Abuja, Nigeria – The Nigerian Government is set to introduce a groundbreaking initiative, the Sciences, Technology, Engineering, Mathematics and Medical Sciences Student Venture Capital Grant (S-VCG), aimed at empowering tertiary students to develop scalable, job-creating ventures. The program, also known as the “STEMM Up Grant,” is scheduled for a formal launch in August by the Minister of Education, Maruf Tunji Alausa.
According to Boriowo Folashade, Director of Press at the Ministry of Education, the Minister unveiled these plans during a recent stakeholder engagement session held in Abuja. The forum convened an array of key figures, including Vice Chancellors, Provosts, Rectors, student leaders, academic staff, and development partners, to collectively chart a course for student-led innovation in the country.
Dr. Alausa articulated the vision behind the initiative, stating, “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 Minister specified that the initiative targets full-time undergraduate students in STEMM fields—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, coupled with access to mentorship, incubation services, and business development support. The program will be implemented in partnership with the Bank of Industry, ensuring 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 remarked, adding that the program’s design is the culmination of months of extensive consultation with students, faculty, and institutional leaders.
Professor Ahmad further emphasized that the S-VCG launch aligns seamlessly with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritizes inclusive education, youth empowerment, and sustainable economic development.
Participants at the engagement session largely welcomed the STEMM Up Grant, hailing it as a timely and high-impact initiative with the potential to significantly drive youth innovation, mitigate graduate unemployment, and position Nigeria as a leading hub for student-led entrepreneurship across Africa.
The Ministry of Education reaffirmed its commitment to an inclusive rollout and robust monitoring mechanisms to ensure the initiative delivers measurable and lasting impact across Nigeria’s higher education institutions, fostering a new generation of entrepreneurs and innovators.
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