Sign in
Download Opera News App



College Education


Entrepreneurship: CBN Partners with Tertiary Institutions to Reduce Unemployment Among Graduates

It is well acknowledged that the rate of unemployment in Nigeria is soaring higher than ever. Most Nigerian graduates are unemployed with no means of livelihood. This has contributed to rising cases of crime and unrest in the country. To address these recurring problems various initiatives have been introduced such as the N-Power and other capacity development schemes. In addition to a plethora of schemes, the CBN has introduced a N500m grant scheme that will benefit graduates of tertiary institutions including Universities and Polytechnics.

Introducing this scheme, the CBN in partnership with Nigerian polytechnics and universities has launched the Tertiary Institutions Entrepreneurship Scheme (TIES). TIES will last for 10 years and is aimed at financing the graduates and undergraduates of polytechnics and universities in Nigeria with innovative entrepreneurial and technological ideas.

Regarding how Nigerian graduates and undergraduates can access this grant, CBN disclosed that the N500m grant will be distributed among the top 5 Nigerian Universities and Polytechnics with the best pitch and ideas. These beneficiary institutions shall be awarded as follows: first place – N150m; second place – N120m; third place – N100m; fourth place – N80m; and fifth place – N50m. 

For interested Nigerian graduates and undergraduates, the eligibility criteria are as follows:

Applicants must possess a First-degree certificate (BSc/HND/ or it is equivalent)

National Youth Service Certificate (NYSC) discharge or exemption certificate 

Certificate of Participation to be issued by polytechnics and universities evidencing entrepreneurship training 

Not more than 7 years post-NYSC.

However, it is expected that if this scheme is well managed and implemented without misappropriation, entrepreneurship will be improved and unemployment rates reduced.

Content created and supplied by: AllLatestGists (via Opera News )

CBN Nigeria Nigerian


Load app to read more comments