The Federal Government has granted ₦50 million each to 45 students selected from 65 finalists from public and private tertiary institutions across the country under the Student Venture Capital Grant.
The Minister of Education, Tunji Alausa, who unveiled the initiative yesterday at the UNDP Innovation Hub, Ikoyi in Lagos State, said the S-VCG was a bold declaration by the Federal Government that the next wave of global innovation would be driven by Nigerian youth.
According to Alausa, the programme represents a major shift in education policy aimed at empowering innovation-driven Nigerian students nationwide, adding that the grant provides equity-free funding, mentorship, incubation, and digital tools.
Reaffirming the government’s commitment to innovation under President Bola Tinubu’s administration, he said the beneficiaries would move from ideation to commercialization, becoming job creators and driving sustainable national economic growth.
He explained that the beneficiaries, who completed a rigorous three-day boot camp and pitched their innovations before industry experts, were selected from over 30,000 applicants across more than 400 tertiary institutions nationwide.
