The Federal Government has disbursed ₦2.25 billion in venture capital grants to 45 student-led startups selected from across Nigeria’s tertiary institutions under the Student Venture Capital Grant (S-VCG) programme. The beneficiaries emerged from a pool of 65 shortlisted student innovators, who were earlier selected from over 30,000 applicants across more than 400 universities, polytechnics and colleges nationwide. The awards were presented at the UNDP Innovation Hub in Ikoyi, Lagos, marking the culmination of the programme’s first cohort aimed at supporting student entrepreneurs with up to ₦50 million each in equity-free funding to scale their ideas into viable businesses.
The initiative is being implemented by the Federal Ministry of Education, with support from partners including the Bank of Industry (BOI), the United Nations Development Programme (UNDP) and global technology stakeholders. According to the Minister of Education, Dr. Tunji Alausa, the programme represents a major shift in Nigeria’s education policy, repositioning tertiary institutions as centres of innovation, enterprise and economic development rather than just certification hubs.
The 45 winning ventures were selected after completing an intensive venture development bootcamp held from March 26 to March 29, 2026, where the finalists refined their ideas, participated in entrepreneurship workshops and pitched their startups before a panel of industry experts and investors. Final selections were based on the scalability, feasibility and societal impact of each innovation, with many of the projects leveraging technology such as artificial intelligence to solve real-world challenges.
The programme targets full-time students in Nigerian tertiary institutions, particularly those developing solutions in key sectors including technology, agriculture, healthcare and sustainability. By providing funding, incubation support, mentorship and access to digital tools, the S-VCG is designed to help students move from campus ideas to commercially viable enterprises, while building a pipeline of young innovators capable of driving economic diversification.
The initiative aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which seeks to harness Nigeria’s youthful population for innovation-driven growth.
The scheme will enable graduates to become job creators rather than job seekers, strengthen Nigeria’s startup ecosystem and position the country as a hub for youth-led innovation and entrepreneurship.
