The Federal Government is set to unveil a groundbreaking grant designed to support student entrepreneurs in Nigeria’s tertiary institutions, with the goal of driving innovation, job creation, and national economic transformation.
The initiative, called the Sciences, Technology, Engineering, Mathematics and Medical Sciences Student Venture Capital Grant (S‑VCG)—also referred to as the STEMM Up Grant will be officially launched in August in Abuja, according to the Ministry of Education.
Empowering young innovators
Minister of Education, Dr Olatunji Alausa, made the announcement in a statement released by the Ministry’s Director of Press and Public Relations, Mrs Folasade Boriowo.
“S‑VCG is not just a grant. It’s a launchpad for bold, young innovators to lead Nigeria’s industrial and technological transformation. We are giving our students the tools to dream, build, and scale solutions that solve real‑world problems, from tech and medicine to agriculture and green energy,” he said.The Minister explained that the grant targets full‑time undergraduate students in STEMM disciplines such as Science, Technology, Engineering, Mathematics, and Medical Sciences—particularly those in their 300‑level and above.
“Each selected student‑led project will be eligible to receive start‑up funding of up to N50 million, along with access to mentorship, incubation services, and business development support,” he added.Implementation and oversight
The initiative will be implemented in collaboration with the Bank of Industry (BOI) to ensure transparency, proper project monitoring, and measurable impact.
The Minister urged vice‑chancellors, provosts, rectors, student leaders, academic staff, and development partners to support the project and work collectively to nurture student‑led ventures.
Strategic investment in Nigeria’s future
Minister of State for Education, Professor Suwaiba Sa’id Ahmad, described the grant as a long‑term, high‑impact move to strengthen Nigeria’s knowledge economy.
“We are building a stronger, more competitive future by supporting innovation from the ground up. This programme’s design was informed by months of consultation with students, faculty, and institutional leaders,” she said.
“The launch of S‑VCG also aligns with the government’s agenda, which prioritises inclusive education, youth empowerment, and sustainable economic development.”She reaffirmed the Ministry’s commitment to an inclusive rollout, rigorous monitoring, and sustained support to ensure that the initiative delivers tangible benefits across Nigeria’s higher institutions.