The Chartered Risk Management Institute of Nigeria (CRMI) has awarded a total of ₦3 million to winners of its maiden University Risk Management Pitching Essay Competition, aimed at promoting youth innovation and strengthening national resilience.
The competition was organised as part of activities marking the institute’s 25th anniversary.
In a statement signed by its President and Chairman of Council, Kevin Ugwuoke, FCRM, the institute described the initiative as a strategic step towards integrating risk awareness and strategic thinking into Nigeria’s educational system.
Ugwuoke said the competition was particularly important at a time when the country was navigating economic reforms, technological advancements and growing global uncertainties.
He noted that building a resilient nation requires not only strong institutions and sound policies but also a generation of professionals equipped to anticipate risks, make informed decisions and turn challenges into opportunities for sustainable development.
The competition, themed “Building a Resilient Nigeria Through Strategic Risk Management,” was held on October 14 and 15 at the Oriental Hotel, Victoria Island, Lagos.
It brought together students from Nigerian universities to identify critical national challenges and develop practical and sustainable solutions using risk management principles.
According to CRMI, the initiative was designed to bridge the gap between academic learning and professional practice while preparing young Nigerians for emerging challenges in different sectors of the economy.
Finalists were assessed based on their understanding of risk management, depth of analysis, innovation, feasibility of proposed solutions, presentation skills and supporting evidence.
The assessment featured a live pitching session before industry professionals and other stakeholders.
At the end of the competition, Dominican University emerged overall winner, while Covenant University and Ajayi Crowther University finished as first and second runners-up, respectively.
The winning team received ₦1.5 million, while the first and second runners-up received ₦1 million and ₦500,000, respectively. The winners also received commemorative plaques.
Beyond the cash prizes, CRMI announced that all participants would receive certificates and automatic free membership of the institute, giving them access to professional development opportunities.
The institute also disclosed that eligible teams could apply for the 2027 Spencer-RIMS Student Risk Management Challenge, an international competition that offers the opportunity for the top eight teams to advance to RISKWORLD in New Orleans, United States.
The initiative underscores CRMI’s commitment to developing young talents, promoting professional risk management education and encouraging innovative solutions to challenges affecting Nigeria’s development.
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