FG Unveils N50m Equity-free Grant for Tertiary Students
•Opens 1600 training centers across Nigeria for technical, vocational training
•To partner big manufacturers
Kuni Tyessi in Abuja
The federal government has unveiled a N50 million Student Venture Capital Grant (S- VCG), aimed at promoting innovation, research excellence, and entrepreneurship across Nigeria’s tertiary institutions.
This emerged as the Minister of Education, Dr. Tunji Alausa, revealed that over 1.3 million Nigerians have completed applications to benefit from the federal government’s Renewed Technical and Vocational Education Training, with 1600 accredited centers being equipped across the country for that purpose. Besides, the Minister also disclosed that the federal government is now set to further deepen the revitalisation of technical and vocational training in the country, by engaging leading industrial and manufacturing firms in the country as partners in the training.
On the S-VCG, the portal had so far received 17,914 applications from 402 schools, comprising 346 public and 56 private institutions, and over 1,000 applications had actually been submitted.
Speaking at the official launch in Abuja, Alausa said the programme represented a strategic national investment in young innovators and aligns directly with President Bola Tinubu’s Renewed Hope Agenda for Education.
Alausa described the S-VCG as more than a grant scheme, noting that it was designed to identify high-potential ideas from campuses and nurture a culture of creativity and enterprise among students.
He said beneficiaries would receive up to N50 million in equity-free seed funding, alongside intensive incubation, expert mentorship, and access to networks and critical startup-building tools.
The initiative is jointly being implemented by the Federal Ministry of Education and TETFund, in collaboration with the Bank of Industry, Afara Initiative, Afrilabs, the Entrepreneurship and Skills Development Centre, and Google.
According to the minister, the programme is open to full-time students in federal, state, and private tertiary institutions from the third year of their study and above, with younger students allowed as team members.
“The S-VCG is structured to identify exceptional talent, give them a fair and credible opportunity to succeed, and inspire thousands of others to believe in their capacity to innovate.
“We know that many successful founders did not thrive on their first attempt. But their journey began with a spark. This programme exists to light that spark, build a new culture of confidence, and showcase to the world the depth of Nigerian ingenuity.
“Beneficiaries of the S-VCG will receive a comprehensive support package tailored to increase their chances of building viable and scalable ventures,” he said.
Alausa added that eligible ventures must have a CAC-registered business name and be rooted in the Science, Technology, Engineering, Mathematics, and Medical Sciences fields.
He said every application would undergo thorough evaluation, with shortlisted teams pitching before a 12-member expert panel drawn from academia, industry, venture capital, and government.
Participants would receive feedback and may be paired with complementary teams to encourage collaboration and shared innovation.
He stressed that the S-VCG is expected to accelerate research commercialisation, support intellectual property development, and position students to produce high-impact solutions with global relevance.
“Not every idea will become a startup, but some will evolve into patents and licensable technologies capable of significant impact,” he added.
Speaking on the programme overview, National Programme Coordinator, Special Programme Unit of S-VCG, Mr. Adebayo Onigbanjo, said the programme was designed to ignite student-driven innovation and close the investment gaps that had made venture capitalists hesitant to invest in early-stage university ideas.
Also, the former Minister of Power, Prof. Barth Nnaji, whose board awards a $100,000 prize annually for groundbreaking scientific innovation, commended the initiative, noting its alignment with efforts to deepen scientific research and innovation in the country.
“This is how students and their mentors can develop impactful inventions that serve global needs but solve local problems,” he said.
FG Opens 1600 Training Centers Across Nigeria for Technical, Vocational Training
Meanwhile, Alausa has revealed that over 1.3 million Nigerians have completed applications to benefit from the federal government’s Renewed Technical and Vocational Education Training, with 1600 accredited centers being equipped across the country for that purpose.
Besides, the federal government is now set to further deepen the revitalisation of technical and vocational training in the country, by engaging leading industrial and manufacturing firms in the country as partners in the training.
A letter has been sent from the Minister to several manufacturers across the country such as Innoson Vehicle Manufacturing Company, Dangote Cement, LaFarge, Julius Berger, MTN, Airtel, Oando, Transcorp, Marriott, Eko Hotels, TotalEnergies, Obasanjo Farms, R.T Briscoe, Dantata Organisation, Nord Motors and many others.
In the letter, Minister noted that, “as part of our strategic efforts to address Nigeria’s long-standing skills gap and to reposition the workforce in line with the Renewed Hope Agenda of His Excellency, President Bola Ahmed Tinubu, GCFR, the Federal Ministry of Education has launched the National Technical and Vocational Education and Training, TVET Initiative-one of the largest skills development programmes in our nation’s history.”
According to Alausa, “since its formal launch on 30th May, the Initiative has recorded over 1.3 million applications nationwide. Training activities are already underway across 1,600 accredited centres, equipping young Nigerians with practical industry-relevant competencies in priority sectors such as manufacturing, construction, energy, automotive services, agriculture, technology and the digital economy.”
In the letter from the minister to the private sector firms, he further noted that in order to strengthen the quality, reach and sustainability of the initiative, the Ministry respectfully invites members of the private sector through their companies “to partner with us.”
He listed specific areas of the partnership to include, “Provision of company’s suitable facilities for use as accredited training centers; technical support and expert input to enhance curriculum content and industry alignment, and knowledge-exchange initiatives to improve instructional quality and trainer capacity.
Others include, “facilitation of industrial attachments, work placements and other experiential learning pathways for trainees.”
The Minister added that the participation of the companies, “will play a transformative role in building a highly skilled, globally competitive Nigerian workforce capable of driving the nation’s industrialisation agenda.”
Only few days ago, the federal government released the first tranche of payments for the Technical and Vocational Education Training (TVET) by providing monthly stipends of N22,500 to over 42,000 youths.
The money covers upkeep/transport, paying training centers, offering free tuition, and providing startup packs for graduates, as part of a massive skills development drive to train one million Nigerians in practical skills like auto mechanics, welding, and more, under the Renewed Hope Agenda.
