Abuja, Nov. 17, 2025 – The federal government is to provide up to N50 million grant to student enterpreurs through a new Students’ Venture Capital Grant (S-VCG) scheme.
Tunji Alausa, the Minister of Education, said the federal government had already opened an application portal for scheme and advised eligible Nigerian students enrolled in accredited tertiary institutions to apply.
Folasade Boriowo, the Director of Press and Public Relations in the Federal Ministry of Education, disclosed this in a statement on Monday.
The statement quoted the minister as saying that the S-VCG is aimed at transforming student-driven ideas into commercially viable, high-impact ventures.
He said the S-VGC was also designed to cultivate a new generation of Nigerian entrepreneurs capable of redefining the nation’s economic future.
“The President has challenged us to look for the next Moonshot within our tertiary institutions.
“We are not just looking for projects; we are scouting for future Nigerian unicorns whose roots will be planted right here in our universities and colleges.
“This is an equity-free seed investment in Nigeria’s future,” he said.
The minster said the scheme would offer up to N50million in equity-free grants to student founders with innovations in Science, Technology, Engineering, Mathematics, and Medical Sciences (STEMM) fields.
He successful applicants would be absorbed into a comprehensive support ecosystem that include intensive incubation programmes.
Successful applicants would also benefit from expert mentorship from seasoned entrepreneurs and industry leaders, full access to tools, platforms and resources required to develop and scale their startups.
“This strategic structure ensures that funded ventures are not only launched but are supported to successfully transition into market-ready enterprises.
“To position Nigerian students at the forefront of global innovation, the ministry is partnering with Google to integrate advanced technology into the S-VCG application and evaluation process.
“Through this partnership, Google’s Gemini AI powers custom-built “evaluation agents” embedded directly into the application portal to ensure fair, intelligent, and efficient review of submissions.
“Additionally, every applicant who successfully submits a business project or innovation will receive a one-year free Google Gemini Pro license, along with premium learning resources aimed at strengthening their entrepreneurial and technical capabilities,” he said.
