Dr. Tunji Alausa, Honourable Minister of Education, has announced the Federal Government’s plan to unveil the Sciences, Technology, Engineering, Mathematics and Medical Sciences Student Venture Capital Grant (S-VCG).
The Minister said, the initiative is designed to empower students in the country’s tertiary institutions to “build scalable, job-creating ventures”.
A Press Statement by Dr. Tunji Alausa reads: “As Minister of Education, I am proud to announce that the Federal Government is set to unveil the Sciences, Technology, Engineering, Mathematics and Medical Sciences Student Venture Capital Grant (S-VCG) — a bold and forward-thinking initiative designed to empower students in Nigeria’s tertiary institutions to build scalable, job-creating ventures.
“Also known as the “STEMM Up Grant,” this initiative will be formally unveiled on August 28th. It represents a giant stride toward stimulating innovation, entrepreneurship, and sustainable economic transformation in line with President Bola Ahmed Tinubu’s GCFR Renewed Hope Agenda.
“This announcement was made during a high-level stakeholder engagement session in Abuja, which brought together Vice Chancellors, Provosts, Rectors, student leaders, academic staff, and development partners to chart a unified course toward nurturing student-led innovation.
“The S-VCG is not just a grant — it’s a launchpad for bold, young innovators to lead Nigeria’s industrial and technological advancement. We are giving our students the tools to dream, build, and scale solutions that solve real-world challenges — from technology and medicine to agriculture and green energy.
“The grant targets full-time undergraduate students in STEMM disciplines — specifically those in their 300 level and above. Each selected student-led project will be eligible to receive up to ₦50 million in startup funding, along with access to mentorship, incubation services, and business development support.
“This initiative will be implemented in partnership with the Bank of Industry (BOI) to ensure transparency, measurable impact, and effective project execution.
“At the event, my colleague, the Minister of State for Education, Professor Suwaiba Sa’id Ahmad, rightly described the grant as a strategic investment in Nigeria’s knowledge economy. She noted that this initiative was shaped through months of thoughtful consultation with students, faculty, and leaders across the education sector.
“Through the STEMM Up Grant, we aim to tackle graduate unemployment, drive youth innovation, and position Nigeria as a continental hub for student-led entrepreneurship.
“The Ministry remains fully committed to an inclusive rollout and rigorous monitoring to ensure that this initiative delivers lasting impact across our higher education system.
“Let us work together to unlock the brilliance of our young people. The future of Nigeria is not only in the classroom — it’s in the ideas our students dare to pursue.”
