The Federal Government of Nigeria will launch a new venture capital grant in August 2025 to support student innovators in tertiary institutions. Known as the STEMM Up Grant, or Sciences, Technology, Engineering, Mathematics, and Medical Sciences Student Venture Capital Grant (S-VCG), this initiative aims to fund bold student-led startups with up to ₦50 million each.
To kick things off, Dr. Maruf Alausa, the Minister of Education, will officially launch the program. The government revealed the plan during a stakeholder meeting in Abuja, attended by university heads, student leaders, faculty, and development partners.
According to Dr. Alausa, the grant goes beyond just giving money — it equips students with the tools to create real-world solutions in areas such as medicine, agriculture, green energy, and technology.
He explained, “S-VCG is a launchpad for young innovators to drive Nigeria’s growth in industry and tech. We want our students to dream big, build solutions, and scale businesses that solve real problems.”
STEMM Up Grant Offers ₦50 Million, Mentorship, and Business Support
Specifically, the government designed the grant for 300-level and above undergraduate students in STEMM fields. Along with the ₦50 million, students will also receive:
- Mentorship
- Business development support
- Startup incubation services
As a result, these resources will help young innovators grow their ideas into strong, successful businesses.
Moreover, the Bank of Industry (BOI) will partner with the Ministry to manage the grant. BOI will handle fund disbursement, maintain financial transparency, and track the program’s results.
A Strategic Push for Youth Innovation and Employment
In addition, Professor Suwaiba Ahmad, the Minister of State for Education, described the STEMM Up Grant as a smart investment in Nigeria’s knowledge-based economy.
She said, “We are building a stronger and more competitive country by supporting student innovation from the ground up.”
Furthermore, Prof. Ahmad noted that the program aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritizes inclusive education, youth empowerment, and sustainable development.
Meanwhile, participants at the Abuja meeting praised the initiative as a powerful step toward reducing graduate unemployment and boosting innovation in Nigeria’s higher institutions.
Finally, the Ministry of Education promised Nigerians that it will ensure proper monitoring and an inclusive rollout strategy, so the program creates lasting impact across the country.ent the grant with proper monitoring and an inclusive rollout to make sure the program delivers long-term impact across the country.
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