The Federal Government has awarded a total of N2.2 billion in grants to 45 student-led ventures at the 2026 Student Venture Capital Grant (S-VCG) Finalist Bootcamp and Awards Ceremony held in Lagos.
The funding, announced at the closing event hosted at the UNDP Office in Ikoyi, followed a rigorous selection process that saw 45 winners emerge from 65 finalists assessed by a 12-member panel of experts.
This was disclosed in a statement by the Ministry of Education’s Director, Press and Public Relations, Folasade Boriowo, on Monday, March 30.
Speaking at the event, the Minister of Education, Moruf Tunji Alausa, said the initiative underscores the government’s commitment to transforming tertiary institutions into centres of innovation and enterprise.
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He described the S-VCG programme as a critical component of President Bola Tinubu’s Renewed Hope Agenda, aimed at equipping students with the tools to convert ideas into viable businesses.
Alausa noted that beneficiaries could access up to N50 million each in equity-free funding, alongside mentorship, incubation support, and access to digital tools.
He added that the programme attracted over 30,000 applications from 404 tertiary institutions nationwide, reflecting the growing depth of youth-driven innovation.
Also speaking, the Minister of Communications and Digital Economy, Bosun Tijani, commended the participants for integrating technology into their business ideas, urging them to continue building scalable solutions capable of addressing real-world challenges.
In her remarks, the Minister of State for Education, Suwaiba Sa’id Ahmad, praised the finalists for their resilience and creativity, noting that initiatives like the S-VCG are vital in fostering a culture of innovation and strengthening problem-solving skills among students.
Chairman of the Senate Committee on Tertiary Education and TETFund, Senator Muntare Dandutse, called for sustained investment in youth innovation, stressing its importance to Nigeria’s knowledge economy.
Providing an overview of the programme, the National Project Coordinator of the Special Programmes Operations and Implementation Unit, Adebayo Onigbanjo, said the initiative is designed to equip young innovators with the resources, knowledge, and confidence needed to build sustainable ventures.
Participants at the bootcamp also shared their experiences, describing the programme as transformative and highlighting the practical skills and collaborative environment that enhanced their entrepreneurial capacity.
Delivering goodwill messages, the UNDP Resident Representative, Elsie G. Attafuah, and former Minister of Power, Professor Bart Nnaji, commended the students for their forward-thinking ideas and commitment to innovation.
Speaking on behalf of the beneficiaries, Itsuokor Marvellous of Pallo – B2B Codebase Scanning System expressed appreciation to the Federal Government, describing the grant as a defining moment.
He said the support represents not just funding but validation of their ideas, adding that it would enable them to transform concepts into practical solutions with lasting impact.
