In a bold move to drive innovation, entrepreneurship, and economic transformation, the Federal Government is set to unveil the Sciences, Technology, Engineering, Mathematics and Medical Sciences Student Venture Capital Grant (S-VCG), also known as the “STEMM Up Grant.”
The initiative, aimed at empowering students in Nigeria’s tertiary institutions to develop scalable, job-creating ventures, will be formally launched on 28 August by the Minister of Education, Maruf Tunji Alausa.
The announcement was made during a stakeholder engagement session held in Abuja, which brought together Vice Chancellors, Rectors, Provosts, student leaders, academic staff, and development partners to chart a collective path for nurturing student-led innovation.
“S-VCG is not just a grant. It’s a launchpad for bold, young innovators to lead Nigeria’s industrial and technological transformation,” Dr Alausa said. “We are giving our students the tools to dream, build, and scale solutions that solve real-world problems — from tech and medicine to agriculture and green energy.”
The programme targets full-time undergraduate students in STEMM disciplines from 300 level and above. Selected student-led projects will be eligible for startup funding of up to ₦50 million, along with access to mentorship, incubation, and business development support.
The initiative will be implemented in partnership with the Bank of Industry (BOI) to ensure financial transparency, impact assessment, and effective project delivery.
Also speaking at the event, Minister of State for Education, Professor Suwaiba Sa’id Ahmad, described the programme as a strategic investment in Nigeria’s knowledge economy.
“We’re building a stronger, more competitive future by supporting innovation from the ground up,” she said, noting that the scheme was the result of extensive consultations with students, faculty, and education stakeholders.
The S-VCG programme aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises inclusive education, youth empowerment, and sustainable economic development.
Participants at the session hailed the STEMM Up Grant as a timely and impactful intervention that would tackle graduate unemployment, drive youth-led innovation, and position Nigeria as a continental leader in student entrepreneurship.
The Ministry of Education reaffirmed its commitment to inclusive rollout and rigorous monitoring to ensure the initiative delivers measurable, long-term impact across Nigeria’s higher education landscape.
