LAGOS, Nigeria: The Federal Government of Nigeria will soon launch a N300 billion Graduate Entrepreneurship Fund to help young graduates start their own businesses. This was announced on Friday by the Minister of Education, Dr. Tunji Alausa, during the 28th Convocation Lecture of Lagos State University (LASU) in Ojo, Lagos.
According to Dr. Alausa, each graduate may be able to access up to N10 million, and some may even get more, depending on their needs and business plans.
He explained that the main goal is to support self-employment and help youths grow their ideas into strong businesses. The fund is part of the government’s plan to shift Nigeria from a resource-based economy to a knowledge-based economy.
Education Is the Key to Nation-Building
Dr. Alausa spoke on the topic, “Patriotism, Citizenship, and National Ownership: The Imperative of Collective Responsibility for Nigeria’s Future.” He said education plays a central role in building the country.
“Patriotism is not just about waving flags. It is about doing things that help build the nation. It includes working together and respecting our differences,” he said.
The Minister also added that citizenship means following the law, showing loyalty to the country, and protecting public property. National ownership, he said, means that every citizen must use Nigeria’s resources wisely and for the benefit of all.
“Education is the foundation of patriotism, citizenship, and national ownership. It helps people understand their rights and responsibilities. That is why we are making education more accessible, especially in technical, vocational, and entrepreneurship areas,” he said.
More Support for Students
Dr. Alausa also said the government has introduced many reforms in the education sector. One of them is the new student loan scheme, which has already given out more than N45 billion to help students with their education.
He added that the government is also supporting the girl child, making sure there is quality education, and focusing on skills training for employment and self-reliance.
LASU Vice Chancellor and APC Chairman Speak
The Vice Chancellor of LASU, Prof. Ibiyemi Olatunji-Bello, praised the lecture and said Nigeria is more than just a place on the map.
“Nigeria is our shared hope, built by heroes of the past. We must bring back the spirit of patriotism, responsibility, and unity,” she said.
The Chairman of the event, Dr. Abdullahi Ganduje, who is also the National Chairman of the All Progressives Congress (APC), said that education is the answer to many of the problems facing the world today.
Conclusion
The planned N300 billion Graduate Entrepreneurship Fund is a big step toward helping young Nigerians become job creators. With up to N10 million in funding per graduate, the initiative will support many in starting their businesses and creating new jobs.
Dr. Alausa said the Tinubu administration is focused on empowering the youth through education, skills, and entrepreneurship. Nigerians are now waiting for the official launch of the fund and how they can apply.