FG to Launch N50m Grant for Students in Science and Tech

The Federal Government is set to introduce a ₦50 million venture grant aimed at students in tertiary institutions, targeting those studying science, technology, engineering, mathematics, and medical sciences.

The programme is designed to boost innovation, entrepreneurship, and job creation across the country.

The new initiative, called the Sciences, Technology, Engineering, Mathematics and Medical Sciences Student Venture Capital Grant (S-VCG), will provide student-led projects with both funding and mentorship. The grant is expected to officially launch in August in Abuja, according to the Federal Ministry of Education.

Minister of Education, Dr. Olatunji Alausa, said the goal is to help Nigerian students develop scalable solutions to real-life problems while creating jobs and advancing the economy. The focus will be on students in their third year and above who are enrolled full-time in science and tech-related disciplines.

Each selected project will receive up to ₦50 million in start-up capital. In addition to funding, students will also have access to incubation centres, expert mentoring, and business development support to help them bring their ideas to life and scale them commercially.

The programme will be run in partnership with the Bank of Industry to ensure transparency, accountability, and long-term impact. The government believes the S-VCG will serve as a launchpad for student innovators, helping them lead Nigeria’s next wave of industrial and technological progress.

Vice-chancellors, provosts, rectors, student leaders, and education partners are being called on to support and participate in the programme’s rollout to ensure it reaches students across all regions.

Minister of State for Education, Professor Suwaiba Sa’id Ahmad, described the initiative as a long-term investment in the country’s knowledge economy. She said the grant is part of a broader plan to encourage youth innovation, reduce graduate unemployment, and build a stronger economy through student-led entrepreneurship.

She also confirmed that the ministry is working to make the selection process inclusive, with clear criteria and proper oversight to ensure the grants are used effectively in institutions nationwide. The programme was developed after consultations with students, educators, and university leadership.

The government sees this as a crucial step in shifting from theoretical learning to hands-on innovation that can solve practical problems and create opportunities for the next generation of Nigerian entrepreneurs.