By Emmanuella Opara | November 5th 2026
KEY POINTS
- The Chartered Risk Management Institute of Nigeria has awarded N3 million to winners of its maiden university risk management competition.
- Dominican University emerged overall winner, followed by Covenant University and Ajayi Crowther University.
- The competition formed part of CRMI’s 25th anniversary celebration and attracted university students developing solutions to Nigeria’s challenges.
- All participants will receive certificates and free automatic membership of the institute.
MAIN STORY
The Chartered Risk Management Institute of Nigeria (CRMI) has awarded N3 million to university students who emerged winners of its maiden Risk Management Pitching Essay Competition, as part of efforts to encourage youth innovation and develop future risk management professionals.
The competition, held in Lagos under the theme, “Building a Resilient Nigeria Through Strategic Risk Management”, formed part of the institute’s 25th anniversary activities.
It provided students from participating Nigerian universities with an opportunity to identify major development challenges facing the country and propose practical solutions using strategic risk management principles.
Dominican University emerged as the overall winner, receiving N1.5 million and a plaque. Covenant University came second, earning N1 million, while Ajayi Crowther University finished third with N500,000.
The entries were assessed based on participants’ understanding of risk management principles, depth of analysis, innovation, feasibility, presentation and writing quality, as well as supporting evidence.
Finalists also presented and defended their proposals before professionals and other stakeholders during the pitching session.
According to the institute, the initiative was designed to strengthen students’ analytical, communication and problem-solving abilities while introducing them to the practical application of risk management across different sectors of the economy.
CRMI said the competition would help bridge the gap between academic learning and professional practice by equipping young people with the knowledge to identify emerging threats, assess uncertainty and develop strategies that support sustainable growth.
Beyond the cash prizes, all participants will receive certificates of participation and automatic free membership of the institute, giving them access to its professional development programmes and other initiatives.
The institute said the initiative was part of its broader commitment to promoting risk management education through professional development, research, industry engagement and capacity-building programmes.
It added that eligible university teams could also apply for the 2027 Spencer-RIMS Student Risk Management Challenge, where the eight highest-ranked teams will advance to RISKWORLD in New Orleans, United States. Travel and accommodation support will be subject to Spencer’s applicable terms and conditions.
CRMI said developing risk awareness and strategic thinking among young people was increasingly important as Nigeria navigated economic reforms, technological changes, institutional transformation and uncertainties in the global environment.
The institute maintained that preparing students to make informed decisions and develop evidence-based solutions would contribute to building stronger institutions and supporting national development.
THE ISSUES
Risk management is increasingly important to businesses, public institutions and governments as they contend with economic uncertainty, technological disruption and operational challenges.
However, developing professional capacity requires more than classroom instruction. Students also need opportunities to apply theoretical knowledge to practical problems and engage with professionals in their chosen fields.
CRMI’s competition seeks to address this gap by exposing university students to professional evaluation, practical problem-solving and career opportunities in risk management.
The provision of automatic membership also creates an entry point for participants to access professional development opportunities while still at the early stages of their careers.
WHAT’S NEXT
The next opportunity for eligible university teams is the 2027 Spencer-RIMS Student Risk Management Challenge, which will provide selected teams with an opportunity to progress to RISKWORLD in New Orleans.
CRMI is also expected to continue its professional development and capacity-building activities as part of its efforts to strengthen risk management education and professional practice in Nigeria.
BOTTOM LINE
CRMI’s maiden university competition offers a pathway for developing young risk management professionals by combining academic knowledge, practical problem-solving and industry exposure. Its long-term value will depend on how effectively the initiative translates student participation into stronger professional skills and practical contributions to Nigeria’s development.
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