Ideas rule the world and this has become more visible in the last two decades.

Some entrepreneurs in Nigeria say funding is a problem for even those who have great ideas.

So many have given up on their ideas after they encountered obstacles that left them confused.

There is something they lack, but majority of them are not aware of what that is.

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Nigeria’s Vice President, Professor Yemi Osinbajo, knows that Nigerians have ideas, but opportunities to develop these ideas is something that many lack.  

“Twenty years ago, Facebook, Uber, Twitter, AWS didn't exist. A few people had ideas, developed them and reinvented the way we think, move and communicate.

“Nigerians have never lacked ideas,” he said.

What Nigerians truly lack is the development of ideas to make sure they grow and become big.

To address this challenge, the Nigerian government in partnership with Civic Foundation and the private sector to start the Student Innovation Challenge.

It is a competition geared at having students in tertiary institutions across Nigeria develop ideas and innovative solutions to issues within their locality.

On Friday, the regional stage of this competition began in Lagos and Vice President Osinbajo was there.

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All the tertiary institutions in the South-West region gathered at the J.F Ade Auditorium in the University of Lagos to listen to 48 students and teams pitch their ideas and solutions to a panel of judges.

And the Vice President told the gathering that he “believes that the power to disrupt our way of life as we know it, is in the hands of our young men and women”.