Eight student-founded startups from the University of Lagos (UNILAG) have collectively secured ₦50 million under the Federal Government's Student Venture Capital Grant scheme, marking a significant achievement for the university's entrepreneurial ecosystem.
How UNILAG students outperformed 30,000 applicants
The announcement was made by the Vice-Chancellor, Prof. Folasade Ogunsola, during her opening speech at the maiden NITHUB Innovation Fair 2026. According to Ogunsola, the success was not accidental but the result of a deliberate strategy to foster innovation and entrepreneurship at the university.
She revealed that over 30,000 applications were submitted nationwide for the grant, but only 45 innovators were selected. Out of these, eight came from UNILAG, bringing home a total of ₦50 million in funding for their startups.
“I hosted those young founders in my office, and I can tell you that their poise and clarity would humble many seasoned executives. That outcome was not luck. It is what happens when training, infrastructure and opportunity are aligned on one campus, over time, on purpose,” Ogunsola said.
NITHUB: A catalyst for tech innovation
The Vice-Chancellor emphasized that universities must go beyond lectures and research to help students turn ideas into businesses that create jobs and solve problems. She credited NITHUB, the National Information Technology Hardware and Software Development Centre, which was established in partnership with the National Information Technology Development Agency (NITDA), as a key driver of UNILAG’s growing startup culture.
NITHUB provides training in high-demand tech skills such as artificial intelligence, blockchain, data science, software engineering, Internet of Things (IoT), hardware prototyping, and startup mentorship. The centre's Pioneer Director, Dr. Victor Odumuyiwa, highlighted its impact over five years.
“In five years, this hub has empowered over 20,000 people with technology skills. Not certificates gathering dust, but skills that pay. Our alumni are today writing code for international firms, earning in currencies their parents once only saw on exchange-rate boards, and lifting entire families as they rise,” Odumuyiwa said.
Over 100 startups supported and 15 products developed
Odumuyiwa added that NITHUB has supported over 100 startups through pre-incubation, incubation, and acceleration programmes. The centre has also developed more than 15 innovative products and services in healthcare, finance, education, and energy.
“We have supported over 100 startups through pre-incubation, incubation and acceleration. Some of them are in this hall right now, standing beside their products. Five years ago, they were ideas in notebooks. Today they are employers of labour,” he said.
NITHUB Innovation Fair 2026 highlights
The three-day NITHUB Innovation Fair 2026 features technology exhibitions, networking sessions, and panel discussions aimed at connecting founders with investors and industry leaders. Speakers included GiDiPIN and Patchwork founder Akinrodolu Oluwaseun, software developer Simi Oluwatomi, Flow Research co-founder Julian Duru, AI product developer Dr. Olumide Okubadejo, and Babatunde Fatai of MTN Nigeria.
The Federal Government's Student Venture Capital Grant is part of broader efforts to encourage innovation among Nigerian students and support startups capable of creating jobs and driving economic growth.
