Egbewole congratulates 3 student-winners of N150m venture grants
By Tajudeen Babamale
The Vice Chancellor of the University of Ilorin, Prof. Wahab Olasupo Egbewole, SAN, has congratulated three undergraduate students of the University who won the Federal Government Students Venture Capital Grant (FG-SVCG), describing their feat as another demonstration of the commitment of the University to innovation and entrepreneurship.
The Director of the Technical and Entrepreneurship Centre (TEC), Prof. Usman Adebimpe Raheem, presented the beneficiaries, who secured ₦50 million each, amounting to a total of ₦150 million, to the Vice Chancellor at a brief ceremony held at the Vice Chancellor’s Committee Room last Tuesday (July 28, 2026).
While welcoming the winners to his office, the Vice Chancellor described the students as worthy ambassadors and illustrious representatives of the University, noting that they distinguished themselves in a highly competitive national exercise involving over 36,000 applicants.
Prof. Egbewole said the University took pride in the students’ remarkable accomplishment, stating that their emergence among the finalists reflected their resilience, creativity and determination.
He, however, encouraged the beneficiaries to mentor other aspiring student innovators while continuing to learn from experienced entrepreneurs, saying that, the University of Ilorin Innovation Hub thrives on mentorship, collaboration and the transfer of knowledge.
While urging the students to maximise the opportunity by developing unique products capable of remaining competitive and sustainable in the marketplace, the Vice Chancellor advised them to sustain the discipline, commitment and innovative spirit that earned them the grants, noting that consistency would position them for even greater successes.
Prof. Egbewole also advised them to adhere strictly to the budgets and business plans they submitted for the competition, reminding them that they owed a responsibility to themselves, their families, the University and Nigeria, which had provided them with the opportunity.
The Vice Chancellor expressed confidence that the beneficiaries would, in the coming years, become successful entrepreneurs who would give back to the society by supporting other students, creating opportunities for young people and contributing meaningfully to national development.
While presenting the students to the Vice Chancellor, the Director of TEC, Prof. Usman Adebimpe Raheem, said the beneficiaries distinguished themselves in a highly competitive national exercise that attracted over 36,000 applications from students across the country.
He explained that after a rigorous screening process, only 65 applicants advanced to the pitching stage, while 45 finalists eventually emerged as grant recipients. He noted that the University of Ilorin recorded an impressive outing, producing four of the 65 finalists and three of the eventual winners with each of them receiving a ₦50 million venture grant.
Prof. Raheem disclosed that the beneficiaries had already received the first tranche of the grants and had commenced implementation of their respective business projects, stating that they would utilise the funds judiciously to build sustainable enterprises.
The TEC Director attributed the students’ success to the University’s deliberate investment in entrepreneurship, innovation and mentorship, adding that the achievement further reinforced the position of the institution as a leading hub for student enterprise development in Nigeria.
