Eight student-led startups from the University of Lagos, UNILAG have secured a combined N50 million under the Federal Government’s Student Venture Capital Grant scheme, as the university positions itself as Nigeria’s new breeding ground for tech entrepreneurs.
The Vice-Chancellor, Prof. Folasade Ogunsola, disclosed this on Tuesday during her opening address at the maiden NITHUB Innovation Fair 2026 held on campus.
Speaking on the theme, _“University of Lagos as a Platform for Innovation and Enterprise,”_ Ogunsola said the achievement proves that deliberate investment in training, infrastructure, and opportunity is paying off.
According to her, when the FG launched the scheme, over *30,000 applications* were received nationwide, with only *45 innovators* selected.
Eight of them came from UNILAG.
“I hosted those young founders in my office, and I can tell you that their poise and clarity would humble many seasoned executives,” Ogunsola said.
“That outcome was not luck. It is what happens when training, infrastructure and opportunity are aligned on one campus, over time, on purpose.”
She added that universities can no longer limit themselves to teaching and research, but must ensure knowledge translates into solutions and sustainable budget.
The Director of *NITHUB, UNILAG, Dr. Victor Odumuyiwa*, said the hub, established in partnership with *NITDA*, has become the university’s innovation engine.
In the last five years and five months, NITHUB has:
– *Trained over 20,000 Nigerians* in digital skills
– *Supported over 100 startups* through pre-incubation, incubation and acceleration
– *Developed 15+ innovative products* in health, finance, energy and education
“In five years, this hub has empowered over 20,000 people with technology skills. Not certificates gathering dust, but skills that pay,” Odumuyiwa said.
“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.”
He noted that five years ago many of the startups in the hall were “ideas in notebooks. Today they are employers of labour.”
The three-day fair featured tech exhibitions, panel discussions and networking sessions to connect innovators with investors and industry leaders.
Panellists included *Akinrodolu Oluwaseun* of GiDiPIN and Patchwork, *Simi Oluwatomi*, *Julian Duru* of Flow Research, *Dr. Olumide Okubadejo*, and *Babatunde Fatai* of MTN Nigeria.
They discussed AI, startup growth, and strategies for building sustainable tech businesses in Nigeria.
Ogunsola said NITHUB focuses on *AI, blockchain, data science, software engineering, IoT, hardware prototyping and mentorship* to turn campus ideas into viable enterprises.
