CRMI Rewards University Innovators With ₦3m, Targets Stronger National Resilience

The Chartered Risk Management Institute of Nigeria (CRMI) has rewarded university students with ₦3 million in cash prizes for developing innovative approaches to addressing Nigeria’s challenges through strategic risk management.

Dominican University emerged winner of the institute’s maiden University Risk Management Pitching Essay Competition, receiving ₦1.5 million, while Covenant University and Ajayi Crowther University finished as first and second runners-up with ₦1 million and ₦500,000 respectively.

The competition formed part of activities marking CRMI’s 25th anniversary and was organised to encourage young Nigerians to embrace risk management as a tool for solving national problems and strengthening economic resilience.

In a statement signed by its President and Chairman of Council, Kevin Ugwuoke, FCRM, the institute said the initiative was aimed at integrating risk awareness, strategic thinking and problem-solving into Nigeria’s educational system.

Ugwuoke described the competition as a strategic investment in young people, particularly at a time the country is confronting economic reforms, technological disruptions and increasing global uncertainties.

He maintained that building a resilient Nigeria required a new generation of professionals capable of identifying emerging threats, anticipating uncertainty, making informed decisions and converting risks 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.

Students from Nigerian universities were challenged to identify critical national issues and develop practical and sustainable solutions using risk management principles.

According to the institute, finalists were evaluated on their knowledge of risk management, analytical depth, innovation, feasibility of proposed solutions, presentation skills and supporting evidence.

The final assessment featured live pitching sessions before industry professionals and other stakeholders, providing participants with an opportunity to demonstrate the practicality and potential impact of their proposals.

Beyond the financial rewards, CRMI announced automatic free membership of the institute for all participants, alongside certificates and access to professional development opportunities.

The institute also disclosed that eligible teams would have the opportunity to apply for the 2027 Spencer-RIMS Student Risk Management Challenge, an international competition that could see the top eight teams advance to RISKWORLD in New Orleans, United States.

The international opportunity is expected to expose participating students to global industry practices, professional networks and emerging developments in risk management.

CRMI said the initiative would help bridge the gap between academic learning and professional practice while preparing young Nigerians to contribute meaningfully to national development.

The institute expressed confidence that promoting risk management education among university students would encourage innovation, strengthen institutional capacity and support efforts to build a more resilient economy.