The Nigerian government has shortlisted 65 student innovators from 30,639 applicants across 404 tertiary institutions nationwide for the final stage of the Student Venture Capital Grant (S-VCG), a flagship initiative of President Bola Ahmed Tinubu, GCFR, designed to accelerate high-impact student-led ventures and strengthen Nigeria’s innovation-driven economy.
The milestone highlights the depth of innovation, creativity and entrepreneurial potential within Nigeria’s university ecosystem, with students developing scalable solutions across sectors critical to national development.
Announcing the development, the Minister of Education, Dr Maruf Olatunji Alausa, in a statement by the Director of Press of the ministry, Boriowo Folasade, described the initiative as a strategic investment in Nigeria’s next generation of innovators and job creators, noting that the outcome reflects the growing creativity and entrepreneurial capacity of Nigerian students.
“The quality and ambition demonstrated by these 65 student innovators are deeply encouraging. This stage marks a significant milestone, and I eagerly anticipate the next phase as we refine and prepare these ventures for scale. Through this initiative, we are building a strong pipeline of innovators and entrepreneurs who will drive Nigeria’s future growth,” he said.
According to him, the Student Venture Capital Grant, launched in December 2025 in partnership with the Bank of Industry (BOI), provides up to ₦50 million in equity-free funding to support student-led ventures that have reached the commercialisation stage. He stresses that the initiative is designed to enable student entrepreneurs to scale innovative solutions, stimulate job creation, and contribute to innovation-driven economic growth.
He said that the 65 finalists were chosen through a clear and thorough process, starting with AI screening to check if the applications were eligible, complete, and matched the program’s goals, followed by checks by independent people to make sure everything was accurate and fair.
“Shortlisted ventures were subsequently reviewed by an evaluation committee comprising representatives from government, industry, academia and the investment ecosystem, using structured criteria focused on scalability, feasibility, founder capability, and impact potential.
“As the programme enters its final stage, the selected innovators will participate in an intensive venture development bootcamp from 26 to 29 March 2026, featuring pitch sessions, venture development workshops, live venture evaluations and investor-style feedback to strengthen each venture’s readiness for growth and investment. Final grant decisions will be based on application scores, bootcamp performance and the deliberations of the evaluation committee,” he said
He said the programme will culminate in the Student Venture Capital Grant Beneficiary Awards Day, scheduled for Sunday, 29 March 2026, from 2:00 PM to 4:00 PM, where recipients of the ₦50 million venture funding will be formally announced, adding that the milestone reinforces the Federal Ministry of Education’s commitment to promoting innovation, supporting student entrepreneurship and building a pipeline of scalable ventures capable of driving Nigeria’s economic transformation.