Nigeria’s Minister of Education, Tunji Alausa, has rolled out a new government-backed initiative that will provide student entrepreneurs with access to as much as N50 million in equity-free funding.
The programme, known as the Student Venture Capital Grant (S-VCG), was launched on Monday in Abuja as part of President Bola Tinubu’s Renewed Hope Agenda targeted at encouraging innovation, technology development, and youth-driven enterprises.
Speaking at the launch, Alausa said the grant was designed to identify promising student-led businesses and equip them with capital, mentorship, and structured incubation.
He explained that recipients would not only receive financial backing of up to N50 million but also gain access to experienced founders, industry experts, and a development programme intended to help them scale their projects into viable companies.
The scheme is open to students in federal, state, and private tertiary institutions. Eligible applicants include: undergraduates in 300 level and above, Master’s and PhD students, Startups registered with the CAC.
He noted that the projects strictly within STEMM fields – Science, Technology, Engineering, Mathematics, and Medical Science
The minister noted that the S-VCG application portal opened on 17 November 2025, inviting submissions from students nationwide.
After the first screening stage, shortlisted applicants will pitch their ventures before a 12-member expert panel, which would determine who proceeds to receive funding and programme support.
The application window closes on 23 January 2026.
