The Federal Government is set to unveil the Sciences, Technology, Engineering, Mathematics and Medical Sciences Student Venture Capital Grant (S-VCG), also known as the “STEMM Up Grant,” aimed at igniting innovation and entrepreneurship among students in Nigeria’s tertiary institutions.
The initiative, described as a transformative move to empower student-led, job-creating ventures, will be officially launched in August by the Minister of Education, Dr. Maruf Tunji Alausa.
Announced during a stakeholder engagement session in Abuja, the grant programme gathered Vice Chancellors, Rectors, Provosts, student leaders, academic staff, and development partners to discuss strategies for nurturing innovation in higher institutions.
Dr. Alausa said the grant is more than just financial support. “S-VCG is not just a grant. It’s a launchpad for bold, young innovators to lead Nigeria’s industrial and technological transformation,” he stated. “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.”
Targeting full-time undergraduates in STEMM disciplines who are in 300 level and above, the grant will offer up to ₦50 million per student-led project. Beneficiaries will also receive mentorship, incubation services, and business development support to turn their ideas into viable ventures.
The programme will be implemented in collaboration with the Bank of Industry (BOI) to ensure financial transparency, impact measurement, and efficient project delivery.
Speaking at the event, Minister of State for Education, Professor Suwaiba Sa’id Ahmad, described the grant as a strategic 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 by consultations with students, faculty, and institutional leaders.
The “STEMM Up Grant” is part of President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritizes inclusive education, youth empowerment, and sustainable economic development.
Participants at the engagement session praised the initiative as timely and impactful, with the potential to tackle graduate unemployment and position Nigeria as a hub for student-driven innovation in Africa.
The Ministry reaffirmed its commitment to ensuring inclusive rollout and rigorous monitoring to guarantee lasting and measurable impact across Nigeria’s higher education landscape.
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