The Federal Government has awarded N2.5 billion in grants to 45 student-led ventures at the 2026 Student Venture Capital Grant (S-VCG) Bootcamp and Awards held at the United Nations Development Programme Innovation Hub in Lagos.
The beneficiaries emerged from 65 finalists selected through a competitive screening process, according to a statement by the Federal Ministry of Education Nigeria.
Speaking at the event, Minister of Education Maruf Tunji Alausa said the initiative underscores the government’s plan to transform tertiary institutions into centres of innovation, entrepreneurship and practical problem-solving under the Renewed Hope Agenda of President Bola Ahmed Tinubu.
Alausa noted that beneficiaries are eligible to receive up to ₦50 million each in equity-free funding, along with mentorship, incubation support and access to digital tools. He added that the programme attracted more than 30,000 applications from 404 tertiary institutions nationwide.
Minister of Communications and Digital Economy Bosun Tijani highlighted the importance of digital innovation in shaping future businesses and strengthening Nigeria’s knowledge economy.
Also speaking at the event, Suwaiba Said Ahmad commended the finalists for their creativity and determination throughout the selection process.
Other stakeholders, including Muntari Dandutse and Elsie Attafuah, called for sustained investment in youth-driven innovation as a pathway to economic growth and national development.
The Student Venture Capital Grant initiative is part of ongoing efforts to promote entrepreneurship among Nigerian students and support the commercialization of ideas emerging from tertiary institutions.
