The Federal Government has introduced a new N50 million equity-free funding programme designed to support innovation, research, and student-led entrepreneurship across tertiary institutions nationwide.
The initiative, known as the Student Venture Capital Grant (S-VCG), was officially unveiled on Monday in Abuja by the Minister of Education, Dr. Maruf Tunji Alausa, who described it as a strategic investment in Nigeria’s emerging generation of innovators.
According to the minister, the programme aligns with President Bola Tinubu’s Renewed Hope Agenda for transforming the education sector and strengthening the country’s knowledge-based economy.
A New Push for Campus Innovation
Alausa explained that the S-VCG goes beyond traditional grants, as it will provide selected students with:
Up to N50 million in equity-free seed funding, Business incubation, Specialist mentorship, Access to networks, and Technology and startup-building resources.
He said the programme is crafted to identify exceptional student-driven ideas and convert them into scalable ventures with global potential.
“This initiative is not merely about funding projects; it is about building confidence, inspiring creativity, and showcasing the depth of talent within Nigerian tertiary institutions,” Alausa said.
Eligibility and Application Structure
The grant is open to full-time students in federal, state, and private universities, polytechnics, and colleges of education.
Applicants must be in Year 3 and above, although younger students may participate as part of a team.
To qualify, ventures must:
Be registered with the Corporate Affairs Commission (CAC),
Focus on fields such as Science, Technology, Engineering, Mathematics, and Medical Sciences, and
Present solutions capable of becoming commercially viable or patentable.
Every submission will undergo a rigorous screening process, after which shortlisted applicants will pitch before a 12-member expert panel drawn from industry, academia, government, and the venture capital ecosystem.
Programme Collaborators The S-VCG is a joint initiative involving: Federal Ministry of Education, TETFund, Bank of Industry, Afara Initiative, Afrilabs Entrepreneurship and Skills Development Centre, Google.
Strong Response From Students
The National Programme Coordinator, Mr. Adebayo Onigbanjo, revealed that the platform had already recorded 17,914 applications from 402 tertiary institutions, with over 1,000 fully submitted entries.
He described the initiative as a response to funding barriers that often prevent students’ innovative ideas from attracting early-stage investment.
Expert Commendations
Former Minister of Power, Prof. Barth Nnaji, praised the programme, noting that it complements ongoing efforts to promote scientific breakthroughs and practical research outcomes in Nigeria.
He said such initiatives enable students and their mentors to develop inventions that can address local challenges while meeting global standards.
Application Timeline
The application portal opened on November 17, 2025, and will close on January 23, 2026, after which the evaluation stage will commence immediately.
