FG Launches N50m Equity-Free Grant for Nigerian Tertiary Students
The Federal Government has launched a N50 million Student Venture Capital Grant (S-VCG) to promote innovation, research, and entrepreneurship among Nigeria’s tertiary students. The programme was officially unveiled on Monday in Abuja by the Minister of Education, Dr. Tunji Alausa.
Speaking at the launch, Dr. Alausa said the initiative is part of President Bola Tinubu’s Renewed Hope Agenda for Education and is aimed at identifying high-potential ideas on campuses. The programme is designed not just as a grant, but as a platform to foster creativity, enterprise, and innovation among students.
Beneficiaries of the S-VCG will receive up to N50 million in equity-free funding. They will also gain access to intensive incubation, mentorship from experts, professional networks, and essential tools to help turn ideas into viable businesses.
The programme is implemented jointly by the Federal Ministry of Education and TETFund, with support from the Bank of Industry, Afara Initiative, Afrilabs, the Entrepreneurship and Skills Development Centre, and Google. It is open to full-time students in federal, state, and private tertiary institutions from Year 3 and above, though younger students can participate as team members.
Dr. Alausa emphasized that all applicants must have a CAC-registered business name and focus on Science, Technology, Engineering, Mathematics, or Medical Sciences. Applications will undergo a thorough evaluation, and shortlisted teams will pitch to a 12-member expert panel from academia, industry, venture capital, and government. Teams may also be paired with complementary groups to encourage collaboration.
The S-VCG aims to accelerate research commercialisation, support intellectual property development, and help students create solutions with global relevance. While not every idea will become a startup, some may evolve into patents or technologies that can make significant impact.
Mr. Adebayo Onigbanjo, National Programme Coordinator, said the initiative is designed to ignite student-driven innovation and close investment gaps that often deter venture capitalists from funding early-stage university projects. The application portal has already received 17,914 entries from 402 schools, with over 1,000 fully submitted applications.
Former Minister of Power, Prof. Barth Nnaji, praised the programme for promoting scientific research and innovation, noting it aligns with efforts to develop inventions that address both local and global needs. The application portal, which opened on November 17, will close on January 23, 2026, with the evaluation process starting immediately afterwards.
