The Federal Government has opened applications for the second cohort of its Student Venture Capital Grant, offering up to ₦50 million each to 50 outstanding student-led ventures across Nigeria.
The initiative, also known as the Next Moonshot Initiative, is designed for student entrepreneurs with Science, Technology, Engineering and Mathematics (STEM)-based business ideas.
Applications opened following an announcement by the National Coordinator, Special Programme Operations and Implementation Unit at the Federal Ministry of Education, Adebayo Onigbanjo, at a news conference in Abuja on Friday.
Onigbanjo said the government was seeking quality applications from student innovators nationwide, with 50 outstanding ventures to be selected.
Successful applicants will be eligible to receive up to ₦50 million in equity-free grants to develop and scale their businesses.
According to Onigbanjo, the programme aligns with President Bola Tinubu’s Renewed Hope Agenda and the Ministry of Education’s Nigeria Education Sector Renewal Initiative, particularly its STEM pillar.
He said the initiative aims to help students transform innovative ideas into viable businesses, stressing that many young Nigerians have innovative ideas but lack the capital and opportunities needed to develop them.
Applications will go through an AI-assisted initial screening, followed by assessment by 10 human evaluators. Shortlisted applicants will make virtual presentations, while finalists will attend a three-day boot camp and pitch their ventures before an evaluation committee.
Winners will also receive six months of mentorship from corporate and entrepreneurial organisations, including Lafarge, Cellulant/Childtech, Powerhouse, Co-Creation Hub/African Stalking, LifeBank, Future Africa, GetEquity and One Health.
To expand awareness and participation, the Student Venture team and its partners will conduct a nationwide application roadshow from September 6 to September 30, 2026, visiting nine tertiary institutions across Nigeria’s six geopolitical zones.
The institutions 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.
A Campus Ambassador Programme will also be activated in 20 additional tertiary institutions.
Application deadline: September 30, 2026.
