The Federal Government has launched the Student Venture Capital Grant, a landmark initiative aimed at deepening research excellence, empowering student innovators and strengthening entrepreneurship across Nigeria’s tertiary institutions.
The launch, which took place on Tuesday in Abuja, aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda and marks a strategic shift towards building an innovation-driven education system.
Speaking at the event, the Minister of Education, Dr. Maruf Tunji Alausa, described the grant as a bold investment in the creativity and ingenuity of Nigerian students.
He said the programme would provide up to ₦50 million in equity-free seed funding to support student-led ventures with the potential to scale globally.
According to him, successful applicants will also benefit from incubation support, mentorship, innovation tools and access to both academic and industry networks to enhance the sustainability of their ventures.
Dr. Alausa explained that the grant is open to full-time students in federal, state and private tertiary institutions, with particular emphasis on projects in Science, Technology, Engineering and Mathematics (STEM) and Medical Sciences.
He added that submitted ventures would be assessed by a 12-member panel of experts drawn from academia, industry and the public sector to ensure transparency and quality selection.
The Minister disclosed that since the application portal opened on Nov. 17, thousands of submissions had been received, with the application window scheduled to close on Jan. 23, 2026.
Key partners supporting the initiative include the Tertiary Education Trust Fund (TETFund), the Bank of Industry, Afara Initiative, Afrilabs and Google.
In her remarks, the Minister of State for Education, Prof. Suwaiba Saidu Ahmad, described the grant as a transformative platform designed to bridge funding gaps faced by student innovators. She noted that the programme is supported by an artificial intelligence-powered evaluation system to enhance efficiency and fairness in the selection process.
Several national stakeholders at the event, including the Minister of Agriculture, members of the House Committee on University Education, the Special Adviser to the President and former Minister of Power, Prof. Barth Nnaji, commended the initiative for its alignment with Nigeria’s development priorities.
The Ministry of Education confirmed that a total of 17,914 applications had been received from 402 tertiary institutions across the country, reaffirming government’s commitment to nurturing innovative ideas and strengthening systems that build student capacity nationwide.
The Student Venture Capital Grant is expected to play a critical role in transforming research outputs into viable enterprises and positioning Nigerian students as key contributors to national and global innovation.
