FG Launches N50m Student Venture Capital Grant Initiative

The Federal Government of Nigeria has announced the second cohort of the Student Venture Capital Grant, also known as the Next Moonshot Initiative, aimed at student entrepreneurs across Nigeria. Adebayo Onigbanjo, National Coordinator of the Special Programme Operations and Implementation Unit, made the announcement during a news conference in Abuja on September 4.

The initiative will award up to N50 million each to 50 selected ventures focusing on Science, Technology, Engineering, and Mathematics (STEM). The grants are equity-free, meaning recipients will retain full ownership of their businesses.

The initiative is linked to President Bola Tinubu's Nigeria Education Sector Renewal Initiative. Applications will undergo an AI-assisted screening followed by human evaluations, with shortlisted candidates presenting virtually and attending a boot camp before pitching in person.

Winners will receive mentorship from various corporate partners. A nationwide roadshow will run from September 6 to September 30, 2026, visiting nine institutions across Nigeria's six geopolitical zones to boost participation.