The federal government has opened a new chapter in implementing the Student Venture Capital Grant (S-VCG) and has disbursed N2.25billion to 45 students of tertiary institutions across the country.

‎The minister of education, Dr. Tunji Alausa, on Sunday along with other dignitaries which had Minister of State for Education, Prof. Suwaiba Ahamd, Minister of Communications, Innovation and Digital, Economy Dr. Bosun Tijani, Chairman, Senate Committee on TETFund, Senator Mohammed Muntari, in attendance presented the cheques of N55million each to the students, in what signals a new chapter.

‎The event which was held in Lagos was the climax as the students were in a bootcamp for three weeks. The 45 winners were part of 65 students that made it to the final and participated in the bootcamp.

‎Alausa noted that over 30,000 applications were received from students from more than 400 tertiary institutions across the nation. He described the Student Venture Capital Grant (S-VCG), as another transformative student programme from the Federal Ministry of Education

‎“Today is not just another programme event. We are activating a new future. A new vision for Nigerian students. Our institutions must now become

‎centres of Innovation, engines of Enterprise and launchpads for Global Solutions.

‎”The S-VCG is one of the boldest steps we have taken to bring this vision to life. This is because this Government believes in the goodness of the Nigerian Student. We believe in you and your innate abilities,” said the minister.

‎Alausa noted that tertiary institutions for a long time have been seen principally as centres for certification but under the leadership of President Bola Tinubu, and in line with the Renewed Hope Agenda, the narrative was being redefined.

‎The minister added that the S-VCG is designed to unlock the potential of Nigerian students, adding that through the programme students can access up to N50 million in equity-free funding, receive structured incubation and mentorship, and benefit from cutting-edge digital tools and AI-enabled evaluation systems.

‎He added that the student venture capital grant will strengthen Nigeria’s innovation ecosystem across universities, polytechnics, and colleges of education, build a pipeline of young entrepreneurs and job creators and position Nigeria as a hub for deep-tech and innovation-driven growth.

‎Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, lauded the Federal Ministry of Education for introducing the student venture capital grant and advised the winners to utilise the grant appropriately.

‎Chairman, Senate Committee on TETFund, Senator Mohammed Muntari, lauded President Tinubu for his commitment to youths and for empowering Nigerian students to generate ideas and commercialise them.

(LEADERSHIP)

Update news