The Federal Government has awarded ₦2.5 billion in grants to 45 outstanding student-led ventures, marking a significant intervention aimed at strengthening youth innovation and entrepreneurship across Nigeria’s tertiary institutions.
The beneficiaries were selected from over 30,000 applications submitted nationwide, following a rigorous multi-stage screening process designed to identify the most promising and scalable student innovations.
According to the government, 65 finalists were shortlisted for the bootcamp, out of which 45 ventures ultimately emerged as successful recipients of the grant after a highly competitive evaluation.
Speaking at the 2026 Student Venture Capital Grant (S-VCG) Bootcamp and Awards held at the UNDP Innovation Hub in Lagos on Monday, the Minister of Education, Maruf Alausa, said the initiative forms part of the Federal Government’s broader strategy to reposition tertiary institutions as centres of innovation, enterprise development, and practical problem-solving.
He explained that the programme is designed to bridge the gap between academic learning and real-world application by equipping students with entrepreneurial skills and access to enabling resources.
Alausa disclosed that each selected venture is eligible to access up to ₦50 million in equity-free funding, in addition to structured mentorship, incubation support, and access to digital tools that will help them refine, scale, and commercialise their ideas.
According to him, the objective is to ensure that student innovations are not only supported at the ideation stage but are also guided towards becoming sustainable businesses capable of generating employment and contributing to national development.
Also speaking at the event, the Minister of Communications and Digital Economy, Bosun Tijani, underscored the importance of digital innovation in accelerating Nigeria’s economic transformation, noting that technology-driven solutions remain critical to competitiveness in the global economy. In her remarks, Suwaiba Said Ahmad commended the finalists for their resilience, creativity, and commitment throughout the selection process.
Other stakeholders, including Muntari Dandutse and Elsie Attafuah, urged sustained investment in youth-led innovation, stressing that consistent support for young entrepreneurs is essential for long-term economic growth and national development.
The Ministry of Education reaffirmed its commitment to nurturing a new generation of student entrepreneurs and building a robust pipeline of innovators capable of driving Nigeria’s economic growth and positioning the country as a hub for creative and technological advancement.
