The Federal Government is preparing to launch a transformative grant program aimed at sparking innovation and entrepreneurship among students in Nigeria’s tertiary institutions. Known as the STEMM Up Grant, this initiative is designed to empower undergraduates in Science, Technology, Engineering, Mathematics, and Medical Sciences (STEMM) with the resources needed to develop scalable and job-creating ventures.
The Sciences, Technology, Engineering, Mathematics and Medical Sciences Student Venture Capital Grant (S-VCG) will be officially unveiled in August by the Minister of Education, Dr. Maruf Tunji Alausa, CON.
Speaking during a stakeholder engagement in Abuja, Dr. Alausa emphasized that the S-VCG is more than just financial support. “This is a launchpad for our students to lead Nigeria’s technological and industrial advancement. We are equipping young innovators to create real-world solutions in technology, healthcare, agriculture, and clean energy,” he said.
The grant targets full-time undergraduate students in their 300 level and above, who are enrolled in STEMM-related courses. Selected student-led projects will receive funding of up to ₦50 million, alongside mentorship, incubation, and business development support to ensure their success.
To guarantee transparency and impact, the programme will be implemented in collaboration with the Bank of Industry (BOI), which will oversee disbursement and project monitoring.
The Minister of State for Education, Professor Suwaiba Sa’id Ahmad, described the initiative as a strategic investment in Nigeria’s knowledge economy. She highlighted that the programme was developed through months of consultations with students, academic staff, and institutional leaders to address the challenges of graduate unemployment and limited access to startup funding.
The S-VCG is aligned with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which focuses on inclusive education, youth empowerment, and sustainable economic growth.
Participants at the engagement forum praised the STEMM Up Grant as a timely intervention to foster student entrepreneurship, drive innovation, and position Nigeria as a leading hub for youth-led ventures in Africa.
The Ministry of Education assured that the rollout will be inclusive and well-monitored to ensure that the initiative delivers tangible impact across Nigeria’s higher education landscape.
