The Federal Government is set to launch the Sciences, Technology, Engineering, Mathematics, and Medical Sciences Student Venture Capital Grant (S-VCG), a ground-breaking program created to enable students in Nigeria’s postsecondary institutions to create the next generation of scalable, job-creating businesses, in a massive step to promote innovation, entrepreneurship, and economic transformation.
The program, also known as the “STEMM Up Grant,” will be formally unveiled by Honorable Education Minister Dr. Maruf Tunji Alausa, in August.
This was disclosed at an Abuja-based stakeholder engagement workshop. In order to establish a shared path for fostering student-led innovation, the meeting brought together vice chancellors, provosts, rectors, student leaders, academic staff, and development partners.
Education Minister Tunji Alausa, said “S-VCG is not just a grant. It’s a launchpad for bold, young innovators to lead Nigeria’s industrial and technological transformation.
“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 grant targets full-time undergraduate students in STEMM disciplines (Science, Technology, Engineering, Mathematics, and Medical Sciences), specifically those in their 300 level and above.
Read Also
Each selected student-led project will be eligible to receive startup funding of up to ₦50 million, along with access to mentorship, incubation services, and business development support.
The initiative will be implemented in partnership with the Bank of Industry (BOI) to ensure financial transparency, impact measurement, and effective project execution.
Speaking at the session, the Minister of State for Education, Professor Suwaiba Sa’id Ahmad, described the grant 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, adding that the programme’s design was informed by months of consultation with students, faculty, and institutional leaders.
The launch of S-VCG aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritizes inclusive education, youth empowerment, and sustainable economic development.
Participants at the event welcomed the STEMM Up Grant as a timely, strategic, and high-impact initiative that will drive youth innovation, tackle graduate unemployment, and position Nigeria as a hub for student-led entrepreneurship in Africa.
The Ministry reaffirmed its commitment to ensuring inclusive rollout and rigorous monitoring to guarantee that the initiative delivers measurable and lasting impact across Nigeria’s higher education institutions.
