New Telegraph

CBN tasks tertiary institutions on entrepreneurship devt

Governor of Central Bank of Nigeria , Mr.Godwin Emefiele, has advised administrators of tertiary institutions in the country to review and restructure students’ orientation from seeking white collar jobs to being successful entrepreneurs.

Emefiele said it’s time tertiary institutions enthroned culture of paradigm shift from grooming students for white collar jobs to imparting entrepreneurship skills on graduates to become employers of labour in line with current dictates. Emefiele gave the admonition on Thursday in Abuja at the official launch of the Tertiary Institutions Entrepreneurship Scheme (TIES) and inauguration of body of experts. Also yesterday, six successful beneficiaries of term loan component were presented with N5 million cheque for expanding their businesses.

The CBN governor noted that with about 600,000 students graduating yearly from Nigerian tertiary institutions, and without the commensurate employment opportunities in both the public and private sectors, it had become imperative that government, at all levels, put in place policy measures to support entrepreneurial development among our youth. Such measures, Emefiele said, would create an enabling business ecosystem that supports innovation and enable the youth to unleash their entrepreneurial potential, by redirecting their focus from seeking white-collar jobs to a culture of entrepreneurship development. He said the ecosystem should provide support in re-orientating, training, and providing a financing model apt to the peculiarity of the sector within which the businesses operate.

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