UNILAG Students Secure Federal Government Venture Capital Grant

The University of Lagos is once again in the spotlight for student innovation after eight students emerged among the winners of the Federal Government’s Student Venture Capital Grant programme.

The students were recognised during a special meeting hosted by the Vice-Chancellor, Professor Folasade Ogunsola, on May 26, 2026. The event brought together student founders, university leaders, and representatives from the Federal Ministry of Education to celebrate the achievement and discuss entrepreneurship at the university.

The grant programme was highly competitive. More than 30,000 applications were submitted from across Nigeria, but only 45 student innovators were selected nationwide. Out of that number, eight came from UNILAG.

The Beneficiaries of the Grant

The beneficiaries include student founders building businesses across technology, fashion, healthcare, logistics, and student services. They are Samuel Olamilekan Johnson of WalterSam Global Technologies Ltd, Ted Bankong of Rewear, Ajie Divine Favour of StocMed, Umar-Faruq Adeshina of Wekoya, Oluwatosin Adeyemo of Oju Systems, Ekundayo David of Run-It Global Innovations, Victor Olubukola of CampusShelf, and Sheriffdeen Ademoye of Quad Stores.

About the Grant

The Student Venture Capital Grant programme was created to support students with strong business ideas and help them scale. Beyond funding, it also signals growing support for young innovators trying to solve real problems through business.

Former Director of the Entrepreneurship and Skills Development Centre (ESDC), Sunday Adebisi, said the achievement reflects years of work by the university to build an innovation culture. According to him, many of the structures supporting entrepreneurship today started almost a decade ago.

Why the this Matters

Access to funding is one of the biggest challenges for student entrepreneurs. Having a good idea is one thing. Turning it into a real business is another. Many students struggle to get money to test products, attract customers, or grow their ideas beyond campus. That is why this grant matters.

Professor Ogunsola encouraged the student founders to remain patient and resilient, noting that building a business comes with challenges and uncertainty.

For other students watching, this win sends a simple message: student ideas can grow into something serious. With the right support, consistency, and problem-solving mindset, university projects can become real businesses with national recognition.