FG Launches ₦50 Million Grant to Boost Student Innovation

The Federal Government of Nigeria has opened applications for a new scheme offering up to ₦50 million in equity‑free grants to support student-led ventures in Nigerian tertiary institutions.

Dubbed the Student Venture Capital Grant (S‑VCG), the initiative targets undergraduate students, particularly those in 300‑level and above, with business ideas or innovations in Science, Technology, Engineering, Mathematics, and Medical Sciences (STEMM).

Beyond funding, the S‑VCG also provides participants with incubation, mentorship from industry professionals, access to tools and resources to scale their projects, and a one‑year licence for Google Gemini Pro to aid development.

The Federal Ministry of Education said the scheme is part of a broader push to transform Nigeria’s universities from purely academic institutions into incubators for innovation and enterprise, aiming to nurture future Nigerian unicorns from within campuses.

Eligible students are encouraged to apply through the official portal and submit proposals that demonstrate market potential, scalability, and the ability to address real‑world challenges.