Emefiele charges varsities to train students for entrepreneurship

…imbue entrepreneurial activities, competitions amongst students

The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has charged Universities to inculcate and impart entrepreneurial activities and competitions among Nigerian students.

This, he said, will prepare them to be employers of labour rather than job seekers.

The Governor of CBN made this known while delivering a lecture themed, “National Development and Knowledge Economy in the Digital Age: Leapfrogging SMEs Into the 21st Century,” at the 51st Convocation, University of Lagos, on Monday.

In his lecture, he urged Universities to encourage entrepreneur skills amongst students of Nigeria Universities, saying that CBN is ready to grant loan and other credit facilities on such entrepreneurial endeavors.

He said the Bank awaits Nigerian Universities to come up with comprehensive proposal that would enable Nigerian graduates not to only to enjoy complete financial independence, but also be employers of labour.

On the part of CBN, Emefiele said the bank will soon begin to send propositions to encourage varsities to come up with an all inclusive Entrepreneurship programmes for students before graduation

He further highlighted some of the significant financial interventions that directly support Small and Medium Enterprises in Nigeria.

He said the Bank has introduced several schemes and initiatives, part of which, he affirmed include SME Credit Guarantee Scheme (SMECGS), Micro, Small and Medium Enterprises Development Fund (MSMEDF), Youth Entrepreneurship Development programme (YEDP) and Agri-business/Small and Medium Enterprises Investment Scheme (AGSMEIS).

Others are Entrepreneurship Development Centres (EDCs), National Collateral Registry (NCR), Creative Industry Financing Initiative (CIFI), Targeted Credit Facility (TCF) and the Nigeria Youth Investment Fund (NYIF)

Emefiele further enjoined governments at all levels of the need to support SMEs especially through the provision of enabling environments for greater growth of SMEs.

He added that “Providing support for SMEs to thrive is a win-win situation for both government and firms. While government could invest in infrastructure and provide other support to SMEs; SMEs in- turn create employment opportunities and pay taxes to government, which helps to support more inclusive growth of our economy.”

He also x-rayed some of the polices rolled out by federal Government such as the National Information Technology Policy with the establishment of National IT Development Trust Fund (NITDEF), National Information Technology Development Agency (NITDA), among others.

Emefiele advised students to harness their entrepreneurial talents using available digital technology, not only to create jobs for themselves alone but to create for many others.