The Federal Ministry of Education has awarded ₦2.2 billion in grants to 45 outstanding student ventures, recognising young Nigerians turning innovative ideas into practical solutions.
The University of Lagos emerged as the top-performing institution, with eight of its students among the winners.
The awards followed the Student Venture Capital Grant (S-VCG) Bootcamp, which received over 30,000 applications from students across 404 tertiary institutions nationwide. After a rigorous evaluation process, 65 finalists were selected, with 45 ultimately receiving funding to develop their projects into real-world solutions.
Dr. Tunji Alausa, the Minister of Education, praised the University of Lagos students, noting that many of them participated in the Entrepreneurship, Innovation and Business Incubation Certification (EIBIC) programme.
He said the platform helps students move from ideas to fully operational ventures. “EIBIC is not just about teaching entrepreneurship. It is about building founders, innovators, and builders,” he stated.
The winning ventures represent federal, state, and private universities, demonstrating that entrepreneurial talent exists across the country. The grants aim to provide students with the support needed to transform their innovative ideas into impactful solutions.
Dr. Alausa added that the S-VCG programme is more than funding. It reflects a belief in the next generation of Nigerian innovators. “The winners represent the future of Nigeria,” he said, commending all finalists for demonstrating creativity, vision, and commitment to driving change.
The Ministry acknowledged the contributions of the panel of evaluators and judges in selecting the most promising ventures. Partners including BOI Nigeria, Afara Initiative, and Elsie Attafuah of UNDP were recognised for their support in making the programme successful.
Winners will receive funding to further scale their ventures, while all finalists are encouraged to continue refining their projects. The initiative highlights the Ministry’s commitment to nurturing young entrepreneurs and promoting innovation across Nigerian tertiary institutions.
With the University of Lagos leading the winners, the S-VCG awards showcase the growing culture of entrepreneurship among students and underscore Nigeria’s potential to develop world-class innovators.
