WEDNESDAY April 9, 2025 |
By thenewsdesk.ng
The Federal Government is set to launch a groundbreaking N300 billion Graduate Entrepreneurship Fund aimed at empowering young Nigerians to start their own businesses and pursue self-employment opportunities, FirstNEWS reports.
Dr. Tunji Alausa, the Minister of Education, made this announcement yesterday during his convocation lecture at Lagos State University (LASU), Ojo.
According to Alausa, each graduate will have access to a minimum of N10 million, with the possibility of receiving higher amounts depending on individual needs.
The initiative is part of the Bola Tinubu administration’s broader effort to transition Nigeria from a resource-based economy to a knowledge-based economy, driven by innovation and entrepreneurship.
The Minister highlighted that this fund will play a pivotal role in providing financial support to young Nigerians with entrepreneurial aspirations, helping them build sustainable businesses and contribute to the nation’s economic growth.
Delivering his lecture titled “Patriotism, Citizenship and National Ownership: The Imperative of Collective Responsibility for Nigeria’s Future,” Alausa emphasized the critical role education plays in fostering national unity and sustainable development.
He noted that patriotism involves more than just allegiance to national symbols; it requires active engagement in nation-building and unity.
“Patriotism is measured by actions that help in nation-building,” he said, underscoring the need for education as the cornerstone of this process.
Alausa further explained that citizenship encompasses a commitment to obeying the laws of the land, fulfilling civic duties, and protecting national assets. He emphasized that education is the key to fostering a sense of national ownership, where citizens understand their rights and responsibilities to the nation. The Minister also highlighted the government’s focus on technical, vocational, and entrepreneurship training, as well as promoting gender equality through targeted support for the girl child.
As part of ongoing reforms in the education sector, Alausa pointed to the recent introduction of a student loan scheme, which has already disbursed over N45 billion to support students’ education. He said the administration’s goal is to ensure equitable access to quality education, enabling the youth to become responsible citizens and contribute meaningfully to the country’s development.
In her address, the Vice Chancellor of LASU, Prof. Ibiyemi Olatunji-Bello, echoed Alausa’s sentiments, emphasizing that Nigeria is more than just a geographical entity—it represents a shared vision and hope built by past heroes. She stressed the importance of reigniting the spirit of patriotism and national ownership among all Nigerians, saying, “The future lies in all citizens, not just a few.”
Dr. Abdullahi Ganduje, the National Chairman of the All Progressives Congress (APC), and Chairman of the event, also spoke on the significance of education, noting that it is the solution to many of humanity’s challenges. Ganduje called for continued investment in the education sector to ensure sustainable development and progress for the country.
The launch of the Graduate Entrepreneurship Fund marks a significant step in the government’s efforts to support youth entrepreneurship, tackle unemployment, and foster a culture of innovation and self-reliance in Nigeria.
FG to Launch N300bn Graduate Fund to Empower Youth Entrepreneurs
