The National Association of Nigerian Students (NANS) has applauded the Federal Government for introducing the N50 million Student Venture Capital Grant (S-VCG), describing it as a major step toward boosting innovation, entrepreneurship and competitiveness within Nigeria’s education sector.
The grant, which opened for applications on Monday, offers equity-free funding of up to N50 million to support groundbreaking, student-led projects across the country. The announcement was made in a statement from the Federal Ministry of Education, released by its Director of Press and Public Relations, Folasade Boriowo.
Speaking at the launch, the Minister of Education, Tunji Alausa, said the initiative aligns with the government’s broader innovation agenda.
According to him, “The President has challenged us to discover the next Moonshot from our tertiary institutions. We are looking for future Nigerian unicorns innovators whose roots will be grown right here in our universities and colleges. This grant is an equity-free investment in Nigeria’s future.”
The grant is designed for students creating solutions in STEMM fields—Science, Technology, Engineering, Mathematics and Medical Sciences.
Applicants will undergo automated project evaluations supported by Google’s Gemini AI, and will also receive a free one-year Gemini Pro licence plus premium learning resources to enhance their work.
The application portal is now live at svcg.education.gov.ng, and eligible students in accredited tertiary institutions are encouraged to submit proposals that show scalability, real-world relevance, and the potential to solve important national or global problems.
Reacting to the development, NANS Assistant General Secretary, Olajuwon Emmanuel, praised the government for finally addressing a long-standing gap in the tertiary education system which gave access to structured funding for student innovators.
He noted that providing equity-free capital and additional support such as mentorship, incubation and digital tools shows the government’s renewed commitment to empowering young Nigerians to build solutions and compete globally.
He said: “This is the kind of support that helps students turn ideas into viable startups. It nurtures future inventors, job creators and industry leaders. It can also reduce graduate unemployment and stimulate economic growth through youth-led enterprises.”
Emmanuel encouraged the government to expand the scheme beyond STEMM disciplines so students with innovative ideas in other fields can also benefit.
“Broadening the programme will ensure inclusiveness and unlock the full creative potential of Nigerian youth,” he added.
The S-VCG is part of the Federal Government’s broader plan to promote youth empowerment and economic diversification under the Renewed Hope Agenda.
Successful applicants will receive not just funding but also incubation, guidance and access to tools needed to grow their ideas into sustainable, high-impact ventures that fostering a stronger culture of innovation and entrepreneurship across Nigeria’s tertiary institutions.
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