By Emmanuel Nduka
As part of efforts to drive innovation and entrepreneurship among Nigerian youths, the Federal Government of Nigeria will in August unveil a N50 million grant for students in Science, Technology, Engineering, Mathematics, and Medical Sciences (STEMM) disciplines.
Tagged the Student Venture Capital Grant (S-VCG), the initiative aims to support students in tertiary institutions to develop scalable, job-creating ventures. It targets full-time undergraduates in 300 level and above across STEMM-related fields.
According to a statement by the Ministry of Education’s Director of Press and Public Relations, Folashade Boriowo, the grant will be formally launched by the Minister of Education, Dr. Tunji Alausa, following a recent stakeholder meeting in Abuja. The session brought together vice-chancellors, provosts, rectors, student leaders, academic staff, and development partners to discuss how best to nurture student-led innovation.
Each selected project will receive up to N50 million in funding, along with mentorship, incubation support, and business development services. The initiative is being implemented in collaboration with the Bank of Industry (BoI) to ensure transparency and impact.
“This is more than just a grant—it’s a launchpad for bold, young innovators to lead Nigeria’s industrial and technological transformation,” Alausa said.
Also speaking, the Minister of State for Education, Prof. Suwaiba Sa’id Ahmad, described the programme as a strategic investment in Nigeria’s knowledge economy.
“We’re building a stronger, more competitive future by supporting innovation from the ground up,” she noted, emphasizing that the grant’s framework followed months of consultation with students, faculty, and institutional leaders.
Participants at the Abuja engagement praised the S-VCG as a timely and impactful effort to tackle graduate unemployment, stimulate innovation, and position Nigeria as a hub for youth-driven entrepreneurship in Africa.
