FG Launches N2.5 Billion Grant for Student Innovators

The Federal Government of Nigeria has launched the second cohort of its Student Venture Capital Grant, providing up to N50 million each to 50 exceptional student-led ventures across the country. Adebayo Onigbanjo, the National Coordinator of the Special Programme Operations and Implementation Unit at the Federal Ministry of Education, announced this initiative at a news conference in Abuja on Friday.

The grant, part of the Next Moonshot Initiative, aims to support student entrepreneurs with Science, Technology, Engineering, and Mathematics (STEM)-based business ideas. Applications will be accepted until September 30, 2026.

The selection process includes an AI-assisted screening followed by evaluations from 10 human assessors. Shortlisted candidates will present virtually, and finalists will participate in a three-day boot camp.

The program also includes a six-month mentorship from various corporate and entrepreneurial organizations. A nationwide application roadshow will occur from September 6 to September 30, visiting nine tertiary institutions across Nigeria.

This second cohort follows the initial rollout in 2025, which attracted 30,639 applicants.