By Juliet Umeh

Nigeria’s drive toward a digital economy and a stronger pipeline of local innovators has received a major boost with the launch of the Future Builders Fund by the Tosin Eniolorunda STEM Foundation.

The newly unveiled scholarship initiative aims to empower high-potential but under-resourced students across Nigeria, helping them overcome financial and structural barriers to excel in Science, Technology, Engineering, and Mathematics, STEM.

Speaking at the launch, Founder of the Tosin Eniolorunda STEM Foundation and Chief Executive Officer of Moniepoint, Tosin Eniolorunda, said the program was inspired by his conviction that education remains one of the most powerful tools for national transformation.

Eniolorunda said: “Every child deserves the opportunity to become the best version of themselves, and socioeconomic barriers should not be a roadblock to mastery and brilliance.”

He added: “We are launching the Future Builders Fund to find and nurture the innovators who will shape Nigeria’s future. This initiative is about creating financial happiness through education, helping students from low-income backgrounds gain mastery and become innovative changemakers capable of building life-changing solutions.”

The Future Builders Fund will sponsor 14 outstanding students, two each from seven federal universities, covering tuition support, hostel accommodation, a laptop, and a monthly stipend. Beneficiaries will also undergo mentorship and development programs designed to cultivate a solutions-driven mindset throughout their academic journey.

For its pilot phase, the Foundation selected participating institutions from across Nigeria’s six geopolitical zones, including Lagos. The universities are the Obafemi Awolowo University (OAU), Ile-Ife; University of Nigeria, Nsukka; University of Calabar; University of Abuja; Ahmadu Bello University (ABU), Zaria; University of Maiduguri; and the University of Lagos.

Explaining the selection process, Eniolorunda said the scholarship is open to STEM students entering 200 levels in the listed universities. “Applicants are required to submit their bio-data, academic records, and a personal statement outlining their goals and financial needs. Candidates will be screened based on academic merit, clarity of purpose, and financial circumstances,” he noted.

He added that from each university, the top 10 shortlisted students will take a standardized test assessing academic ability, critical thinking, and problem-solving skills, with the best two awarded the scholarship.

Beyond financial support, Eniolorunda emphasized that the program would focus on mentorship and leadership development.

“Our goal is not only to help students pay school fees but to help them grow into thinkers and builders. We want young Nigerians who can turn ideas into solutions and knowledge into impact,” he said.

Recipients will be evaluated annually, with renewals based on academic performance and demonstrated growth in technical or leadership capacity.

The Foundation’s new initiative builds on its ongoing investments in Nigeria’s STEM ecosystem. In 2024, it donated a CAD/CAM laboratory worth over N100 million to the Obafemi Awolowo University (OAU). It also supported several educational programs, including the University of Lagos Management Students Association Entrepreneurship Challenge, the Nigenius Inter-School Robotics Competition, and the NextGen Connect Interschool Oratory Competition, collectively valued at ₦50 million.

According to Eniolorunda, this pilot edition of the Future Builders Fund will serve as the foundation for a five-year scalable scholarship program, combining financial support with mentorship, leadership development, and practical STEM exposure.

“Nigeria’s digital future will be built by young people who are given the right tools, opportunities, and guidance,” he said. “The Future Builders Fund is our contribution to ensuring that talent is never wasted simply because of lack of opportunity.”

Applications for the Future Builders Fund are now open and will close on October 16, 2025.