By Seyifunmi Azeez
The Federal Government of Nigeria has awarded a total of around ₦2.2 billion in equity‑free grants to 45 student‑led ventures emerging from the 2026 Student Venture Capital Grant (S‑VCG) Bootcamp, an initiative designed to support youth entrepreneurship and innovation.
The awards were announced on Monday by the Minister of Education, Dr. Tunji Alausa.
He noted that more than 30,000 applications were received from students across 404 tertiary institutions nationwide, including federal, state and private universities. A final group of 65 innovators was selected for intensive training and assessment during a multi‑day bootcamp before the winners were confirmed.
Each of the 45 winning ventures received up to ₦50 million in funding aimed at helping student founders turn ideas into scalable solutions, officials said. The programme is administered by the Federal Ministry of Education in partnership with the Bank of Industry.
“A moment that stood out for me was seeing 8 winners from the University of Lagos, many of whom came through our Entrepreneurship, Innovation & Business Incubation Certification (EIBIC) programme, a tried-and-tested pathway we are building to move students from ideas to real ventures,” Alausa said.
Participants tackled challenges across sectors including agriculture, healthcare, logistics and financial technology. Several winners were alumni of the Entrepreneurship, Innovation & Business Incubation Certification (EIBIC) programme, which provides students with entrepreneurial training and venture development pathways before they enter the S‑VCG competition.
The initiative forms part of broader federal efforts to stimulate innovation and employment among Nigeria’s youth population, which makes up more than half of the country’s demographic and has been the target of recent skills development and empowerment programmes.
In recent months, lawmakers and government officials have highlighted education and youth skills acquisition as key priorities under the Renewed Hope Agenda of President Bola Ahmed Tinubu, with support for vocational centres, digital skills hubs and other entrepreneurial schemes.
The winners were selected by a panel of evaluators and judges drawn from multiple sectors. The grants are intended to provide both financial backing and credibility for early‑stage ventures as they seek to grow their operations and create jobs in Nigeria’s economy.