FG Awards ₦2.5 Billion Grants to 45 Student Ventures

The Federal Government has awarded ₦2.5 billion in grants to 45 outstanding staudent ventures at the 2026 Student Venture Capital Grant (S-VCG) Bootcamp and Awards. The event, held at the UNDP Innovation Hub, Lagos, recognized the innovative projects of students from across the country.

Delivering the keynote address, the Honourable Minister of Education, Maruf Tunji Alausa, reaffirmed the Federal Government's commitment to transforming tertiary institutions into hubs of innovation, entrepreneurship, and practical problem-solving. "This initiative is in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu," he said. The Minister noted that beneficiaries can access up to ₦50 million in equity-free funding, alongside mentorship, incubation support, and digital tools.

The selection process involved 65 finalists, chosen from over 30,000 applications from 404 institutions. This, according to the Minister, is evidence of Nigeria's growing innovation capacity. "We are committed to nurturing student entrepreneurs and building a pipeline of innovators to drive Nigeria's economic growth," he added.

The Honourable Minister of Communications and Digital Economy, Bosun Tijani, emphasized the importance of digital innovation, while Suwaiba Said Ahmad commended the finalists' resilience and creativity. Stakeholders, including Muntari Dandutse and Elsie Attafuah, called for sustained investment in youth-driven innovation.

The 45 winning ventures will receive funding to support their projects, which are expected to contribute to Nigeria's economic growth and development. The Ministry of Education reaffirmed its commitment to supporting student entrepreneurs and promoting innovation in the country.

Source: Federal Ministry of Education

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