By Ngozi Nwankwo
Federal Government has opened applications for the second cohort of the Student Venture Capital Grant, with 50 student-led ventures set to receive up to ₦50 million each in equity-free funding.
The Minister of Education, Dr. Maruf Tunji Alausa, said the programme reflects President Bola Tinubu’s Renewed Hope Agenda to expand opportunities for young Nigerians and turn innovative ideas into viable enterprises.
The National Project Coordinator of S-VCG, Mr. Adebayo Onigbanjo, disclosed this on Friday during a press briefing ahead of a nationwide campus mobilisation campaign scheduled for September 6–30, 2026.
Onigbanjo said the mobilisation will take the programme directly to students across the country, with focus on those developing solutions in Science, Technology, Engineering, Mathematics and Medicine, STEMM.
The S-VCG team will visit nine tertiary institutions across the six geopolitical zones, including University of Abuja, Nile University, Abubakar Tafawa Balewa University, Bayero University Kano, Kano University of Science and Technology, Federal Polytechnic Nekede, Ambrose Alli University, University of Lagos and Covenant University.
A Campus Ambassador Programme will also be activated in 20 additional institutions to extend awareness.
The ministry urged Vice-Chancellors, Rectors, Provosts and student leaders to identify and encourage promising innovators to apply.
For Cohort 2, the selection process has been strengthened. Applications will undergo AI-assisted screening and assessment by 10 human evaluators. Shortlisted applicants will make virtual presentations before an Evaluation Committee, while finalists will attend a bootcamp and in-person presentations.
A new six-month mentorship programme has also been introduced. Beneficiaries will be linked with business leaders and organisations across technology, logistics, e-commerce, health and education.
Supporting partners include Lafarge, Chowdeck, Powerhouse, HostAfrica, Klasha, LifeBank, Future Africa, GetEquity and OneHealth.
The second cohort builds on the first, which attracted 17,914 registrations from 404 institutions in 36 states and the FCT within three weeks in November 2025.
Of the applicants, 348 were from public institutions and 56 from private institutions, with 52% male and 48% female participation.
Sixty-five finalists advanced to a three-day bootcamp held from March 27–29, 2026, where they pitched to venture capitalists, industry experts and academics.
Known as the “Next Moonshot Initiative,” S-VCG is part of the Ministry’s Nigeria Education Sector Renewal Initiative, NESRI, STEMM pillar. It is implemented with TETFund, Bank of Industry and Afara Initiative.
The programme is open to students in health, agriculture, education, technology, energy, logistics, e-commerce and other STEMM fields.
Applicants must be enrolled in a Nigerian university, polytechnic or college of education, and be at least 300 level or equivalent. Students below 300 level may join as team members.
They must also have a CAC-registered business and a project that has moved beyond proof of concept.
Applications are open at svcg.education.gov.ng and close on September 30, 2026.
Alausa said the ministry will continue to strengthen partnerships with institutions and the private sector to move student ideas “from the classroom to the marketplace,” in line with Tinubu’s commitment to an education system that produces job creators.
