- FG to Launch STEMM Grant for Student Innovation, Entrepreneurship
- The Programme is designed to support undergraduate students
- Stakeholders praised the initiative as a timely response to rising graduate unemployment
In a bold move to stimulate student driven innovation and entrepreneurship, the Federal Government is set to launch a new initiative aimed at empowering undergraduates in tertiary institutions with funding and support to build scalable ventures.
Eko Hot Blog reports that the initiative, known as the Sciences, Technology, Engineering, Mathematics, and Medical Sciences Student Venture Capital Grant (SVCG) or the “STEMM Up Grant” will be officially unveiled in August by the Minister of Education, Dr. Maruf Tunji Alausa, CON.
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Announced during a stakeholder engagement session in Abuja, the grant programme is designed to support undergraduate students in STEMM disciplines, particularly those in their third year and above, with startup capital of up to ₦50 million.
The funding will be complemented by mentorship, business incubation, and development services to help student led projects thrive.
“This is more than a grant. It’s a launchpad for bold, young innovators to drive Nigeria’s industrial and technological transformation,” said Dr. Alausa during the session, which brought together university administrators, student leaders, faculty, and development partners.
The Bank of Industry (BOI) will partner with the Ministry of Education to implement the programme, ensuring transparency, accountability, and measurable impact.
Also speaking at the event, Minister of State for Education, Professor Suwaiba Sa’id Ahmad, described the grant as a strategic investment in Nigeria’s future.
“By nurturing student innovation from within our institutions, we are laying the foundation for a competitive, knowledge driven economy,” she said, noting that the programme was developed through months of consultation with key stakeholders.
The STEMM Up Grant is aligned with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which emphasizes youth empowerment, inclusive education, and sustainable economic growth.
Stakeholders have praised the initiative as a timely response to rising graduate unemployment and the need for localized innovation.
Many see it as a transformative step toward positioning Nigeria as a continental leader in student led entrepreneurship.
The Ministry of Education has pledged to ensure an inclusive and transparent rollout, with robust monitoring mechanisms to track progress and impact across institutions nationwide.
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