Muhammed Abubakar, Reporting
ABUJA — The Federal Government has unveiled a significant enhancement to its Student Venture Capital Grant (S-VCG), introducing a six-month mentorship track as the headline addition to the programme’s second cohort, pairing successful applicants with established organisations and industry leaders across technology, logistics, e-commerce, healthcare, education and other critical sectors.
The National Project Coordinator of the S-VCG, Adebayo Onigbanjo, announced the update at a press briefing in Abuja, confirming that a nationwide campus mobilisation drive would run from September 6 to 30, 2026, aimed at raising awareness of the second cohort and encouraging students to develop STEMM solutions — in science, technology, engineering, mathematics and medicine — ready for application.
The outreach initiative will target nine campuses spread across Nigeria’s six geopolitical zones: the University of Abuja, Nile University, Abubakar Tafawa Balewa University in Bauchi, Bayero University Kano, Kano University of Science and Technology in Wudil, Federal Polytechnic Nekede in Owerri, Ambrose Alli University in Ekpoma, the University of Lagos, and Covenant University in Ota.
To broaden the programme’s reach further, a Campus Ambassador Programme will be activated in 20 additional institutions to disseminate information and attract more applicants.
Onigbanjo said the Federal Ministry of Education is calling on Vice-Chancellors, Rectors, Provosts, lecturers and student leaders to identify promising innovators on their campuses and guide them through the application process.
This edition comes with more rigorous vetting procedures. Submissions will first undergo AI-assisted screening, followed by review from a panel of ten human assessors. Candidates who make the cut will pitch virtually to an Evaluation Committee, with those advancing attending a bootcamp and delivering in-person presentations to a final jury.
Backing the grant are major partners including Lafarge, Chowdeck, Powerhouse, HostAfrica, Klasha, LifeBank, Future Africa, GetEquity, OneHealth and others.
The redesign reflects the agenda of the Minister of Education, Dr. Maruf Tunji Alausa, who wants student founders to receive more than just capital — specifically guidance, industry connections and hands-on business support to help them grow.
The second round builds directly on the success of the maiden edition. When applications opened in November 2025, the programme pulled 17,914 registrations from 404 tertiary institutions across all 36 states and the Federal Capital Territory within just three weeks. Of that total, 348 came from public schools and 56 from private institutions.
Participation split 52 per cent male and 48 per cent female. Following screening, 3,014 completed applications were evaluated using AI tools and the same ten-person human panel.
That process produced 65 finalists who took part in a three-day S-VCG Bootcamp from March 27 to 29, 2026, pitching before venture capitalists, industry experts and academic leaders.
The S-VCG, branded as the “Next Moonshot Initiative,” sits under the Ministry’s Nigeria Education Sector Renewal Initiative, specifically the STEMM pillar focused on research, innovation and entrepreneurship. Implementation is being delivered in partnership with the Tertiary Education Trust Fund, the Bank of Industry and the Afara Initiative.
The programme is open to students developing solutions in health, agriculture, education, technology, energy, logistics, e-commerce and other STEMM areas. Applicants must be enrolled in a Nigerian university, polytechnic or college of education and be in 300 level or higher, or the equivalent. Students below 300 level may join as team members under a qualified lead applicant.
Other requirements include a Corporate Affairs Commission (CAC)-registered business name or company, and an innovation that has moved beyond proof-of-concept with clear commercial potential.
Applications for cohort two are open now and close on September 30, 2026.
The grant forms part of President Bola Ahmed Tinubu’s Renewed Hope Agenda to equip young Nigerians with practical pathways to turn ideas into viable businesses. Under the plan, 50 student-led ventures will each receive up to ₦50 million in equity-free funding.
The Ministry says it will continue deepening ties with schools, development partners and the private sector to help transform classroom projects into growth-stage enterprises that contribute meaningfully to Nigeria’s economy.
