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BY ABU-SATAR HAMED
FCT, ABUJA, NIGERIA – In a major step toward stimulating innovation, entrepreneurship, and economic growth, the Federal Government is set to introduce the Sciences, Technology, Engineering, Mathematics, and Medical Sciences Student Venture Capital Grant (S-VCG).
The pioneering initiative is designed to empower students across Nigeria’s tertiary institutions to develop scalable enterprises that can create jobs and drive national transformation.
Widely referred to as the “STEMM Up Grant,” the programme represents one of the most ambitious government-backed efforts to position Nigerian students as builders of the next generation of innovative businesses.
According to the Ministry of Education, the initiative will be formally unveiled on Thursday, August 28, 2025, by the Honourable Minister of Education, Dr. Maruf Tunji Alausa, CON.
This was made known during a stakeholder engagement session held in Abuja. The session convened Vice Chancellors, Provosts, Rectors, Students leaders, academic Staff, and development partners to chart a collective course 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,” said Dr. Alausa. “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. 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, GCFR, 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.
