ABUJA, NIGERIA– The Federal government has actually opened applications for the second associate of its Student Equity Capital Grant, offering up to N50 million each to 50 impressive student-led ventures throughout Nigeria.
The National Planner, Unique Program Operations and Application Unit (SPOI) at the Federal Ministry of Education, Adebayo Onigbanjo, revealed this on Friday at a news conference in Abuja.
Onigbanjo said the effort, likewise known as the “Next Moonshot Initiative,” would supply equity-free funding to trainee business owners with Science, Innovation, Engineering and Mathematics (STEM)-based company ideas.
He said the application portal opened on Friday and would close on September 30, 2026.
“For Associate 2, we are trying to find quality applications from trainee innovators throughout Nigeria, from which 50 impressive endeavors will eventually be picked.
“Effective candidates will be qualified to receive as much as N50 million equity-free grant from the Federal Republic of Nigeria to develop and scale their businesses,” he said.
READ ALSO: FG Launches Trainee Equity Capital Grant to Boost Youth Development.
According to him, the grant is created to make it possible for trainee business owners to establish and scale their services without giving up equity or ownership.
FG Takes Grant Drive Nationwide
To widen access to the program, Onigbanjo stated the Student Venture group and its partners would embark on a nationwide application roadshow from September 6 to September 30.
He said the roadshow would visit 9 tertiary institutions across the 6 geopolitical zones.
The organizations are the University of Abuja, Nile University, Abubakar Tafawa Balewa University, Bayero University Kano, Kano University of Science and Innovation, Federal Polytechnic Kaduna, Ambrose Alli University, University of Lagos and Covenant University.
He included that a Campus Ambassador Program would also be triggered throughout 20 other tertiary institutions to additional broaden the initiative’s reach.
Onigbanjo stated applications would go through an initial artificial intelligence-assisted screening before being evaluated by 10 human evaluators.
Shortlisted applicants, he stated, would deliver virtual presentations, while finalists would attend a three-day boot camp and pitch their endeavors physically before an assessment committee.
Winners To Receive Mentorship
Beyond the financial grant, successful endeavors will receive a six-month mentorship program supported by corporate and entrepreneurial organisations.
The partners consist of Lafarge, Cellulant/Childtech, Powerhouse, Co-Creation Hub/African Stalking, LifeBank, Future Africa, Get Equity and One Health, to name a few.
Onigbanjo said the initiative lined up with President Bola Tinubu’s Restored Hope Program and constituted a main part of the Ministry of Education’s Nigeria Education Sector Renewal Effort (NESRI), especially its STEM pillar.
He said the government was devoted to producing opportunities for trainees to change ingenious concepts into viable services.
“Nigeria does not do not have ingenious young people. What lots of absence is the opportunity and capital to take these ideas even more.
“Our universities, polytechnics and colleges of education should progressively become places where concepts are established, solutions created and services born,” he stated.
Reviewing the first friend, Onigbanjo stated the initiative got 17,914 applications from 404 organizations across the 36 states and the Federal Capital Area within three weeks.
He said 45 beneficiaries were eventually selected for the first accomplice.
The national planner encouraged eligible student innovators operating in health, agriculture, education, innovation, energy, logistics and e-commerce to submit their applications before the September 30 deadline.