Three undergraduate students of the University of Ilorin (UNILORIN) have secured a combined ₦150 million under the Federal Government Students Venture Capital Grant (FG-SVCG) scheme, earning commendation from the University’s Vice-Chancellor, Professor Wahab Olasupo Egbewole, SAN, for their outstanding entrepreneurial innovations.
The students, who each received ₦50 million in venture capital funding to scale their startups, were formally presented to the Vice-Chancellor by the Director of the University’s Technical and Entrepreneurship Centre (TEC), Professor Usman Adebimpe Raheem, during a reception held at the Vice-Chancellor’s Committee Room.
Congratulating the beneficiaries, Professor Egbewole described the achievement as a significant milestone for the University and a clear demonstration of its commitment to nurturing entrepreneurship, innovation and enterprise development among students.
He noted that the success of the three undergraduates reflects the effectiveness of the University’s entrepreneurship ecosystem, which encourages students to develop practical solutions capable of addressing societal challenges while creating employment opportunities and contributing to national economic growth.
According to the Vice-Chancellor, the Federal Government’s recognition of the students’ business ideas further validates the quality of innovation emerging from the University of Ilorin.
He encouraged the beneficiaries to utilise the grants responsibly by transforming their ideas into sustainable enterprises capable of making meaningful contributions to their respective industries and the Nigerian economy.
Professor Egbewole also urged other students to embrace entrepreneurship alongside academic pursuits, stressing that higher education institutions are increasingly expected to produce not only graduates but also innovators, job creators and business leaders.
The three beneficiaries represent diverse academic disciplines and technology-driven ventures.
One of the awardees, Shehu Abdulrahman Magobon, a 600-level student of Optometry and Vision Science, secured funding for Vecta, an innovative startup aimed at delivering solutions within the healthcare and vision technology space.
Also recognised was Abdulrasaq Abdulrasaq Alatare, a 400-level Information Technology student, whose startup, FaceTrust, focuses on digital identity and security solutions using emerging technologies.
The third beneficiary, Abdullahi Usman Babatunde, also a 400-level Information Technology student, received funding for OmiChain, an innovation designed to leverage technology in addressing challenges within the water sector through digital solutions.
The Federal Government Students Venture Capital Grant programme is designed to identify and support promising student-led startups across Nigerian tertiary institutions by providing funding, mentorship and opportunities to commercialise innovative ideas.
The initiative aligns with ongoing efforts to strengthen entrepreneurship education, promote research commercialisation and encourage young innovators to transform creative ideas into viable businesses capable of driving national development.
The latest achievement further reinforces the University of Ilorin’s growing reputation as a hub for innovation, entrepreneurship and academic excellence, with increasing numbers of its students gaining national recognition for technology-driven solutions and enterprise development initiatives.
