The Federal Government has awarded a total of ₦2.2 billion in grants to 45 exceptional student-led ventures following the successful conclusion of the Student Venture Capital Grant (S-VCG) Bootcamp.
Speaking at the event, Minister of State for Education, Dr. Tunde Alausa, expressed pride in the initiative, describing it as a significant milestone in empowering young Nigerian innovators.
The highly competitive programme attracted over 30,000 applications from 404 tertiary institutions across the country. After a rigorous selection process, 65 finalists emerged, with 45 ultimately receiving grants for their innovative and solution-driven ventures.
According to Dr. Alausa, the winners represent a diverse mix of federal, state, and private institutions, with a notable majority coming from public universities—highlighting the widespread presence of talent and innovation across Nigeria.
A standout moment at the event was the strong performance of students from the University of Lagos, which produced eight winners. Many of these beneficiaries participated in the Entrepreneurship, Innovation & Business Incubation Certification (EIBIC) programme, an initiative designed to transform student ideas into viable enterprises.
“The vision behind EIBIC is not just to teach entrepreneurship, but to build founders, innovators, and problem-solvers,” Dr. Alausa stated.
He further emphasized that the Student Venture Capital Grant goes beyond financial support, describing it as a vote of confidence in Nigeria’s next generation of innovators.
Dr. Alausa also acknowledged the contributions of key partners, including the Bank of Industry Nigeria, Afara Initiative, and Elsie Attafuah of the United Nations Development Programme, as well as the panel of judges and evaluators whose efforts ensured a transparent and merit-based selection process.
He congratulated the 45 winners and commended the 65 finalists, noting that their achievements reflect the promising future of innovation in Nigeria.
“The next generation of Nigerian innovators is already here—and they are just getting started,” he concluded.
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