The Federal Government has announced plans to introduce the Sciences, Technology, Engineering, Mathematics, and Medical Sciences Student Venture Capital Grant — a groundbreaking initiative aimed at empowering tertiary students in Nigeria to launch scalable and job-generating ventures.

Known as the "STEMM Up Grant", the programme will be officially unveiled in August by the Minister of Education, Dr. Maruf Alausa, according to a statement released by the Ministry’s Director of Press, Folasade Boriowo.

The announcement was made during a stakeholder engagement session in Abuja, which brought together Vice Chancellors, Provosts, Rectors, student leaders, academic staff, and development partners to collectively strategize on promoting student-driven innovation.

“This isn’t just a grant — it’s a springboard for bold student innovators to shape Nigeria’s industrial and technological future,” Dr. Alausa said. “We’re equipping students with the tools to imagine, create, and grow solutions that address real-life challenges — from tech and medicine to agriculture and renewable energy.”

The grant is targeted at full-time undergraduate students in STEMM fields (Science, Technology, Engineering, Mathematics, and Medical Sciences), specifically those in their third year and above. Each selected student-led project could receive startup funding of up to ₦50 million, along with access to expert mentorship, incubation services, and business development support.

The initiative will be delivered in collaboration with the Bank of Industry, ensuring transparency, measurable impact, and effective execution of selected projects.

Speaking at the event, the Minister of State for Education, Professor Suwaiba Ahmad, described the programme as a strategic investment in Nigeria’s knowledge-based economy.

“We are building a more competitive future by nurturing innovation from the grassroots,” she said, highlighting that the programme’s design followed months of consultation with students, faculty, and education stakeholders.

She also noted that the initiative aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which emphasizes inclusive education, youth empowerment, and sustainable economic growth.

Attendees at the event praised the STEMM Up Grant as a timely, high-impact intervention that could drive youth innovation, reduce graduate unemployment, and establish Nigeria as a hub for student-led entrepreneurship in Africa.

The Ministry affirmed its commitment to ensuring inclusive implementation and thorough monitoring to achieve measurable, long-term impact across the nation's higher education landscape.