- The beneficiaries emerged from a pool of 65 finalists who participated in the intensive bootcamp
- Alausa described the initiative as a transformative intervention aimed at repositioning Nigeria’s education sector
- Mohammed Muntari described the initiative as a strategic investment in Nigeria’s future
The Federal Government on Sunday disbursed a total of ₦2.25 billion to 45 students from various tertiary institutions across the country to support innovation-driven projects under the newly introduced Student Venture Capital Grant (S-VCG).
Eko Hot Blog reports that the cheques were presented at the end of a three-week bootcamp in Lagos by the Minister of Education, Dr. Tunji Alausa, alongside the Minister of State for Education, Suwaiba Ahmad, Minister of Communications, Innovation and Digital Economy, Bosun Tijani, and Chairman of the Senate Committee on TETFund, Mohammed Muntari.
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The beneficiaries emerged from a pool of 65 finalists who participated in the intensive bootcamp, selected from over 30,000 applicants drawn from more than 400 tertiary institutions nationwide.
Speaking at the event, Alausa described the initiative as a transformative intervention aimed at repositioning Nigeria’s education sector towards innovation and enterprise.
According to him, the Student Venture Capital Grant is part of efforts by the Federal Ministry of Education to unlock the creative and entrepreneurial potential of Nigerian students.
“Today is not just another programme event. We are activating a new future, a new vision for Nigerian students,” he said.
He noted that tertiary institutions in Nigeria have long been viewed mainly as centres for certification, but under the leadership of President Bola Ahmed Tinubu and the Renewed Hope Agenda, that perception is being changed.
Alausa said institutions must now evolve into centres of innovation, engines of enterprise, and launchpads for global solutions, stressing that the S-VCG is one of the boldest steps taken by the government to actualise this vision.
He explained that the programme allows students to access up to ₦50 million in equity-free funding, while also benefiting from structured incubation, mentorship, and exposure to cutting-edge digital tools, including AI-enabled evaluation systems.
The minister added that the initiative would strengthen Nigeria’s innovation ecosystem across universities, polytechnics, and colleges of education, while building a new generation of entrepreneurs and job creators.
“This is how nations rise, not by consuming ideas, but by creating them,” he stated.
In his remarks, Bosun Tijani commended the Ministry of Education for introducing the programme and urged the beneficiaries to utilise the funds effectively to scale their ideas into impactful ventures.
Also speaking, Mohammed Muntari described the initiative as a strategic investment in Nigeria’s future, noting that it bridges the gap between academic knowledge and practical economic impact.
He said the National Assembly remains committed to supporting policies that promote innovation, research, and entrepreneurship among Nigerian youths.
Muntari added that the programme reflects President Bola Ahmed Tinubu’s commitment to empowering students to translate ideas into viable enterprises capable of driving economic growth.
The Student Venture Capital Grant is expected to serve as a catalyst for innovation-led development, positioning Nigeria as a hub for technology-driven solutions and youth enterprise.
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