NANS Cheers as FG Rolls Out ₦50 Million Innovation Grant for Students
The National Association of Nigerian Students (NANS) has expressed strong support for the Federal Government’s newly launched Student Venture Capital Grant, a ₦50 million fund aimed at nurturing student-led innovation and entrepreneurship.
Announced by the Minister of Education, Dr. Tunji Alausa, the initiative will particularly target undergraduates in their 300-level and above, who already have viable business models or innovative projects.
According to the ministry, the scheme is part of a broader effort to transition Nigeria’s economy from being resource-driven to knowledge-based, in line with President Bola Tinubu’s “Renewed Hope” agenda.
The grant will not only provide equity-free funding, but also wrap-around support. Beneficiaries will be offered mentorship, incubation services, and access to necessary tools to scale their ventures.
In a significant boost to the programme’s evaluation process, the Ministry of Education has partnered with Google, integrating its Gemini AI technology into the application portal. Selected applicants will receive a one-year free Google Gemini Pro licence and premium learning resources to sharpen their entrepreneurial and technical skills.
NANS sees the grant as a historic opportunity for students across Nigeria’s tertiary institutions, believing it can help turn campus ideas into real-world businesses, and potentially produce Nigeria’s next generation of unicorns.