Federal Government launches N2.5bn student venture funding for 50 Nigerian businesses
Nigeria's Federal Ministry of Education starts the second cohort of its Student Venture Capital Grant, promising up to N50 million in equity-free support per student-led company.
The Federal Government has launched nationwide mobilization for the second cohort of its Student Venture Capital Grant (S-VCG). Adebayo Onigbanjo, National Project Coordinator, confirmed at a press briefing on Friday that 50 student-led ventures will receive funding totaling N2.5 billion. Each selected company could get up to N50 million in equity-free capital alongside mentorship and industry connections. The Ministry of Education runs the program, targeting innovative ideas in STEM and medicine fields. From September 6 to 30, 2026, the campaign will visit nine tertiary institutions across Nigeria's six geopolitical zones. Participating schools include the University of Abuja, Bayero University Kano, University of Lagos, and Covenant University Ota. Additionally, a Campus Ambassador Programme will activate at 20 other institutions to broaden awareness. The initiative aims to transition student projects from development stages into viable businesses without diluting ownership.
