Nigeria’s innovation landscape received a major boost as the Federal Government awarded a total of ₦2.2 billion in grants to 45 outstanding student ventures at the 2026 Student Venture Capital Grant (S-VCG) Finalist Bootcamp, Closing Ceremony and Awards Presentation held at the UNDP Office in Ikoyi, Lagos. At the end of an intensive and highly competitive process, the winners emerged from a pool of 65 finalists whose business proposals were rigorously assessed by a 12-member panel of experts.
Delivering the keynote address, the Honourable Minister of Education, Moruf Tunji Alausa, reaffirmed the Federal Government’s commitment to transforming tertiary institutions into hubs of innovation, entrepreneurship, and practical problem-solving. He described the S-VCG initiative as a key driver of the Renewed Hope Agenda of President Bola Ahmed Tinubu, designed to empower students to translate ideas into impactful ventures.
The Minister noted that beneficiaries of the programme can access up to ₦50 million in equity-free funding, alongside mentorship, incubation support, and cutting-edge digital tools. He further highlighted the overwhelming national response to the initiative, with over 30,000 applications received from 404 tertiary institutions, underscoring the depth of creativity and innovation among Nigerian youth.
In his remarks, the Honourable Minister of Communications and Digital Economy, Bosun Tijani, commended the students for their ingenuity and effective integration of technology into business solutions. He emphasized the critical role of digital innovation in national development and encouraged participants to continue building scalable, technology-driven solutions to real-world challenges.
Earlier, the Honourable Minister of State for Education, Suwaiba Sa’id Ahmad, praised the finalists for their resilience, creativity, and commitment. She noted that initiatives such as the S-VCG are instrumental in fostering a culture of innovation and equipping students with essential problem-solving skills.
Also speaking, Senator Muntare Dandutse, Chairman of the Senate Committee on Tertiary Education and TETFund, called for sustained investment in youth-driven innovation to strengthen Nigeria’s knowledge economy.
Providing an overview of the programme, Mr. Adebayo Onigbanjo, National Project Coordinator of the Special Programmes Operations and Implementation Unit, outlined its structure, objectives, and long-term impact. He explained that the initiative is designed to equip students with the resources, knowledge, and confidence needed to build sustainable and scalable ventures.
Reflections from the bootcamp were shared by Okujagu and Lantana Elhassan, who highlighted the transformative nature of the experience, the practical skills acquired, and the collaborative learning environment that strengthened participants’ entrepreneurial capacity.
Goodwill messages were delivered by key partners and stakeholders, including Elsie G. Attafuah, Resident Representative of the United Nations Development Programme (UNDP), who applauded the students’ forward-thinking ideas and encouraged continued contributions to sustainable development. Professor Bart Nnaji also commended the students for their ingenuity and commitment to innovation.
The highlight of the ceremony was the official presentation of grants by the Honourable Minister of Education alongside distinguished members of the high table. In his remarks, Dr. Alausa formally announced the 45 winning ventures, commending their innovation, determination, and potential to address critical societal challenges.
Speaking on behalf of the awardees, Itsuokor Marvellous of Pallo – B2B Codebase Scanning System expressed profound appreciation to the Federal Government for its unwavering support through the S-VCG initiative. He described the grant as a defining moment for all beneficiaries, noting that it represents far more than funding, but also a powerful endorsement of their ideas and potential. He emphasized that the support will enable the winners to move beyond concepts and prototypes, transforming their innovations into practical, real-world solutions capable of delivering lasting social and economic impact.
Delivering the Vote of Thanks on behalf of the Managing Director and Chief Executive Officer of the Bank of Industry, Dr. Olasupo Olusi, Mr. Oluwatoyin Edu, Executive Director, MSME, expressed gratitude to the organisers, partners, and participants for their contributions to the success of the programme. He also commended the passion, creativity, and commitment demonstrated by the young innovators.
The 2026 S-VCG Finalist Bootcamp and Awards Presentation successfully showcased the immense potential of Nigerian students, reinforcing the Federal Ministry of Education’s vision of nurturing a new generation of entrepreneurs, innovators, and change-makers poised to drive national development.
Boriowo Folasade
Director, Press and Public Relations
