FG Launches ₦50m Student Venture Grant for Innovators

The Federal Government of Nigeria has introduced a ₦50 million student venture grant aimed at assisting young Nigerians in turning innovative ideas into viable businesses, under the Renewed Hope Agenda of President Bola Ahmed Tinubu. The initiative is spearheaded by the Minister of Education, Dr. Maruf Tunji Alausa.

National Project Coordinator of the Student Venture Grant (S-VCG), Adebayo Onigbanjo, announced the initiative at a press briefing, which precedes a nationwide campus mobilization campaign scheduled for September 6–30, 2026. This campaign will target nine tertiary institutions across Nigeria's six geopolitical zones, with a Campus Ambassador Programme extending awareness to 20 additional institutions.

The program focuses on student innovators in science, technology, engineering, mathematics, and medicine (STEMM). Applications will undergo AI-assisted screening and assessment by ten human evaluators, with shortlisted candidates making virtual presentations.

Successful beneficiaries will receive six months of mentorship from various sectors, including technology and healthcare. The S-VCG is part of the Nigeria Education Sector Renewal Initiative and is implemented in partnership with TETFund, Bank of Industry, and Afara Initiative.