The House of Representatives has taken decisive steps to address the country's shortage of skilled workers by passing a bill for the establishment of Entrepreneur University in Ibile, Ikorodu, Lagos. This bill, aimed at advancing entrepreneurial education, is seen as a strategic move to tap into the creativity and potential of Nigeria’s youth.
Bill to Establish Entrepreneur University in Lagos
Sponsored by Babajimi Benson and Paul Kalejaiye, representatives of Ikorodu and Ajeromi/Ifelodun Federal Constituencies respectively, the bill was first introduced on June 30, 2024. Its core objective is to create opportunities for young Nigerians to gain education focused on entrepreneurship, business management, and practical skills.
Entrepreneur University is envisioned as a solution to bolster Nigeria's economy by reducing unemployment and fostering a generation of job creators rather than job seekers. The institution will provide a robust platform for young people to acquire the knowledge and skills necessary to start, grow, and sustain businesses, thus contributing to the nation's economic growth.
Addressing the Need for Entrepreneurial Skills
During a session at the National Assembly Complex, Benson underscored the importance of empowering Nigeria’s youth, given the country's vast untapped potential for economic growth. He explained that specialised institutions like Entrepreneur University are critical to developing the entrepreneurial talent needed to drive innovation and economic prosperity.
Benson further highlighted that the institution would offer both practical and theoretical programmes in entrepreneurship and business management, coupled with mentorship and incubation support for start-ups. These programmes aim to nurture creativity, foster innovation, and instill business acumen in students, making them equipped to navigate the challenges of the business world.
The university will not only focus on teaching entrepreneurship but will also foster a culture of creativity, encouraging students to think outside the box and bring innovative ideas to life. According to Benson, the end goal is to reduce unemployment by creating a pool of entrepreneurs who will contribute significantly to the economy through job creation and small and medium-sized enterprises (SMEs).
The Need for Specialised Education
Supporting the bill, Paul Kalejaiye pointed out the limitations of conventional universities, which, he argued, do not adequately prepare graduates with the practical skills needed to thrive in today's economy. He stressed the importance of shifting away from the traditional focus on “white-collar” jobs, which are becoming increasingly scarce, and towards more practical, skill-based education.
Kalejaiye noted that Entrepreneur University would offer hands-on training from the first year through to graduation, focusing on essential areas like commerce, industry, and technical skills. This holistic approach would equip students to not only secure employment but also to create job opportunities for others by starting their own businesses.
He also emphasized the growing need for specialised training in technical fields, such as auto mechanics and other trades, noting that the current reliance on unskilled labor is a major challenge. The establishment of Entrepreneur University, according to Kalejaiye, would help address this gap by producing graduates with the skills needed to excel in various sectors of the economy, making them valuable to both society and themselves.
Conclusion
The House of Representatives plans to hold a public hearing on the bill, allowing various stakeholders to voice their opinions and provide input. This will be a key step before the bill proceeds to a third and final reading, after which it may be passed into law.
If successful, the establishment of Entrepreneur University could mark a transformative moment for Nigeria’s education system and economy, creating a new generation of entrepreneurs equipped to tackle the challenges of the 21st-century business environment. The university's focus on practical skills and innovation positions it as a key player in reducing unemployment and fostering long-term economic growth.
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