The S-VCG, a grant for students in the sciences, technology, engineering, mathematics, and medical sciences, is set to be announced by the Federal Government.
It claimed that the program was a pioneering initiative designed to help students in Nigeria’s tertiary institutions launch the next wave of scalable, job-creating ventures.
It claimed it was a part of the current administration’s efforts to promote entrepreneurship, innovation, and economic transformation.
The Minister of Education, Tunji Alausa, will officially introduce the initiative in August, also known as the “STEMM Up Grant.”
Folasade Boriowo, the ministry’s spokesperson, made this known in a statement released on Friday.
She claimed that the initiative was made public at a stakeholder engagement session in Abuja, which included vice chancellors, provosts, rectors, student leaders, academic staff, and development partners, to chart a course for fostering student-led innovation.
READ ALSO: Principal Disqualified For Selling School Property in Bauchi
According to the statement, the initiative would be run in partnership with the Bank of Industry (BOI) to ensure financial transparency, impact assessment, and efficient project execution.
S-VCG is more than just a grant, he says. For bold, young innovators to take the lead in Nigeria’s industrial and technological transformation, Alausa said. From technology and medicine to agriculture and green energy, the statement read in part as “We are giving our students the tools to dream, build, and scale solutions that solve real-world problems.”
The grant is intended for full-time undergraduate students in STEMM fields, particularly those at the 300-level and above.
Up to 50 million dollars will be awarded to each student-led project, as well as access to mentorship, incubation services, and business development support.
To ensure financial transparency, impact assessment, and efficient project execution, the initiative will work in partnership with the Bank of Industry (BOI).
Suwaiba Sa’id Ahmad, the minister of state for education, described the grant as a wise move for Nigeria’s knowledge economy during a speech at the session.  ,
By supporting innovation from the ground up, she said, adding that the program’s design was influenced by months of consultation with students, faculty, and institutional leaders. “We’re building a stronger, more competitive future,” she said.
Source: Channels TV
Leave a Reply