If you are a student with a STEMM-based business idea and you have been waiting for funding to take it further, this is the opportunity you have been waiting for.

The Federal Government has opened applications for the second cohort of the Next Moonshot Initiative. This is a grant program that will provide up to ₦50 million each to 50 outstanding student-led ventures across Nigeria. The funding is completely equity-free, meaning you keep full ownership of your business while still receiving government backing.

What You Stand to Gain

Selected students will receive up to ₦50 million in equity-free funding to develop their STEM-based business ideas into viable ventures. Beyond the money, successful applicants will also receive six months of mentorship from corporate and entrepreneurial organizations participating in the program. This will give them both the capital and the guidance needed to build something sustainable.

How the Selection Process Works

Applications will first go through an AI-assisted screening process before being reviewed by ten human evaluators. Shortlisted applicants will then make virtual presentations, and finalists will attend a three-day boot camp before pitching their ventures to an evaluation committee. The process is thorough, so put your best foot forward from the start.

Who Can Apply

The program is open to student innovators across Nigeria who are:

• In 300 level or above, or in a team with a student in 300 level or above
• Developing STEMM-based businesses (science, technology, engineering, mathematics, or medical sciences)
• With projects or businesses whose names are registered with CAC-registered companies in Nigeria.

How to Apply and Stay Informed

The government is running a nationwide roadshow from September 6 to September 30, visiting nine tertiary institutions across Nigeria’s six geopolitical zones, including the University of Lagos, Covenant University, Bayero University Kano, and others. A Campus Ambassador Program will also run across 20 additional institutions.

To apply, visit the official Federal Ministry of Education channels.

The deadline for application is 30th September 2026. With ₦2.5 billion on the table and only 50 spots available, every day you wait is a day closer to missing out.