By Gabriel Ameh
Abuja, Nigeria — Nigeria’s Federal Government has disbursed a total of ₦2.25 billion to 45 outstanding student innovators under the Student Venture Capital Grant (S-VCG), in a bold move to strengthen entrepreneurship and innovation across tertiary institutions.
Each beneficiary, selected from universities, polytechnics, and colleges of education nationwide, received up to ₦50 million in equity-free funding to scale their ventures.
The initiative, driven by the Federal Ministry of Education, is part of a broader effort to reposition Nigeria’s higher education system towards innovation, enterprise development, and practical problem-solving.
Speaking at the grand finale of the programme, the Minister of Education, Dr. Tunji Alausa, described the initiative as a transformative step toward empowering students to become job creators rather than job seekers.
“This is how nations rise not by consuming ideas, but by creating them,” he said.
Beyond funding, the programme also provides structured mentorship, incubation support, and access to digital tools to help participants build sustainable and scalable businesses.
The competition attracted over 30,000 applications from more than 400 tertiary institutions across the country. After a rigorous selection process, 65 finalists were shortlisted and underwent a three-week intensive bootcamp featuring pitch sessions, venture development training, and expert evaluations.
At the end of the process, 45 innovators emerged as winners of the ₦2.25 billion venture prize.
Also speaking, the Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, urged beneficiaries to leverage the opportunity to build impactful ventures that contribute to national development.
Chairman of the Senate Committee on TETFund, Senator Mohammed Muntari, described the initiative as a strategic investment in Nigeria’s youth and a critical step toward building a knowledge-driven economy.
The Federal Government reaffirmed its commitment to expanding the programme, announcing that another round will commence in October to accommodate more student innovators nationwide.
