The Central Bank of Nigeria (CBN) announced on Monday that it is working on a Tertiary Institutions’ Entrepreneurship Scheme (TIES) to help re-orient, teach, and fund entrepreneurship ideas among Nigerian graduates.
Dr. Godwin Emefiele, the Governor of the Central Bank of Nigeria, said this in a goodwill message to the 35th Conference of Vice Chancellors of Nigerian Universities, which is being held at the Kano State University of Science and Technology (KUST), Wudil.
It would also help to create jobs for thousands of the country’s young people who graduate from various institutes of higher learning each year, he added.
“Around 600,000 graduates from our tertiary institutions will enter the workforce this year after participating in the National Youth Service Corps (NYSC) programme, seeking the already thinned out white collar jobs.
“The situation has contributed significantly to the rising youth unemployment across the country,” he said.
Emefiele said that the proposed scheme would also provide a platform for building digital skills relevant to Nigeria’s broader developmental goals.
He explained that efforts were ongoing aimed at addressing the impacts of the COVID-19 pandemic on production sectors and dwindling oil revenues in the country.
“Micro, Small & Medium Enterprises (MSMEs) portend great opportunities for addressing these gaps and accelerating economic growth by leveraging our vibrant youth population,” he said.