CRMI Bets ₦3m on Youth Innovation to Drive National Resilience

The Chartered Risk Management Institute of Nigeria (CRMI) has placed youth innovation at the heart of national development with its maiden University Risk Management Pitching Essay Competition, held as part of its 25th anniversary celebrations.

This is contained in a statement signed by the president and Chairman of Council, Kevin Ugwuoke, FCRM.

Ugwuoke noted that the maiden competition is a strategic step towards embedding risk awareness and strategic thinking in Nigeria’s educational system at a time of economic reforms, technological advancement and global uncertainties.

According to him, building a resilient Nigeria requires not only strong institutions and sound policies but also a new generation of professionals capable of anticipating uncertainty, making informed decisions, and transforming risks into opportunities for sustainable national development.

The competition, themed “Building a Resilient Nigeria Through Strategic Risk Management,” took place on October 14 and 15 at the Oriental Hotel, Victoria Island, Lagos, and challenged students from Nigerian universities to identify critical national challenges and propose practical, sustainable solutions using risk management principles.

According to the Institute, the initiative is aimed at bridging academia and professional practice while nurturing a new generation of professionals capable of anticipating uncertainty and transforming risks into opportunities.

Finalists were assessed on their understanding of risk management, depth of analysis, innovation, feasibility, presentation, and evidence, with a live pitching session before industry professionals and stakeholders.

At the end of the contest, Dominican University emerged overall winner, while Covenant University and Ajayi Crowther University clinched first and second runner-up positions respectively.

Winners received ₦1.5 million, ₦1 million, and ₦500,000 for first, second and third places, alongside plaques.

All participants will also receive certificates and automatic free membership of CRMI, granting them access to professional development opportunities.

In a major international boost, eligible teams can also apply for the 2027 Spencer-RIMS Student Risk Management Challenge, with the top eight teams advancing to RISKWORLD in New Orleans, USA.