The Federal Government said it is set to unveil the Science, Technology, Engineering, Mathematics, and Medical Sciences Student Venture Capital Grant (S-VCG).
It said the programme was a pioneering initiative designed to empower students in Nigeria’s tertiary institutions to build the next generation of scalable, job-creating ventures.
It said it was part of the current administration’s efforts to stimulate innovation, entrepreneurship, and economic transformation.
Also referred to as the “STEMM Up Grant,” the initiative will be formally unveiled in August by the Minister of Education, Tunji Alausa.
Spokesperson of the Ministry of Education, Folasade Boriowo, disclosed this in a statement on Friday.
She said the initiative was disclosed during a stakeholder engagement session held in Abuja that had in attendance vice chancellors, provosts, rectors, student leaders, academic staff, and development partners to chart a collective course for nurturing student-led innovation.
The statement explained that the initiative would be implemented in partnership with the Bank of Industry (BOI) to ensure financial transparency, impact measurement, and effective project execution.
“S-VCG is not just a grant. It’s a launchpad for bold, young innovators to lead Nigeria’s industrial and technological transformation,” said Alausa.
“We are giving our students the tools to dream, build, and scale solutions that solve real-world problems — from tech and medicine to agriculture and green energy,” the statement read in part.
The grant targets full-time undergraduate students in STEMM disciplines (Science, Technology, Engineering, Mathematics, and Medical Sciences), specifically those in their 300-level and above.
Each selected student-led project will be eligible to receive startup funding of up to ₦50 million, along with access to mentorship, incubation services, and business development support.
The initiative will be implemented in partnership with the Bank of Industry (BOI) to ensure financial transparency, impact measurement, and effective project execution.
Speaking at the session, the Minister of State for Education, Suwaiba Sa’id Ahmad, described the grant as a strategic investment in Nigeria’s knowledge economy.
“We’re building a stronger, more competitive future by supporting innovation from the ground up,” she said, adding that the programme’s design was informed by months of consultation with students, faculty, and institutional leaders.
The government further stated that the launch of S-VCG aligned with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises inclusive education, youth empowerment, and sustainable economic development.
