The Federal Government has unveiled a ₦50 million venture capital grant aimed at supporting innovative students in Nigerian universities.
Targeting those in 300 level and above studying Science, Technology, Engineering, Mathematics, and Medicine (STEMM), the grant will help scale existing or new student-led businesses.
Education Minister Dr Tunji Alausa made the announcement in Abuja during the launch of the Research and Innovation Commercialisation Committee.
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The initiative, backed by TETFund and the Bank of Industry, will roll out between September and October 2025.
The committee, chaired by Dr Tayo Aduloju, will set eligibility rules and help link academic research with industry demands.
Officials say the move marks a key step toward transforming Nigeria into a centre for innovation and enterprise.
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