The Federal Government has opened applications for the second cohort of its Student Venture Capital Grant, offering up to N50 million in equity-free funding to 50 outstanding student-led ventures across Nigeria.
Adebayo Onigbanjo, the National Coordinator of the Special Programme Operations and Implementation Unit (SPOI) at the Federal Ministry of Education, announced the opening of applications at a news conference in Abuja on Friday.
The programme, also known as the Next Moonshot Initiative, is designed to support student entrepreneurs with Science, Technology, Engineering and Mathematics (STEM)-based business ideas.
Applications for the second cohort will close on September 30, 2026.
Onigbanjo said the government is seeking strong applications from student innovators across the country, from which 50 ventures will be selected.
Successful applicants will be eligible to receive up to N50 million each in equity-free grants to develop and scale their businesses.
He said the initiative aligns with President Bola Tinubu’s Renewed Hope Agenda and forms part of the Ministry of Education’s Nigeria Education Sector Renewal Initiative (NESRI), particularly its STEM pillar.
According to Onigbanjo, the government wants to create an environment where students can transform innovative ideas into viable businesses. “Nigeria does not lack innovative young people. What many lack is the opportunity and capital to take these ideas further.”
He added that universities, polytechnics and colleges of education should increasingly serve as environments where ideas are developed, solutions created and businesses launched.
Applications will first undergo Artificial Intelligence-assisted screening, after which 10 human evaluators will assess the submissions.
Shortlisted applicants will make virtual presentations before finalists proceed to a three-day boot camp and pitch their ventures in person to an evaluation committee.
Beyond the funding, successful ventures will receive a six-month mentorship programme supported by corporate and entrepreneurial organisations.
The listed partners include Lafarge, Cellulant/Childtech, Powerhouse, Co-Creation Hub/African Stalking, LifeBank, Future Africa, GetEquity and One Health.
To expand awareness and access, the Student Venture team and its partners will embark on a nationwide application roadshow from September 6 to September 30.
The campaign will visit nine tertiary institutions across Nigeria’s six geopolitical zones. They include the University of Abuja, Nile University, Abubakar Tafawa Balewa University, Bayero University Kano, Kano University of Science and Technology, Federal Polytechnic Kaduna, Ambrose Alli University, University of Lagos and Covenant University.
The government will also activate a Campus Ambassador Programme across 20 additional tertiary institutions.
