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The grant portal, which was officially unveiled in Abuja, offers N50 million grant to support student-driven innovation by cultivating ventures and projects that tackle real-world challenges focusing on both societal impact and commercialization.
Proposed for 300 level and above students in tertiary institutions, it focuses on creativity in Science, Technology, Engineering, Mathematics and Medical Sciences (STEMM).
While unveiling the initiative, the Honourable Minister of Education, Dr Tunji Alausa, said that it speaks directly to the future of Nigeria and the central mission of the administration.
Stressing that it is more than a grant scheme, he said that it is a purposeful and strategic intervention designed to identify the next big ideas from the campuses, institutionalizing a culture of creativity, enterprise, and solution-driven thinking among students.
He said "This programme aims to ignite innovation, institute research excellence, and kick-start a vibrant entrepreneurial culture across our tertiary institutions.
"Today, we unveil the Student Venture Capital Grant (S-VCG), a bold step in empowering Nigeria’s emerging generation of innovators.
"Through this programme, students will have access to up to ₦50 million in equity-free seed funding to scale promising ventures with the potential to attract attention not only from Nigerian venture capital and private equity firms, but also from global investors.
"The S-VCG is structured to identify exceptional talent, give them a fair and credible opportunity to succeed, and inspire thousands of others to believe in their capacity to innovate.
"We know that many successful founders did not thrive on their first attempt. But their journey began with a spark.
"This programme exists to light that spark, build a new culture of confidence, and showcase to the world the depth of Nigerian ingenuity. Beneficiaries of the S-VCG will receive a comprehensive support package tailored to increase their chances of building viable, scalable ventures.
"This includes: Up to ₦50 million in equity-free seed investment Intensive incubation programme Expert mentorship from seasoned entrepreneurs and industry leaders and
"Access to critical tools, networks, and resources for startup development
"The programme is open to:
Students of Federal, State, and Private tertiary institutions. Full-time students from Year 3 and above (with younger students eligible as team members)
"Ventures with a CAC-registered business name. Projects rooted in STEMM—Science, Technology, Engineering, Mathematics, and Medical Sciences" the Minister said
He noted that the S-VCG is a key pillar of President Bola Ahmed Tinubu’s Renewed Hope Agenda for Education, which he said places the people, the greatest national asset, at the centre of transforming education and building a competitive, innovation-led economy.
According to him, the initiative is a joint undertaking of the Federal Ministry of Education and TETFund, implemented in partnership with high-impact institutions, including the Bank of Industry, Afara Initiative, Entrepreneurships & Skills Development Center, Afrilabs, and Google.
Nigerian students, he said, possess the hunger, passion, and boldness to rise to the challenge and make good use of the grant.
Dr. Alausa also assured that every business submission will be thoroughly evaluated, while applicants will receive feedback to help refine and strengthen their ideas for subsequent cycles.
Teams with complementary ideas, the Minister said, will be paired to encourage collaboration, cross-learning, and shared innovation.
"Applications will be processed through our dedicated digital portal. Short-listed teams will pitch before a 12-member panel comprising representatives of the Research, Innovation & Commercialization Committee, the Bank of Industry, venture capital and private equity professionals, Afara Initiative, Tertiary Institutions Professors and the Federal Ministry of Education.
"The application portal opened on 17th November and will close on 23rd January 2026, after which the evaluation process will commence immediately.
"The S-VCG is not just funding; it is a mindset shift. It complements academic learning with the courage to build, experiment, collaborate, and dare big." he stated
The Minister of State for Education, Prof Suwaiba Said Ahmad, said she loves the initiative so much because it goes directly to the students.
"It's not just about the lecturers, it's not even about the school, but about the students.
"So it's a very important initiative for all of us here, not merely the ceremonial launch, but to the client and transformative shift in the landscape of Nigerian education and enterprise."
Speaking at the launching, former Minister of Power, Barth Nnaji, commended the Federal Ministry of Education noting that the initiative was novel.
The initiative, he said, is a direct connection between what the students learnt in school and what they will do after school.
The Chairman of the House of Representatives Committee on University Education, Abubakar Fulata, said with the initiative Nigeria is getting away from the inherited system brought by the colonial era.
He said now Nigeria is going to be taylored around national development and industrialization.
But the lawmaker urged the Ministry to extend the same privilege to Arts students.
President of the National Association of Nigerian Students (NANS), Comrade Olushola Oladoja, noted that Nigerian students have never had it so good as what they are enjoying under President Tinubu administration.
He gave instance that Nigeria has had two years of uninterrupted academic calendars under Tinubu unlike under past administrations.
Other stakeholders also gave goodwill messages at the launching