The Federal Government has disbursed ₦2.25 billion to 45 students across tertiary institutions in Nigeria as start up funding under the newly introduced Student Venture Capital Grant programme.

The presentation of the grants took place at the conclusion of a three week bootcamp held in Lagos, where cheques were handed over to the selected students by the Minister of Education, Olatunji Alausa, alongside the Minister of State for Education, Suwaiba Ahmad, the Minister of Communications, Innovation and Digital Economy, Bosun Tijani, and Senator Mohammed Muntari.

A total of 65 students advanced to the final stage of the programme after emerging from over 30,000 applicants drawn from more than 400 tertiary institutions nationwide.

Alausa described the initiative as a transformative programme aimed at repositioning tertiary institutions as centres of innovation, enterprise and solution development, rather than solely institutions for certification.

He said the Student Venture Capital Grant aligns with the Federal Government’s broader economic vision under the Renewed Hope Agenda of President Bola Tinubu.

According to him, the initiative is designed to unlock student potential by providing up to ₦50 million in equity free funding, alongside mentorship, incubation support and access to advanced digital and artificial intelligence based evaluation tools.

He added that the programme will help strengthen Nigeria’s innovation ecosystem, support the development of young entrepreneurs and position the country as a hub for technology driven growth.

Alausa urged participants to see themselves as creators of solutions, stressing that national progress depends on the ability to generate ideas rather than only consume them.

The Minister of Communications, Innovation and Digital Economy, Bosun Tijani, commended the Ministry of Education for the initiative and advised the beneficiaries to make prudent use of the funds.

Senator Mohammed Muntari also expressed support for the programme, noting that it reflects President Tinubu’s commitment to empowering Nigerian students to develop and implement innovative ideas.