FG opens ₦50m student venture grant, restores NMEC autonomy

The Federal Government has launched applications for the second round of the Student Venture Capital Grant (S-VCG), allocating up to ₦50 million in non-equity financing to 50 student-led ventures across Nigeria. Spearheaded by Minister of Education, Dr. Maruf Tunji Alausa, the scheme aligns with President Bola Ahmed Tinubu's Renewed Hope Agenda, aimed at transforming inventive concepts into prosperous businesses.

Adebayo Onigbanjo, National Project Coordinator of the S-VCG, unveiled the program during a press conference prior to a nationwide campus outreach campaign planned for September 6–30, 2026. This initiative will traverse nine tertiary institutions in each of Nigeria's six geopolitical zones, while a Campus Ambassador Programme will raise awareness among 20 additional institutions.

The S-VCG primarily targets student innovators in the fields of Science, Technology, Engineering, Mathematics, and Medicine (STEMM). Applications undergo AI-assisted screening followed by evaluation by a panel of 10 human experts. Qualified candidates will present virtually, and finalists will undergo a bootcamp and in-person presentations. Beneficiaries will also receive six months of mentorship from industry professionals in technology, healthcare, logistics, education, and other sectors.

The S-VCG, dubbed the "Next Moonshot Initiative," operates under the Nigeria Education Sector Renewal Initiative in collaboration with TETFund, Bank of Industry, and Afara Initiative. Meanwhile, the Minister of State for Education, Prof. Suwaiba Ahmad, announced the reestablishment of full autonomy to the National Commission for Mass Literacy, Adult, and Non-Formal Education (NMEC).

This decision, announced during activities commemorating the 2026 International Literacy Day, is expected to bolster Nigeria's battle against illiteracy. Ahmad emphasized that restoring academic autonomy is a crucial step for a robust educational plan. The government aims to enhance adult education infrastructure, establish community learning centers, and plan a permanent NMEC headquarters.

Regarding Sustainable Development Goal 4, Ahmad assured that Nigeria has made significant progress towards achieving this goal. NMEC Executive Secretary, Prof. Dahiru Muhammad Shuni, revealed that Nigeria's literacy statistics are only available since 2010, as he seeks updated data.