The Federal Government is set to provide ₦50 million grants each to 50 selected student entrepreneurs under its Student Venture Capital Grant (S-VCG) programme.
The initiative, driven by the Federal Ministry of Education in partnership with the Bank of Industry and other stakeholders, aims to support student-led startups that have reached the commercialisation stage.
It focuses on innovations in science, technology, engineering, mathematics and medical sciences (STEMM).Successful beneficiaries will receive equity-free funding to scale their ventures, create jobs and contribute to economic growth.
In addition to the capital, recipients gain access to incubation support, expert mentorship and relevant tools.
The programme forms part of efforts to turn tertiary institutions into hubs of innovation and entrepreneurship, moving beyond traditional certification to practical enterprise development.
It targets full-time students in accredited federal, state and private institutions, typically from the third year upward, along with postgraduate candidates whose projects demonstrate scalability, feasibility and impact.
Earlier rounds of the scheme attracted tens of thousands of applications from hundreds of institutions nationwide. Shortlisted finalists typically undergo intensive bootcamps and pitch evaluations before final awards are announced.
Officials have described the grants as a direct investment in young Nigerian innovators, intended to help promising campus ideas evolve into viable businesses that address real-world challenges.
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