By Promise Dera
The Nigerian government has announced a N50 million venture capital grant for outstanding students in Science, Technology, Engineering, Mathematics, and Medicine (STEMM) fields.
Minister of Education, Dr. Tunji Alausa who announced this on Wednesday in Abuja at the inauguration of the Research and Innovation Commercialisation Committee (RICC), revealed that the initiative will be rolled out between September and October this year.
According to him, the fund is set up through the Tertiary Education Trust Fund (TETFund).
The “Student Grant Venture Capital Initiative” aims to support high-achieving STEMM students in Nigerian universities, starting from 300 Level. Up to N50 million will be provided to eligible students.
A panel led by Dr. Tayo Aduloju, CEO of the Nigerian Economic Summit Group (NESG), will determine the eligibility criteria for the grant. The initiative will be rolled out between September and October this year, and the fund will be managed through the Tertiary Education Trust Fund (TETFund).
The grant aims to support innovative students in STEMM fields, promoting research and innovation in Nigerian universities. This initiative is expected to boost the country’s development in critical sectors.
Interested students and universities can expect more details on the eligibility criteria and application process in the coming months.
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