Nigeria To Launch N50m STEEM Grant To Boost Student Innovation In August.
The Federal Government of Nigeria is set to unveil a N50 million grant initiative to empower students in Science, Technology, Engineering, Mathematics, and Medical Sciences (STEEM) at tertiary institutions, fostering innovation and entrepreneurship. The Student Venture Capital Grant (S-VCG), also known as the STEEM Up Grant, will provide up to N50 million per project to eligible undergraduate innovators, aiming to drive job creation and economic transformation.
The announcement was made by the Minister of Education, Dr Tunji Alausa, during a stakeholder engagement session in Abuja, attended by vice-chancellors, provosts, rectors, student leaders, academic staff, and development partners. Alausa described the initiative as a “launchpad for bold, young innovators to lead Nigeria’s industrial and technological advancement,” emphasising its alignment with President Bola Tinubu’s Renewed Hope Agenda, which prioritises youth empowerment and sustainable development. The grant, scheduled for an official launch on 28 August 2025, targets full-time STEEM students at 300-level and above, offering funding alongside mentorship, incubation services, and business development support.
Professor Suwaiba Sa’id Ahmad, Minister of State for Education, hailed 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, noting that the initiative was shaped by extensive consultations with students, faculty, and institutional leaders. The programme, implemented in partnership with the Bank of Industry (BOI), will ensure transparency and measurable impact, with a focus on scalable solutions in sectors such as technology, healthcare, agriculture, and green energy.
The STEEM Up Grant has been widely welcomed as a timely and high-impact initiative. Stakeholders at the Abuja session praised its potential to tackle graduate unemployment and position Nigeria as a hub for student-led entrepreneurship in Africa. Social media posts on X echoed this enthusiasm, with users urging students to prepare for the opportunity to access “free money to build something real” and create scalable businesses that address real-world challenges.
The Ministry of Education reaffirmed its commitment to an inclusive rollout and rigorous monitoring to ensure lasting impact across Nigeria’s higher education institutions. As the launch date approaches, the STEEM Up Grant promises to empower a new generation of innovators, equipping them with the tools to drive Nigeria’s technological and economic future.
