The Federal Government has announced plans to unveil a ₦50 million grant initiative aimed at empowering undergraduate students in Science, Technology, Engineering, Mathematics, and Medical Sciences (STEMM) to develop scalable, job-creating ventures.
Known as the STEMM Up Grant or Sciences, Technology, Engineering, Mathematics and Medical Sciences Student Venture Capital Grant (S-VCG), the initiative will officially be launched in August by the Minister of Education, Dr. Maruf Alausa.
According to a statement issued by the Director of Press at the Federal Ministry of Education, Folasade Boriowo, the announcement was made during a stakeholder engagement held in Abuja. The session brought together Vice Chancellors, Rectors, Provosts, student leaders, academic staff, and development partners to discuss strategies for fostering student-led innovation across Nigerian tertiary institutions.
“S-VCG is not just a grant; it’s a launchpad for bold, young innovators to lead Nigeria’s industrial and technological transformation. We are giving our students the tools to dream, build, and scale solutions that solve real-world problems — from tech and medicine to agriculture and green energy,” Alausa stated.
Targeting full-time undergraduate students in 300 level and above, the grant will support student-led projects in STEMM disciplines with up to ₦50 million in funding. Beneficiaries will also gain access to mentorship, incubation services, and business development support.
The initiative will be implemented in collaboration with the Bank of Industry to ensure transparency, effective project execution, and impact assessment.
Minister of State for Education, Professor Suwaiba Ahmad, described the programme as a strategic investment in Nigeria’s knowledge economy. “We’re building a stronger, more competitive future by supporting innovation from the ground up,” she said.
Prof. Ahmad added that the design of the initiative followed months of consultations with students, academic staff, and institutional leaders. She emphasised that the S-VCG aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises inclusive education, youth empowerment, and sustainable development.
Participants at the engagement session welcomed the STEMM Up Grant as a timely and impactful initiative to address graduate unemployment, foster innovation, and position Nigeria as a hub for student-driven entrepreneurship in Africa.
The Ministry pledged to ensure an inclusive rollout and robust monitoring framework to maximise the initiative’s long-term impact across Nigeria’s higher institutions.
