The Federal Government of Nigeria has announced plans to unveil the Sciences, Technology, Engineering, Mathematics, and Medical Sciences Student Venture Capital Grant (S-VCG), also known as the STEMM Up Grant, a bold new initiative aimed at empowering student innovators in the country’s tertiary institutions.
The program, which will be formally launched in August 2025 by the Minister of Education, Dr. Maruf Alausa, is a first-of-its-kind venture capital grant tailored specifically for full-time undergraduate students in STEMM fields.
According to a statement by Folasade Boriowo, Director of Press at the Federal Ministry of Education, the announcement was made during a high-level stakeholder engagement session held in Abuja. The session convened Vice Chancellors, Provosts, Rectors, student leaders, faculty, and development partners to discuss the programme’s rollout and objectives.
“S-VCG is not just a grant. It’s a launchpad for bold, young innovators to lead Nigeria’s industrial and technological transformation,” said Dr. 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.”
Up to ₦50 Million for Student-Led Startups
The grant targets 300-level and above undergraduate students in Science, Technology, Engineering, Mathematics, and Medical Sciences (STEMM) disciplines. Each selected student-led venture will be eligible to receive up to ₦50 million in startup capital.
In addition to funding, beneficiaries will gain access to mentorship, incubation services, and business development support, giving them a comprehensive foundation to scale their ideas into viable enterprises.
The initiative will be implemented in partnership with the Bank of Industry (BOI), which will oversee fund disbursement, ensure financial transparency, and provide oversight for impact measurement.
Also speaking at the session, Minister of State for Education, Professor Suwaiba Ahmad, described the STEMM Up 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. “This programme was developed through extensive consultation with students, faculty, and institutional leaders.”
She emphasized that the initiative aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritizes inclusive education, youth empowerment, and sustainable economic development.
Participants at the Abuja engagement welcomed the S-VCG initiative, calling it a timely and high-impact intervention capable of tackling graduate unemployment, spurring student-led innovation, and positioning Nigeria as a continental leader in youth entrepreneurship.
The Ministry assured that the programme will undergo rigorous monitoring and an inclusive rollout strategy to ensure that it delivers lasting impact across Nigeria’s higher education system.
