The Federal Government has shortlisted 65 student innovators from 30,639 applicants across 404 institutions under the ₦50 million Student Venture Capital Grant (S-VCG) programme, aimed at advancing student entrepreneurship and innovation nationwide.
The initiative, spearheaded by the Federal Ministry of Education, is designed to nurture high-impact student-led ventures and strengthen Nigeria’s innovation-driven economy.
The Minister of Education, Dr. Maruf Olatunji Alausa, described the programme as a strategic investment in Nigeria’s next generation of innovators and job creators.
Alausa said the quality and ambition demonstrated by the 65 shortlisted innovators reflected the country’s growing potential in entrepreneurship and innovation.
“The quality and ambition demonstrated by these 65 student innovators is deeply encouraging. We are building a strong pipeline of innovators who will drive Nigeria’s future growth,” he said.
According to the ministry, the selection process followed a rigorous multi-stage framework, beginning with Artificial Intelligence-enabled screening for eligibility and alignment, followed by independent human validation to ensure fairness and accuracy.
It added that applicants were further evaluated through multi-sectoral assessments involving government, industry, academia and investment stakeholders.
The ministry noted that the programme aligns with the Renewed Hope Agenda of President Bola Ahmed Tinubu, which prioritises youth empowerment, enterprise development and economic growth.
It explained that through the S-VCG programme, government support includes accelerating high-impact student-led ventures, supporting scalable solutions across critical sectors and providing equity-free funding for commercialisation-stage projects.
Other objectives include stimulating job creation through student entrepreneurship and strengthening Nigeria’s capacity for innovation-led growth.
The ministry stated that finalists are currently undergoing a Venture Development Bootcamp scheduled from March 26 to March 29, featuring pitch sessions, venture development workshops and live venture evaluations with investor-style feedback.
It added that final grant decisions would be based on application scores, bootcamp performance and deliberations by an evaluation committee.
The Beneficiary Awards Day is scheduled to hold on March 29 at the UNDP Innovation Hub, Lagos, with live broadcast coverage expected on national television platforms.
The government reaffirmed its commitment to sustaining policies and programmes that empower young innovators and promote enterprise-driven economic development across the country.
