CRMI rewards varsity students with N3m for risk management solutions

The Chartered Risk Management Institute of Nigeria (CRMI) has rewarded university students with N3 million for innovative solutions to national challenges through strategic risk management.

The initiative, which featured a University Risk Management Pitching Essay Competition, was organised as part of the institute’s 25th anniversary celebrations.

President and Chairman of Council, Kevin Ugwuoke, FCRM, disclosed this in a statement, describing the maiden competition as a strategic step towards embedding risk awareness and strategic thinking in Nigeria’s educational system.

He said the initiative was particularly important at a time the country was navigating 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 uncertainties, making informed decisions and transforming risks into opportunities for sustainable national 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 challenged students from Nigerian universities to identify critical national challenges and develop practical and sustainable solutions using risk management principles.

Ugwuoke said the competition was designed to bridge the gap between academia and professional practice while nurturing young professionals with the capacity to anticipate uncertainties and contribute meaningfully to national development.

The finalists were assessed based on their understanding of risk management, depth of analysis, innovation, feasibility, presentation skills and supporting evidence.

The assessment culminated in 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 secured first and second runner-up positions respectively.

The winning team received N1.5 million, while the first and second runners-up were awarded N1 million and N500,000 respectively. The winners also received plaques in recognition of their achievements.

Beyond the financial rewards, CRMI said all participants would receive certificates and automatic free membership of the institute, providing them with access to professional development opportunities.

The institute also announced an international opportunity for eligible teams to participate in the 2027 Spencer-RIMS Student Risk Management Challenge.

Under the arrangement, the top eight teams would advance to RISKWORLD in New Orleans, United States, offering participating students an opportunity to showcase their innovations on an international platform.

The initiative underscores CRMI’s commitment to promoting risk management education, strengthening professional capacity and encouraging youth-led innovation as a pathway to national resilience.

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