The Governor of Central Bank of Nigeria (CBN), Godwin Emefiele has officially launched the Tertiary Institutions Entrepreneurship Scheme (TIES), which will provide access to finance bankable ideas by graduates and undergraduates, in the quest to tackle youth unemployment in the country.
Performing the launch at the Bank’s head office on Thursday, the scheme developed in partnership with Nigerian polytechnics and universities, was designed to harness the potentials of graduate entrepreneurs by creating a paradigm shift from the pursuit of white-collar jobs to a culture of entrepreneurship for economic development and job creation.
Speaking at the event, in Abuja, Emefiele promised to tackle youth unemployment and underemployment in the country.
He said, “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 has become imperative that government, at all levels, puts in place policy measures to support entrepreneurial development among our youth.
“Such measures would create an enabling business ecosystem that supports innovation and enables the youth to unleash their entrepreneurial potential, by redirecting their focus from seeking white-collar jobs to a culture of entrepreneurship development.
“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.”
According to Emefiele, entrepreneurship is an integral part of any economy, and that “entrepreneurs play a key role in driving growth and innovation, which in turn results in job creation.”