Two students of the Federal University Oye-Ekiti (FUOYE), Maduike Praise Oluwakemisola and Abdulghanniy Samuel Majeed, have emerged as winners in the 2026 Student Venture Capital Grant (S-VCG), each securing ₦50 million in funding for their innovative projects.
Maduike Praise Oluwakemisola, a 500-level Nursing student, won with her project, AlutaMarket, an AI-powered campus marketplace designed to connect students across Nigerian universities. The platform, described as a student-focused alternative to major e-commerce platforms, enables users to buy and sell products and services securely
According to her, the platform addresses common challenges in online transactions, including discrepancies between ordered and delivered items, sales scams, and difficulties with refunds. Expressing her excitement, Maduike said,
“When I heard my name as one of the winners of the Federal Government S-VCG, it felt unreal. I was so elated and thankful to God Almighty.”
The second beneficiary, Abdulghanniy Samuel Majeed, a 400-level Computer Science student, was recognized for his project, Elite Scalable Game, presented during the highly competitive programme organized by the Federal Ministry of Education, Nigeria. His startup focuses on developing engaging digital games that reflect African and Nigerian culture while appealing to a global audience.
Speaking of his innovation, Majeed stated,
“We are addressing the lack of African representation in the global gaming industry by developing culturally relevant games that tell our stories and promote our identity.”
He described the achievement as a moment of validation for his hard work, perseverance, and dedication throughout his journey.
The Student Venture Capital Grant is a ₦3 billion federal government initiative designed to support student-led startups with up to ₦50 million in equity-free funding, alongside mentorship and incubation opportunities. The programme is targeted at students in STEMM (Science, Technology, Engineering, Mathematics, and Medical Sciences) disciplines, particularly those in 300 level and above, with the aim of transforming innovative ideas into viable businesses.
Out of over 30,000 applicants, 65 teams were shortlisted, and 40 outstanding students were eventually selected to receive ₦50 million each. The initiative is focused on promoting research, innovation, and entrepreneurship, while also supporting students in transitioning from academic environments to business ownership through funding, validation, and national exposure.
The pitching event, held on March 29, 2026, in Lagos, brought together student innovators from both public and private universities across Nigeria. The occasion was attended by notable dignitaries, including the Minister of Education, Tunji Alausa; Minister of State for Education, Suwaiba Ahmad; Minister of Communications and Digital Economy, Bosun Tijani; and the UNDP Resident Representative, Elsie Attafuah.
The initiative aims to empower a new generation of Nigerian innovators, with a strong focus on technology, sustainability, and energy development.