The Federal Government has awarded ₦50 million each to 45 student innovators selected from 65 finalists across public and private tertiary institutions in Nigeria under the Student Venture Capital Grant (S-VCG).
Minister of Education, Tunji Alausa, announced the grants on Sunday, March 30, 2026, at the UNDP Innovation Hub in Ikoyi, Lagos. He described the initiative as a bold step by the government to position Nigerian youth as drivers of the next wave of global innovation.
Alausa explained that the equity-free grant includes mentorship, incubation support, and access to digital tools. The programme aims to help student-led startups move from ideas to commercialisation, addressing national challenges in sectors such as agriculture, healthcare, logistics, and fintech.
The beneficiaries emerged from over 30,000 applications submitted by students from more than 400 tertiary institutions nationwide. They underwent a rigorous three-day boot camp and pitched their innovations before industry experts.
The minister emphasised that the initiative seeks to transform tertiary institutions from mere certification centres into hubs of innovation, entrepreneurship, and economic development. He expressed confidence that the beneficiaries would become job creators rather than job seekers.
Minister of State for Education, Prof. Suwaiba Ahmad, described student entrepreneurship as a critical strategy for job creation and economic growth. She noted that the programme equips young innovators with creativity and problem-solving skills needed in a competitive economy.
Minister of Communications and Digital Economy, Dr Bosun Tijani, urged the students to focus on building sustainable solutions through consistent effort and compounding impact.
The United Nations Development Programme (UNDP), along with partners like Google and the Bank of Industry, supported the initiative. UNDP Resident Representative, Ms Elsie Attafuah, encouraged the beneficiaries to refine their ideas and scale their impact within Nigeria’s growing innovation ecosystem.
The total disbursement under this phase amounts to ₦2.25 billion. The programme aligns with President Bola Tinubu’s administration’s commitment to youth empowerment through innovation and skills development.
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com