Fed Govt awards N2.2bn grants to 45 students of higher institutions
The Federal Government on Sunday disbursed N2.250billion to 45 students of tertiary institutions across the country. Education Minister Dr. Tunji Alausa, officially launched the ₦50 million Student Venture Capital Grant
- By Damola Kola-Dare
The Federal Government on Sunday disbursed N2.250billion to 45 students of tertiary institutions across the country.
Education Minister Dr. Tunji Alausa, officially launched the ₦50 million Student Venture Capital Grant (S-VCG) in Abuja December last year.
Designed for student innovators in STEMM fields, the initiative provides up to N50 million in equity-free seed funding, mentorship, and incubation to foster campus startups.
The event which was held in Ikoyi, Lagos, featured the presentation of cheques to the students at the end of three weeks bootcamp.
Dignitaries in attendance included Minister of State for Education, Prof. Suwaiba Ahamd, Minister of Communications, Innovation and Digital, Economy Dr. Bosun Tijani, Chairman, Senate Committee on TETFund, Senator Mohammed Muntari, among others.
The 45 winners were part of 65 students that made it to the final and participated in the bootcamp.
Alausa noted that over 30,000 applications were received from students from more than 400 tertiary institutions across the nation.
The minister described the Student Venture Capital Grant (S-VCG), as another transformative student programme from the Federal Ministry of Education
“Today is not just another programme event. We are activating a new future. A new vision for Nigerian students.”
He said for a long time, tertiary institutions have been seen principally as centres for certification, stressing under President Bola Tinubu, and in line with the Renewed Hope Agenda, the narrative is being rewritten.
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Alausa urged tertiary institutions to become centres of innovation, engines of enterprise, and launchpads for global solutions.
He described the initiative as one of the boldest steps the government took to bring this vision to life because this administration believes in the innate abilities and talents of students.
Alausa said it is designed to unlock the potential of Nigerian students, adding that through the programme students can access up to N50 million in equity-free funding, receive structured incubation and mentorship, and benefit from cutting-edge digital tools and AI-enabled evaluation systems.
He said the student venture capital grant will strengthen Nigeria’s innovation ecosystem across universities, polytechnics, and colleges of education, build a pipeline of young entrepreneurs and job creators and position Nigeria as a hub for deep-tech and innovation-driven growth.
“This is how nations rise, not by consuming ideas, but by creating them," he said.
Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, lauded the Federal Ministry of Education for introducing the student venture capital grant and advised the winners to utilise the grant appropriately.
Chairman, Senate Committee on TETFund, Senator Mohammed Muntari hailed the President for his commitment to youths and for empowering Nigerian students to generate ideas and commercialise them.
