By Hajara Abdullahi
No fewer than 45 students, selected from 65 finalists across private and tertiary institutions, have received N50 million under the Federal Government’s Student Venture Capital Grant (S-VCG).
The initiative was unveiled by the Minister of Education, Tunji Alausa, at the UNDP Innovation Hub on Sunday.
Alausa described the S-VCG as a bold step by the Federal Government toward ensuring that the next wave of global innovation is driven by Nigerian youths.
“Today is not just another programme event. Today, we are activating a new future and a new vision for Nigerian students. Great ideas should not die in classrooms but be nurtured into impactful solutions for our society,” he said.
Reaffirming the government’s commitment to innovation under the administration of Bola Tinubu, he noted that beneficiaries would move from ideation to commercialisation, becoming job creators and driving sustainable national economic growth.
“There is no nation that is productive, progressive and prosperous without universities generating ideas and innovation for societal progress, especially through strong academic and research systems globally recognised,” he added.
The programme attracted over 30,000 applications from more than 400 tertiary institutions nationwide, reflecting strong interest among students across Nigeria’s higher education system.
The minister described the initiative as a national intervention aimed at supporting the incubation of student ideas into products and services with real-world impact.
He also acknowledged partners, including United Nations Development Programme, Google, and Bank of Industry, for supporting the initiative and expanding opportunities for student innovators.
Alausa urged students to leverage the opportunity, noting that successful companies often began as academic ideas that later evolved into global enterprises.
In his remarks, the Minister of Communications and Digital Economy, Bosun Tijani, commended the Federal Ministry of Education for promoting entrepreneurship and innovation in tertiary institutions.
He described the initiative as a shift from theoretical learning to practical problem-solving approaches in education.
“Do small things consistently; they accumulate and become meaningful outcomes, creating value, driving innovation, and building inclusive, sustainable impact for society and future generations,” he said.