The Federal Government has disbursed N2.25 billion in grants to 45 student innovators across tertiary institutions in Nigeria under the Student Venture Capital Grant initiative.
The Minister of Education, Tunji Alausa, presented the funds at the UNDP Innovation Hub in Ikoyi, Lagos, saying the programme is designed to reposition universities, polytechnics and colleges of education as centres of innovation and enterprise.
According to the ministry, more than 30,000 applications were received from over 400 institutions, with 65 students shortlisted before 45 beneficiaries were selected, each receiving up to N50 million in equity-free funding.
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Alausa said the initiative is aimed at building a pipeline of young entrepreneurs and driving national development through innovation. The University of Lagos emerged as the top-performing institution with eight awardees.
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