The Federal Government is set to introduce the Sciences, Technology, Engineering, Mathematics, and Medical Sciences Student Venture Capital Grant (S-VCG), a bold initiative aimed at equipping students in Nigeria’s tertiary institutions to develop scalable, job-creating ventures.
Known as the “STEMM Up Grant,” the programme will be officially launched in August by the Minister of Education, Tunji Alausa. This move is part of the administration’s broader commitment to stimulate innovation, entrepreneurship, and national economic growth.
According to Folasade Boriowo, spokesperson for the Ministry of Education, the announcement was made during a stakeholder engagement in Abuja attended by vice chancellors, rectors, student leaders, and development partners. The initiative will be implemented in collaboration with the Bank of Industry (BOI) to guarantee transparency and effectiveness.
“S-VCG is not just a grant. It’s a launchpad for bold, young innovators to lead Nigeria’s industrial and technological transformation,” Alausa said.
Targeted at full-time undergraduate students in STEMM fields who are in 300-level and above, the initiative offers selected student-led projects up to ₦50 million in funding. Recipients will also gain access to mentorship, incubation, and business development support.
Minister of State for Education, Suwaiba Sa’id Ahmad, described the project as a “strategic investment in Nigeria’s knowledge economy,” stressing the importance of supporting innovation from the ground up.
The government highlighted that the initiative aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which emphasizes inclusive education, youth empowerment, and sustainable development.
What You Should Know
The S-VCG is a landmark initiative offering up to ₦50 million to undergraduate STEMM students in Nigeria. It aims to fuel innovation and entrepreneurship, directly supporting President Tinubu’s vision for economic transformation through youth-driven technological advancement.
