By Esther Onyegbula

The Federal Government has officially adopted the Entrepreneurship, Innovation and Business Incubation Certification, EIBIC, programme nationwide, alongside the unveiling of a ₦2.2 billion Student Venture Capital Grant aimed at accelerating student-led enterprises across the country.

The initiative, launched on March 27, 2026, in Abuja by the Minister of Education, is currently being implemented in 14 universities, equipping students with practical entrepreneurial skills, mentorship and incubation support to transform ideas into viable businesses before graduation.

At the launch, no fewer than 45 student-led ventures emerged as beneficiaries of the 2026 Student Venture Capital Grant, S-VCG, with each receiving up to ₦50 million to scale their innovations.

Founder and Managing Director of Daniel Ford International, Mr. Yemi Edun, commended the Federal Government for the initiative, describing it as a “transformational platform” for youth empowerment and enterprise development.
According to him, the EIBIC programme goes beyond conventional academic frameworks by instilling entrepreneurial discipline and global competitiveness among Nigerian youths.

“EIBIC is not just another academic programme, it is equipping young people with the mindset and capabilities required to build sustainable enterprises and compete globally,” Edun said.

He noted that the firm has played an active role in supporting the programme through mentorship, industry engagement and enterprise development, particularly at University of Lagos, the pioneer institution where early impact is already being recorded.

Findings showed that eight out of the 10 finalists from the University of Lagos in the S-VCG selection process were participants in the EIBIC programme, highlighting what stakeholders described as a strong link between structured entrepreneurial training and access to funding.

The national launch attracted key players from the private sector, including Kola Adesina, Debo Olujimi and Iyinoluwa Aboyeji, underscoring growing industry collaboration in youth-focused innovation.

Edun stressed that sustained private sector participation would be critical to the long-term success of the programme, particularly in providing mentorship, exposure and funding access for emerging entrepreneurs.
“Sustainable impact requires collaboration. The private sector plays a vital role in helping young innovators scale their ideas into real businesses,” he added.

With over 13,000 students already impacted at the University of Lagos alone, the EIBIC programme is gaining traction as a potential national model for entrepreneurial education.

Stakeholders say the initiative aligns with the Federal Government’s broader drive towards innovation-led economic growth and youth empowerment, positioning students as job creators rather than job seekers.