The Federal government has actually shortlisted 65 student innovators from a pool of 30,639 applicants drawn from 404 tertiary organizations nationwide for the final stage of the Trainee Venture Capital Grant (SVCG), a flagship effort targeted at boosting youth-driven development and entrepreneurship.
The scheme, presented in November 2025 in cooperation with the Bank of Market (BoI), is created to supply approximately N50 million in non-dilutive financing to student-led ventures that have reached the commercialisation phase. The programme looks for to empower young business owners to scale feasible ideas, generate employment, and contribute meaningfully to Nigeria’s economic development.
In a statement provided on Monday, Folasade Boriowo, Director of Press and Public Relations at the Federal Ministry of Education, stated the initiative lines up with the administration’s broader vision of cultivating development amongst Nigerian youths. She noted that the shortlisted prospects are dealing with services throughout crucial sectors important to national development.
Boriowo priced quote the Minister of Education,, as describing the initiative as a strategic investment in the next generation of innovators and task creators, revealing self-confidence in the imagination and aspiration demonstrated by the finalists.
“The minister explained the initiative as an intentional financial investment in the next generation of innovators and job creators,” she stated, adding that “the selection procedure was rigorous and transparent, and the programme is helping to develop a pipeline of entrepreneurs who will add to Nigeria’s economic growth.”
She explained that applications underwent an AI-driven screening procedure before human assessment by a panel comprising agents from federal government, academic community, industry, and the investment community. According to her, entries were examined based upon scalability, expediency, creator capability, and effect capacity.
The 65 finalists are anticipated to take part in an extensive endeavor advancement bootcamp arranged for March 26 to 29, including pitch discussions, workshops, live evaluations, and financier feedback. The program will culminate in an awards event on March 29, 2026, where beneficiaries of the N50 million financing will be formally revealed