FG to Launch N50m Stemm Student Grant for Innovation and Job Creation

The Federal Government has announced plans to unveil a new student-focused initiative — the Sciences, Technology, Engineering, Mathematics, and Medical Sciences Student Venture Capital Grant, otherwise known as S-VCG.

Described as a “pioneering initiative,” the programme is aimed at empowering students in tertiary institutions across Nigeria to develop scalable, job-creating ventures that can drive innovation and economic growth. It forms part of the administration’s broader strategy to foster entrepreneurship and transform the nation’s economy.

According to a statement released Friday by the spokesperson of the Ministry of Education, Folasade Boriowo, the initiative — also branded as the “STEMM Up Grant” — will be formally launched in August by the Minister of Education, Tunji Alausa.

She said the upcoming programme was revealed during a stakeholder engagement session held in Abuja, which brought together university vice chancellors, polytechnic rectors, provosts, student leaders, academic staff, and development partners. The session focused on mapping out a shared strategy for advancing student-led innovation in Nigeria’s higher education landscape.

The grant, which will be delivered in partnership with the Bank of Industry (BOI), promises strict financial oversight, robust impact measurement, and transparent execution.

“S-VCG is not just a grant. It’s a launchpad for bold, young innovators to lead Nigeria’s industrial and technological transformation,” said Alausa. “We are giving our students the tools to dream, build, and scale solutions that solve real-world problems — from tech and medicine to agriculture and green energy.”

The programme targets full-time undergraduate students in STEMM disciplines who are in their 300-level or higher. Selected student-led ventures will be eligible to receive up to ₦50 million in startup funding, along with mentorship, incubation services, and business development support.

Speaking at the event, the Minister of State for Education, Suwaiba Sa’id Ahmad, described the S-VCG as a critical investment in Nigeria’s knowledge economy. “We’re building a stronger, more competitive future by supporting innovation from the ground up,” she said, noting that the initiative was shaped through extensive consultations with students, faculty, and higher education leaders.

The Federal Government emphasized that the programme is in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which places a strong focus on inclusive education, youth empowerment, and long-term economic sustainability.