The Federal Government has launched the Student Venture Capital Grant, a groundbreaking national initiative designed to deepen research excellence, empower student innovators, and strengthen entrepreneurship across Nigeria’s tertiary institutions. The launch, held in Abuja, reflects President Bola Ahmed Tinubu’s Renewed Hope Agenda and signals a decisive shift toward an innovation driven education system.
Speaking at the ceremony, the Honourable Minister of Education, Dr Maruf Tunji Alausa, described the programme as a bold investment in student creativity and enterprise. He explained that the Grant offers up to fifty million naira in equity free seed funding for student led ventures with potential for global scale. Students will also receive structured incubation, expert mentorship, innovation tools, and access to academic, industry, and investment networks.
Dr Alausa noted that the programme is open to full time students in federal, state, and private tertiary institutions, particularly those in Science, Technology, Engineering, Mathematics, and Medical Sciences. Ventures must operate under registered business names and will be evaluated by a twelve member expert panel drawn from academia, venture capital, industry, and the public sector. He added that the initiative aims to turn university campuses into innovation hubs capable of producing patents, licensable technologies, and market ready solutions.
He further announced strong interest since the portal opened on 17 November, with thousands of applications already submitted. Applications close on 23 January 2026 after which shortlisted teams will pitch before the expert panel. He commended partners including TETFund, the Bank of Industry, Afara Initiative, Afrilabs, Google, and other high impact organisations for shaping the programme.
In her remarks, the Honourable Minister of State for Education, Professor Suwaiba Saidu Ahmad, described the Grant as a transformative platform that addresses long standing gaps in student innovation. She emphasised that campuses are living laboratories where solutions to national challenges should emerge, yet many brilliant student projects lacked funding and support. She said the Grant provides equity free capital, incubation, modern tools, and an AI powered evaluation system that promotes fairness and competitiveness.
The Minister of State for Agriculture, Dr Aliyu Sabi Abdullahi, praised the initiative for aligning with national goals such as food security. He highlighted the potential of student led agricultural innovations and encouraged the Ministry to ensure timely disbursement free from bureaucratic delays.
The Chairman of the House of Representatives Committee on University Education, Hon Abubakar Aminu Suleiman Fulata, commended the programme for accelerating Nigeria’s transition from inherited colonial education structures to a model driven by national development and industrialisation. He encouraged the Ministry to consider expanding opportunities to include arts and social sciences.
The Special Adviser to the President on Media and Communications applauded the Ministry for boldly leading the government’s entry into venture capitalism, long dominated by the private sector. He urged students to seize the opportunity to create transformative solutions.
The Permanent Secretary of the Federal Ministry of Education, Mr Abel Eniitan Olumuyiwa, represented by Director legal service commended the Grant as a milestone in the Ministry’s reform agenda. He reaffirmed the Ministry’s readiness to provide administrative leadership that ensures accountability, timely implementation, and long-term sustainability.
Former Minister of Power, Professor Barth Nnaji, who oversees an annual one hundred thousand dollar prize for scientific innovation, praised the initiative for strengthening research, technology, and scientific discovery. He stated that the Grant will empower students and mentors to produce globally relevant inventions that address local challenges.
Providing programme statistics, the National Programme Coordinator, Mr Adebayo Onigbanjo, announced that the portal has received seventeen thousand nine hundred and fourteen entries from four hundred and two institutions, including three hundred and forty six public and fifty six private institutions. He explained that the programme is designed to close longstanding investment gaps and build investor confidence in early stage university innovations.
In his goodwill message, the President of the National Association of Nigerian Students, Comrade Olushola Oladoja, praised President Tinubu’s student centred reforms and noted improved stability in the education sector. He said the administration’s engagements with student leaders have facilitated faster resolutions to issues and created an environment where students feel heard.
The Federal Ministry of Education reaffirms its commitment to supporting innovative ideas, strengthening student capabilities, and building systems that empower young Nigerians to shape the nation’s future.
Signed
Boriowo Folasade
Director, Press and Public Relations
