The Federal Government is set to launch a new grant initiative aimed at empowering students in Nigeria’s higher institutions to develop innovative, job-creating ventures.
The programme, known as the STEMM Up Grant, will provide startup funding of up to 50 million naira for student-led projects in Science, Technology, Engineering, Mathematics, and Medical Sciences.
According to the Ministry of Education, the initiative officially titled the Sciences, Technology, Engineering, Mathematics, and Medical Sciences Student Venture Capital Grant, or S-VCG will be unveiled in August by the Minister of Education, Tunji Alausa.
Ministry spokesperson Folasade Boriowo disclosed that the programme will support full-time undergraduates in their 300 level and above with not just funding, but also mentorship, incubation, and business development services.
The grant will be managed in partnership with the Bank of Industry to ensure transparency and effective implementation.
Speaking at a stakeholder forum in Abuja, the Minister of State for Education, Suwaiba Sa’id Ahmad, described the initiative as a strategic investment in Nigeria’s knowledge-driven economy.