FG Unveils ₦50m Student Grant for Innovators in STEMM Fields, Launches August 2025
- The Nigerian government launched a new Student Venture Capital Grant (S-VCG) for full-time students with bold ideas
- The new scheme, which will launch in August, would support innovation and entrepreneurship among undergraduates in STEMM
- The announcement came during a national stakeholders’ meeting in Abuja, where Minister of Education, Tunji Alausa, unveiled the initiative
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
The federal government has introduced a new ₦50 million Student Venture Capital Grant (S-VCG) aimed at full-time students in public universities and polytechnics.
Set for an official launch in August 2025, the grant will support innovation and entrepreneurship among undergraduates in Science, Technology, Engineering, Mathematics, and Medical Sciences (STEEM).
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Who is eligible to apply and when?
The announcement came during a national stakeholders’ meeting in Abuja, where Minister of Education, Tunji Alausa, unveiled the initiative.
He emphasised the government’s commitment to transforming the education system into an engine for economic development through innovation.
Eligible students must be in 300-level or above, enrolled full-time in STEMM disciplines. They can apply individually or in teams, and selected projects may receive funding of up to ₦50 million each. Applications are expected to open before the official rollout in August 2025.
More than just a cash grant
The S-VCG is not a simple funding scheme. Recipients will benefit from a comprehensive development package that includes:
- Expert mentorship
- Entrepreneurial training
- Product incubation
- Business scale-up support
This ensures students aren’t just funded—they’re empowered to build sustainable businesses.
Government and Bank of Industry partnership
To ensure accountability and transparency, the Bank of Industry (BoI) will partner with the Ministry of Education.
BoI will oversee fund disbursement, monitor performance, and track investment impact. This collaboration aims to build investor confidence in youth-led startups.
Aiming for a global-standard innovation culture
Dr. Alausa noted that Nigeria must foster a generation of disruptive thinkers capable of solving real-world challenges.
“This grant is a launchpad for bold young minds,” he said. Prof. Suwaiba Sa’id Ahmad, Minister of State for Education, added that the initiative is the product of collaboration among students, faculty, and industry experts.
Reducing graduate unemployment in Nigeria
The program aligns with national strategies to tackle youth unemployment by converting graduates into job creators rather than job seekers.
With high intellectual capital sitting idle in universities, the grant is seen as a long-overdue intervention.
Bridging research and commercial impact
Stakeholders applauded the grant during the Abuja meeting, noting that it bridges the research-to-market gap often seen in Nigeria’s tertiary institutions.
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Universities and polytechnics are expected to start student sensitisation campaigns soon.
Key benefits of the S-VCG programme
- Up to ₦50 million in grant funding
- Access to mentorship and business training
- Support for startup incubation and scale-up
- Increased entrepreneurial opportunities for students
- Boost in job creation and national innovation
- Greater transparency through BoI oversight
- Promotes private sector investment in student-led startups
The development comes after the Nigerian government, via the National Directorate of Employment (NDE) opened a portal to empower artisans and other creatives in Nigeria.
The NDE launched the second phase of its Renewed Hope Employment Initiative (RHEI), aiming to tackle youth unemployment and equip Nigerians with practical vocational and digital skills.
Speaking at the unveiling of a new digital registration platform in Abuja on Monday, NDE Director-General, Silas Agara, announced that the entire process for Phase Two would be conducted online.
How to apply, receive FG’s $100,000
Legit.ng earlier reported that the Nigerian government launched phase one of the Creative Economy Development Fund (CEDF) to provide sustainable financing for the country’s growing creative and cultural sectors.
The fund, which was recently approved by the Federal Executive Council (FEC), was officially announced by the Ministry of Arts, Culture, Tourism, and Creative Economy.
The fund aimed to empower several sectors, positioning Nigeria as a global player and leader in creative industries.
Proofreading by Funmilayo Aremu, copy editor at Legit.ng.
Source: Legit.ng
