1.5 million in growth capital through the Pula Xcelerator programme. Winners will also benefit from a fully funded entrepreneurial development programme at the Enterprise Development Centre in Lagos.
The training will cover business strategy, leadership, governance, financial management, market expansion and investor readiness, with the aim of helping the businesses strengthen their operations and prepare for growth.
Minister of Finance and Coordinating Minister of the Economy Taiwo Oyedele, represented at the event by his investment adviser, highlighted the contribution of small and medium sized enterprises to employment and economic activity.
He said Nigeria’s ambition to build a trillion dollar economy would depend partly on helping small businesses expand into larger, competitive enterprises. He urged the finalists to measure success by the businesses they build after the competition, rather than by the awards alone.
The fourth edition builds on a programme that attracted more than 20,000 applications across its first three editions, from startups spanning Nigeria’s six geopolitical zones and sectors including financial technology, agriculture, healthcare, education and logistics.
Through the innovation prize, NSIA and its partners aim to strengthen Nigerian entrepreneurship by combining funding with business development support and pathways to further investment. The programme seeks to help promising ventures move from early stage ideas to sustainable operations, job creation and wider market access.
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