The Federal Government of Nigeria has awarded ₦2.5 billion in grants to 45 outstanding student ventures at the 2026 Student Venture Capital Grant (S-VCG) Bootcamp and Awards, held at the UNDP Innovation Hub, Lagos. The winners were selected from 65 finalists following a rigorous evaluation process.
Delivering the keynote address, Maruf Tunji Alausa, Honourable Minister of Education, reaffirmed the government’s commitment to transforming tertiary institutions into hubs of innovation, entrepreneurship, and practical problem-solving under the Bola Tinubu-led Renewed Hope Agenda.
“This initiative reflects our vision to nurture student innovators and equip them with the tools and resources needed to create impactful ventures, Beneficiaries can access up to ₦50 million in equity-free funding, mentorship, incubation support, and digital tools to turn their ideas into reality,” Alausa said.
Highlighting the scale of participation, he added,“With over 30,000 applications from 404 institutions, it is clear that Nigeria’s youth are brimming with ideas. Our goal is to provide them the platform to scale their innovations and create solutions that address real-world problems.”
Bosun Tijani, Minister of Communications and Digital Economy, underscored the importance of digital technology:
“Digital innovation is central to the success of these ventures. By equipping students with the right digital tools and skills, we are preparing them to compete locally and globally.”
Innovation advocate Suwaiba Said Ahmad praised the finalists for their creativity and resilience.
“The finalists have shown remarkable determination and ingenuity. They are the future of Nigeria’s innovation ecosystem,” he said.
Other stakeholders, including Muntari Dandutse and Elsie Attafuah, called for sustained investment in youth-driven innovation.
“Investing in these students is investing in the nation’s future. We must provide ongoing support to help their ideas grow into impactful businesses,” Dandutse said.
The Ministry of Education reaffirmed its commitment to nurturing student entrepreneurs and building a pipeline of innovators who will drive sustainable economic growth in Nigeria.