In a bold move to harness the innovative potential of Nigerian students and reduce graduate unemployment, the Federal Government has announced the imminent launch of the Sciences, Technology, Engineering, Mathematics, and Medical Sciences Student Venture Capital Grant (SVCG), also known as the STEMM Up Grant.
The groundbreaking initiative, which will be officially unveiled on August 28, is designed to empower full-time undergraduate students in STEMM disciplines across the country’s tertiary institutions. According to the Minister of Education, the SVCG will provide selected student-led projects with startup grants of up to ₦50 million, as well as access to mentorship, business incubation, and development services.
“The SVCG is not just a grant, it’s a launchpad for bold, young innovators to lead Nigeria’s industrial and technological advancement,” the Minister said at a high-level stakeholder engagement in Abuja on Thursday. “We are giving our students the tools to dream, build, and scale solutions that solve real-world challenges from technology and medicine to agriculture and green energy.”
The initiative is a major component of President Bola Ahmed Tinubu’s Renewed Hope Agenda and aligns with the administration’s commitment to stimulating innovation, entrepreneurship, and sustainable economic transformation.
Thursday’s stakeholder meeting brought together Vice Chancellors, Rectors, Provosts, student union leaders, academic staff, and development partners to deliberate on the implementation framework and shared responsibility for ensuring success.
According to the Ministry, the STEMM Up Grant will be available to students in their 300 level and above who are actively pursuing degrees in STEMM-related fields. It will be delivered in partnership with the Bank of Industry (BOI) to ensure transparency, proper oversight, and impactful execution.
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 knowledge economy,” adding that it was the result of extensive consultations with students, faculty, and education stakeholders.
“This is not just about money; it’s about igniting the spirit of innovation and entrepreneurship in our youth. We want Nigerian students to become job creators and global changemakers,” she stated.
The Ministry of Education reiterated its commitment to an inclusive rollout process and emphasized that rigorous monitoring and evaluation mechanisms will be deployed to track the impact of the grants and ensure accountability.
With the launch of the SVCG, Nigeria moves one step closer to becoming a continental hub for student-led innovation, where the classroom becomes a cradle of solutions and students are empowered not just to graduate, but to transform their communities and industries.
