NANS Applauds FG for Launching N50m Student Innovation Grant

The National Association of Nigerian Students (NANS) has praised the Federal Government for unveiling the N50m Student Venture Capital Grant, describing it as a major step toward transforming Nigeria’s education sector into a hub for innovation, entrepreneurship, and global competitiveness.

The Federal Government opened the application portal for the Student Venture Capital Grant (S-VCG) on Monday, offering equity-free funding of up to N50m to support student-led innovative projects.

The initiative was announced in a statement issued by the Federal Ministry of Education and signed by its Director of Press and Public Relations, Folasade Boriowo.

Speaking at the launch, Minister of Education, Tunji Alausa, said the programme is central to the government’s vision for technological and industrial advancement.

“The President has challenged us to search for the next Moonshot within our tertiary institutions. We’re not just looking for projects; we’re searching for future Nigerian Unicorns whose foundations will be built in our universities and colleges. This is an equity-free seed investment in Nigeria’s future,” he said.

The grant targets students working on innovations in Science, Technology, Engineering, Mathematics, and Medical Sciences. Applicants will undergo automated evaluations powered by Google’s Gemini AI and receive a complimentary one-year Gemini Pro licence along with premium learning resources.

The application portal, svcg.education.gov.ng, is now open to students in accredited tertiary institutions. Proposals are expected to show scalability, market potential, and the capacity to address national or global challenges.

NANS Assistant General Secretary, Olajuwon Emmanuel, described the move as both timely and forward-thinking. He noted that the initiative addresses a fundamental gap in Nigeria’s tertiary education system—the absence of structured funding for student innovators.

“By offering equity-free capital of up to N50m, paired with mentorship, incubation, and digital tools, the Federal Government has demonstrated a clear commitment to empowering young Nigerians to build solutions, launch startups, and compete globally,” he said.

He stressed that modern education goes beyond obtaining degrees to developing creativity, skills, and problem-solving ability.

According to him, the S-VCG bridges the divide between academic learning and real-world innovation, giving students the opportunity to turn ideas into scalable ventures. He added that the initiative could help reduce graduate unemployment, boost institutional innovation culture, and strengthen the economy through youth-driven enterprises.

He urged the government to sustain and expand the programme to accommodate students with innovative ideas outside STEMM fields, thereby promoting wider inclusion and tapping Nigeria’s full creative potential.

The S-VCG is designed to turn student-driven concepts into commercially viable, high-impact ventures, aligning with the Renewed Hope Agenda’s priorities of youth empowerment and economic diversification. Successful applicants will receive robust support, including incubation, mentorship, and access to key tools needed to build and scale their startups, ultimately promoting a culture of innovation and job creation among Nigerian youth.