The Federal Government has awarded ₦50 million each to 45 student innovators drawn from public and private tertiary institutions nationwide, in what officials describe as one of the boldest state-backed bets on youth-led innovation in Nigeria.

The beneficiaries emerged from 65 finalists under the new Student Venture Capital Grant, S-VCG, after a rigorous three-day boot camp at the UNDP Innovation Hub in Ikoyi, Lagos, where they pitched their ideas to a panel of industry experts. More than 30,000 students from over 400 universities, polytechnics and colleges of education had applied for the programme.

Minister of Education, Tunji Alausa, said the initiative signals a decisive shift in education policy from paper qualifications to problem-solving and enterprise. He described the S-VCG as a “bold declaration” that the next wave of global innovation will be driven by Nigerian youth.

According to him, the grant provides equity-free capital alongside mentorship, incubation support and access to digital tools, enabling students to move from classroom concepts to market-ready products. Target sectors include agriculture, healthcare, logistics, financial technology and other areas critical to national development.

Alausa stressed that the goal is to transform campuses from “certification centres” into hubs of innovation and economic activity, producing graduates who are job creators rather than job seekers. He argued that no nation can be productive and prosperous without universities that generate ideas and technologies for societal progress.

Minister of State for Education, Prof Suwaiba Ahmad, said student entrepreneurship has become a strategic tool for job creation and growth, noting that more undergraduates are now building businesses while still in school. She described the boot camp as the end of an intensive training phase and the beginning of a more demanding journey of execution.

Minister of Communications and Digital Economy, Bosun Tijani, praised the programme as a move away from purely theoretical learning. He urged the young innovators to prioritise building sustainable solutions over chasing prize money, advising them to “do small things consistently” and allow their efforts to compound over time.

UNDP Resident Representative, Elsie Attafuah, said the agency remains committed to supporting Nigeria’s innovation ecosystem. She told the beneficiaries that the grant is not a finish line but a launchpad, challenging them to refine their ideas, respond to market realities and build solutions that deliver measurable impact for the country.