Nigeria’s Future Depends On Entrepreneurship, Says Education Minister
The Minister of Education, Dr. Moruf Alausa, has emphasized the urgent need for Nigerian tertiary institutions to produce not only employable graduates but also job creators, as entrepreneurship is critical to the country’s economic future.
Speaking through the Lagos State Commissioner for Tertiary Education, Mr. Tolani Sule, at the inauguration of the N350 million Olufemi Okenla Entrepreneurship Centre at Olabisi Onabanjo University (OOU), Ago Iwoye, Alausa said the country must leverage its youthful population to drive prosperity through entrepreneurship.
“Today’s event is not merely the opening of a facility, but the unlocking of minds and possibilities,” he said. “In a nation rich in talent but grappling with unemployment, our education system must evolve to nurture innovators and problem solvers.”
The centre, donated by lawyer and businessman Olufemi Okenla, a member of OOU’s pioneer Law class (1987), is intended to promote entrepreneurial skills among students. Okenla also pledged an additional N50 million for equipping the facility, N100 million for its operations, N20 million as seed funding for the first four student-led startups, and sponsorship for 20 students to undergo capacity-building training at the centre.
Dr. Alausa praised Okenla’s gesture, describing it as aligned with President Bola Tinubu’s Renewed Hope Agenda, which focuses on youth empowerment, economic diversification, and inclusive governance.
“The partnership between private vision and public purpose, as seen in this initiative, is vital to national development,” he added.
The Vice Chancellor of OOU, Prof. Ayodeji Agboola, commended Okenla’s contribution, urging other alumni and stakeholders to support the university’s mission of producing job creators. Similarly, the university’s Governing Council Chairman, Prof. Oluwatoyin Ashiru, described the donation as a major boost to efforts to produce globally competitive, entrepreneurial graduates. Reflecting on his inspiration, Okenla said he had been entrepreneurial since his student days, even selling bread on campus. “Having a degree — even a Ph.D. — is no reason to ignore the vast opportunities in entrepreneurship,” he said.
The keynote speaker, Prof. Olusegun Sogbesan, Director General of Onitsha Business School, called for compulsory entrepreneurship education across Nigerian tertiary institutions. He argued that graduates must shift from seeking scarce jobs to creating sustainable enterprises.
The event concluded with the official commissioning of the entrepreneurship centre by Pastor Matthew Ashimolowo of KICC, alongside several dignitaries, including Senator Wasiu Eshinlokun Sanni (Lagos), former Senator Lekan Mustapha (Ogun East), and Otunba Bimbo Ashiru, Chairman of Odu’a Group.