POLITICAL Economy

Federal Government Launches N2.5bn Student Grant

by admin on | 2026-09-06 16:20:14

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Federal Government Launches N2.5bn Student Grant 

By Ahmad Sirajo Makama,  Abuja 

The Nigerian government has announced the launch of applications for the second cohort of the N2.5 billion Student Venture Capital Grant (S-VCG). 

This initiative aims to support innovative students from tertiary institutions across the country, providing them with the financial resources needed to turn their ideas into viable ventures.

The programme is aimed at expanding opportunities for young Nigerians, with 50 student-led ventures set to receive up to ₦50 million each in equity-free funding.

The National Project Coordinator of the S-VCG, Adebayo Onigbanjo, disclosed the development at a press briefing ahead of the nationwide campus mobilisation campaign scheduled for September 6–30, 2026.

He said the programme is open to students developing innovations in health, agriculture, education, technology, energy, logistics, e-commerce and other STEMM-related fields.

Onigbanjo said the mobilisation is designed to take the programme directly to students across the country, particularly those developing solutions in science, technology, engineering, mathematics and medicine (STEMM), while providing information on eligibility, application requirements and the selection process.

According to him, the S-VCG team will visit nine tertiary institutions across the six geopolitical zones: University of Abuja, Nile University, Abubakar Tafawa Balewa University, Bauchi, Bayero University Kano, Kano University of Science and Technology, Wudil, Federal Polytechnic Nekede, Owerri, Ambrose Alli University, Ekpoma, University of Lagos and Covenant University, Ota.

"A Campus Ambassador Programme will also be activated in 20 additional institutions to extend awareness of the opportunity to more students nationwide.

"The Ministry is encouraging Vice-Chancellors, Rectors, Provosts, lecturers and student leaders to identify promising innovators within their institutions and encourage them to apply," he said

The National Coordinators explained that for the second cohort, the selection process has been strengthened to ensure that promising ventures receive rigorous assessment, as Applications will undergo AI-assisted screening and assessment by 10 human evaluators, stressing that shortlisted applicants will make virtual presentations before an Evaluation Committee, while finalists will proceed to a bootcamp and in-person presentations.

"A major addition to the S-VCG programme is a six-month mentorship programme for successful beneficiaries. Through the initiative, student entrepreneurs are connected with experienced organisations and business leaders across technology, logistics, e-commerce, health, education and other sectors," he said.

He said the expanded model reflects Dr Alausa’s approach to supporting student entrepreneurship beyond funding, by providing beneficiaries with access to mentorship, networks and practical business support as they develop and scale their ventures.

He emphasised that applicants must be currently enrolled in a Nigerian university, polytechnic or college of education and be at least 300 level or its equivalent, however, students below 300 level may participate as members of teams led by qualifying students.

"Applicants must also have a CAC-registered business name or company, while their projects must have progressed beyond proof of concept and demonstrate real-world potential.

Applications are open at **svcg.education.gov.ng** and close on September 30, 2026," he said 

Reviewing the first cohort, Onigbanjo said the second cohort is building on the strong response to the inaugural S-VCG cycle, which attracted 17,914 registrations from 404 institutions across all 36 states and the Federal Capital Territory within three weeks of opening in November 2025.

He said the registrations came from 348 public and 56 private institutions, with 52 per cent male and 48 per cent female participation, adding that a total of 3,014 completed submissions subsequently underwent AI-assisted screening and review by 10 human evaluators.

"Sixty-five finalists advanced to the three-day S-VCG Bootcamp held from March 27–29, 2026, where they presented their ventures before a panel comprising venture capitalists, industry experts and academic leaders," he said.

The S-VCG, known as the “Next Moonshot Initiative”, is part of the Ministry’s Nigeria Education Sector Renewal Initiative (NESRI), particularly its STEMM pillar on research, innovation and entrepreneurship. It is implemented in partnership with the Tertiary Education Trust Fund (TETFund), Bank of Industry (BOI) and Afara Initiative.

He listed supporting organisations among others to include: Lafarge, Chowdeck, Powerhouse, HostAfrica, Klasha, LifeBank, Future Africa, GetEquity and OneHealth.

He said under the leadership of the Minister of Education, Dr Maruf Tunji Alausa, the Ministry will continue to strengthen partnerships with tertiary institutions, development partners and the private sector to expand opportunities for student innovators and provide the support required to take promising ideas from the classroom to the marketplace.

The initiative reflects the Federal Government’s commitment, under the leadership of President Bola Ahmed Tinubu, and the Renewed Hope Agenda to building an education system that not only prepares young Nigerians for the world of work, but also empowers them to create enterprises, develop solutions and contribute meaningfully to the nation’s economic transformation.