Nigeria’s Student Venture Capital Grant has recorded at least 30,639 registrations from 404 tertiary institutions, as the government expands campus support intended to turn student ideas into businesses.
The Federal Ministry of Education’s program page, dated Oct. 4, lists 65 finalists from 39 universities and 3,631 final-stage applications. The grant supports students in science, technology, mathematics, engineering and medical fields. Each team may receive as much as 50 million naira without giving up equity, and the program includes mentoring and capacity-building assistance. The ministry says it aims to help students develop commercially viable products and names the Bank of Industry and TETFund as collaborators.
The ministry named 45 student ventures as grant winners in 2026. The University of Lagos said eight recipients were from the university and each received the full 50 million naira award.
More than 11,000 students had taken part in the university’s Entrepreneurship, Innovation and Business Incubation Certification program by Sept. 16, the University of Lagos said; it introduced the program in 2024. On Oct. 7, the university hosted the program’s national rollout as the first of 14 selected universities to go live. Full national implementation is scheduled for the 2026-27 academic session.
The National Universities Commission said a 2006 government directive introduced entrepreneurship education into university General Studies curricula in response to rising unemployment. The commission said it established a Department of Student Support Services in May 2007 to support implementation.
A Nov. 6 feature by BusinessDay described students building businesses in technology, fashion, food, agriculture and creative industries. The outlet quoted Asika Eloho, who holds a University of Lagos master’s degree in Entrepreneurship Development and Innovation Management, saying: “Entrepreneurship requires more than passion and hard work; it requires structured planning, sound financial management, innovation, among others.”
The reported figures cover registrations, finalists, grant recipients and training participation. They do not give a nationwide total of active student businesses or jobs created.
