FG student innovation grant disburses N2.25bn to 45 students, supporting technology-driven solutions and entrepreneurship across Nigerian tertiary institutions

The Federal Government on Sunday disbursed N2.25bn to 45 student innovators across Nigeria’s tertiary institutions as part of the Student Venture Capital Grant initiative.

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Minister of Education, Dr Tunji Alausa, alongside the Minister of State for Education, Prof Suwaiba Ahmad, presented the cheques to beneficiaries at the UNDP Innovation Hub, Ikoyi, Lagos.

The SVCG allows students to access up to N50m in equity-free funding to develop student-led businesses and technological innovations.

The University of Lagos led the awards, with eight of its students each receiving N50m for projects focused on Artificial Intelligence and other technology-driven solutions.

Other winning institutions included the University of Ilorin, Federal University of Technology Minna, Lagos State University, and Bayero University, Kano.

Addressing attendees, Alausa called on tertiary institutions to shift from theory-based teaching to fostering innovation. “For too long, our tertiary institutions have been seen primarily as centres for certification.

Under the leadership of President Bola Tinubu, we are redefining that narrative. Our institutions must now become centres of innovation, engines of enterprise and launchpads for global solutions,” he said.

Alausa emphasised the programme’s broader purpose, noting that student innovations should aim to impact society, not merely profit.

“Students will not only acquire theoretical understanding, but they will operate at the highest levels of Bloom’s taxonomy, applying transformative critical thinking and research skills to solve real societal problems,” he said.

Minister of Communications and Digital Economy, Bosun Tijani, urged students to persevere despite setbacks and continually develop their ideas to benefit society.

Senate Committee on Tertiary Institutions and TETFund Chairman, Muntari Dandutse, stressed the importance of bridging theory and practice to foster entrepreneurship and scalable businesses.

National Programme Coordinator, Mr Adebayo Adebajo, revealed the Federal Government aims to attract 200,000 applications for the next SVCG cohort.

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The initiative underscores Nigeria’s commitment to positioning students as innovators, job creators, and drivers of economic transformation.