FG Disburses N2.25bn Grants to 45 Innovative Students

The Federal Government of Nigeria has disbursed N2.25 billion in grants to 45 students from various tertiary institutions as part of an initiative to support student-led business innovations. The event took place at the UNDP Innovation Hub in Ikoyi, Lagos, and was attended by Dr.

Tunji Alausa, the Minister of Education, and Prof. Suwaiba Ahmad, the Minister of State for Education.

The grants, which amount to N50 million each, are aimed at fostering entrepreneurship and innovation, particularly leveraging artificial intelligence technology to tackle societal challenges. Dr.

Alausa emphasized the need for tertiary institutions to refocus on innovation and urged students to create knowledge rather than merely acquiring theoretical understanding. He highlighted that the initiative is part of a broader strategy to transform Nigeria's youth population into job creators rather than job seekers.

The government anticipates a significant increase in applications for future cohorts, aiming for 200,000 applicants in the next round.