The Federal Government has awarded a total of ₦2.5 billion in grants to 45 outstanding student-led ventures at the 2026 Student Venture Capital Grant (S-VCG) Bootcamp and Awards, held at the UNDP Innovation Hub.
This was revealed in a press statement signed by Boriowo Folasade, Director, Press and Public Relations, Federal Ministry of Education.
According to the statement, the grants were presented after a rigorous selection process that saw 65 finalists emerge from over 30,000 applications submitted by students across 404 tertiary institutions nationwide, an indication of the country’s growing innovation ecosystem.
Speaking at the event, the Minister of Education, Maruf Tunji Alausa, reaffirmed the Federal Government’s commitment to repositioning tertiary institutions as centres of innovation, entrepreneurship and practical problem-solving.
He said the initiative aligns with the Renewed Hope Agenda of President Bola Ahmed Tinubu, aimed at driving economic growth through youth empowerment and enterprise development.
According to the minister, each selected venture is eligible to access up to ₦50 million in equity-free funding, in addition to mentorship opportunities, incubation support and access to digital tools designed to scale their ideas into viable businesses.
Also speaking, the Minister of Communications and Digital Economy, Bosun Tijani, stressed the critical role of digital innovation in shaping Nigeria’s future economy, urging young entrepreneurs to leverage technology to solve local challenges.
In her remarks, Suwaiba Said Ahmad commended the resilience, creativity and determination displayed by the participating students throughout the bootcamp.
Other stakeholders, including Muntari Dandutse and Elsie Attafuah, called for sustained investment in youth-driven innovation, noting that such initiatives are crucial to building a resilient and diversified economy.
The Ministry of Education reiterated its commitment to supporting student entrepreneurs and developing a strong pipeline of innovators capable of driving Nigeria’s long-term economic transformation.
