By Obasola Olatunde
The Federal Government has unveiled a ₦50 million grant to support student innovators across Nigerian tertiary institutions.
The grant which is being administered under the Student Venture Capital Grant (S-VCG) is a new initiative providing equity free grants.
The programme, launched in Abuja, is aimed at identifying and supporting what the government calls the next Moonshot from Nigeria’s universities, polytechnics, and colleges of education.
Speaking at the launch, Minister of Education, Chief Dr. Tunji Alausa, said the scheme forms a key part of the administration’s Renewed Hope Agenda, stressing that the government is scouting for “future Nigerian Unicorns.”
“This is an equity free seed investment in Nigeria’s future,” Alausa said. “We are not just funding projects; we are empowering ideas capable of solving national and global challenges.”
The S-VCG focuses on STEMM fields Science, Technology, Engineering, Mathematics, and Medical Sciences with preference for ventures demonstrating potential for scale, market relevance, and tangible societal impact. Beyond funding, selected students will gain access to technical resources, tools, and digital platforms to develop competitive startups.
The initiative also involves a strategic partnership with Google which will integrate Gemini AI-powered evaluation agents into the application portal to assess proposals based on innovation, feasibility, and market potential.
Applicants will also receive a one-year Google Gemini Pro license and premium digital learning resources.
Reacting, Comrade Adejuwon Olatunji Emmanuel, Assistant Secretary General of the National Association of Nigerian Students (NANS), described the grant as a significant and visionary step toward equipping students with the tools, mentorship, and capital to transform ideas into scalable ventures.”
He urged the government to expand the programme beyond STEMM disciplines to include other creative and innovative fields.
Dr. Chioma Okeke, a lecturer in Entrepreneurship at the University of Lagos, commended the programme for bridging the gap between classroom learning and real world innovation. “For too long, student ideas have lacked structured funding and mentorship. The S-VCG directly addresses this, providing a platform for young Nigerians to develop viable startups that can compete globally,” she said.
Student innovators have also expressed excitement. Emmanuel Adeyemi, a 400 level Computer Science student at Covenant University, said, “This is a game changer. Access to funding and mentorship at this scale can help turn our projects from ideas into real businesses. I can’t wait to submit my proposal.”
Similarly, tech entrepreneur Ngozi Okafor, founder of a Lagos based startup incubator, called the initiative “a landmark programme” that could stimulate economic growth by fostering youth led enterprises and reducing graduate unemployment.
The Ministry of Education emphasized that the programme is designed not just to fund ideas but to build an ecosystem where student ventures can mature into globally competitive enterprises, marking one of Nigeria’s most ambitious education driven economic development programmes to date.