Yemi Obafemi
The Federal Ministry of Education has awarded ₦2.5 billion in grants to 45 student-led ventures at the 2026 Student Venture Capital Grant (S-VCG) Bootcamp and Awards held in Lagos.
The event, which took place at the UNDP Innovation Hub, followed a competitive selection process that saw 65 finalists emerge from more than 30,000 applications submitted by students across 404 tertiary institutions nationwide.
Speaking at the event, the Minister of Education, Maruf Tunji Alausa, said the initiative is part of efforts to reposition higher institutions as centres of innovation and entrepreneurship.
“We are committed to transforming our tertiary institutions into hubs of innovation, entrepreneurship and practical problem-solving,” he said, linking the programme to the policy direction of the Bola Ahmed Tinubu administration.
According to the ministry, each selected venture is eligible to receive up to ₦50 million in equity-free funding, alongside mentorship, incubation support and access to digital tools.
Also speaking, the Minister of Communications and Digital Economy, Bosun Tijani, underscored the role of digital innovation in driving economic growth, while Suwaiba Said Ahmad commended the resilience and creativity demonstrated by the student participants.
Other stakeholders, including Muntari Dandutse and Elsie Attafuah, called for sustained investment in youth-driven innovation to support long-term economic development.
The ministry said the initiative forms part of broader efforts to support student entrepreneurs and build a pipeline of innovators capable of contributing to Nigeria’s economic growth.
