In a landmark move aimed at empowering young innovators and advancing Nigeria’s knowledge economy, the Federal Government has announced plans to launch the Sciences, Technology, Engineering, Mathematics and Medical Sciences Student Venture Capital Grant (S-VCG) — also known as the STEMM Up Grant.
The initiative, which is scheduled to be formally unveiled on August 28, 2025, was announced by the Minister of Education, Dr. Tunji Alausa, during a high-level stakeholder engagement session held in Abuja. The event brought together Vice Chancellors, Provosts, Rectors, student leaders, academic staff, and development partners in a collective effort to champion student-led innovation and entrepreneurship in Nigerian tertiary institutions.
According to Dr. Alausa, the STEMM Up Grant represents a bold, strategic step under President Bola Ahmed Tinubu’s GCFR Renewed Hope Agenda to foster youth-driven innovation and job creation across the country.
“The S-VCG is more than just a grant — it is a launchpad for our brightest students to lead Nigeria’s technological and industrial transformation. We are equipping them with the resources to dream, build, and solve real-world problems — from technology and medicine to agriculture and renewable energy,” said the Minister.
Targeting full-time undergraduate students in STEMM disciplines — particularly those in 300 level and above — the grant offers up to ₦50 million per student-led project. Beneficiaries will also receive access to incubation services, mentorship, and business development support.
The initiative will be implemented in partnership with the Bank of Industry (BOI), a strategic move designed to ensure transparency, measurable outcomes, and effective project delivery.
Also speaking at the event, the Minister of State for Education, Professor Suwaiba Sa’id Ahmad, described the grant as a strategic investment in Nigeria’s future. She noted that the programme was designed through months of extensive consultations with students, faculty members, and stakeholders across the education sector.
“Through the STEMM Up Grant, we aim to combat graduate unemployment, stimulate youth innovation, and position Nigeria as a leading hub for student-led enterprise in Africa,” Prof. Ahmad stated.
Dr. Alausa reaffirmed the Ministry’s commitment to ensuring an inclusive rollout and robust monitoring framework to guarantee long-term impact.
“Let us work together to unlock the brilliance of our young people. The future of Nigeria is not only in the classroom — it lies in the ideas our students dare to pursue,” he concluded.
The STEMM Up Grant is expected to spark a new wave of entrepreneurial activity across Nigerian campuses, with far-reaching implications for the economy and youth development in the country.
