The Federal Government has disbursed ₦2.25 billion to 45 student innovators under the Student Venture Capital Grant (SVCG), in a major effort to boost youth entrepreneurship and drive innovation across Nigeria’s tertiary institutions.
The initiative, launched under President Bola Ahmed Tinubu’s administration, saw winners emerge from over 30,000 applicants drawn from more than 400 institutions nationwide, with grants presented after a three-week innovation bootcamp in Lagos.
Minister of Education, Tunji Alausa, said the programme signals a shift in policy—transforming universities from centres of certification into hubs of innovation and enterprise aligned with the government’s “Renewed Hope” agenda.
He explained that beneficiaries would receive equity-free funding, mentorship, and access to digital tools to scale their ideas into viable businesses, adding that the scheme is designed to move students from ideation to commercialisation.
The Minister of State for Education, Suwaiba Ahmad, described student entrepreneurship as critical to job creation and economic growth, noting that graduates must evolve into job creators capable of solving real-world challenges.
The programme is being implemented in collaboration with partners including the United Nations Development Programme, Google and the Bank of Industry.
Officials say the initiative aims to build a pipeline of young entrepreneurs, strengthen Nigeria’s innovation ecosystem, and channel the energy of its youth population into sustainable economic development.
Reporting by Victor Okiche
