The Minister of Education, Dr. Moruf Alausa, has called on Nigeria’s tertiary institutions to prioritize producing graduates equipped not only for employment but also for entrepreneurship, highlighting the vital role of entrepreneurial skills in securing the nation’s prosperity.
Speaking on Wednesday through his representative, the Lagos State Commissioner for Tertiary Education, Mr. Tolani Sule, Dr. Alausa made this appeal during the inauguration of the N350 million Olufemi Okenla Entrepreneurship Centre and the first Colloquium at Olabisi Onabanjo University (OOU), Ago Iwoye.
Dr. Alausa noted that despite Nigeria’s vast population of approximately 200 million and a wealth of talented youth, the country continues to grapple with high unemployment rates. He stressed that the education sector must place greater emphasis on entrepreneurship to stimulate job creation and economic growth.
He praised Olufemi Okenla—a lawyer, businessman, and member of OOU’s pioneer law class of 1987—whose donation of the entrepreneurship centre aims to foster entrepreneurial skills among students. Alausa remarked, “Today’s event is not just about the opening of a facility; it is about the opening of minds—a gateway to new thinking, new ventures, and new opportunities. The generosity and foresight of the Olufemi Okenla Foundation (O.O.F.) in establishing this centre exemplifies the type of partnership we must continue to nurture—where private commitment meets public aspiration for the greater good.”
The minister further stated, “The theme of this colloquium, ‘The Role of Tertiary Institutions in Promoting Entrepreneurship in Nigeria,’ touches on a defining challenge of our time. In a nation blessed with talents yet confronted by unemployment, the role of education must evolve. We can no longer afford to produce graduates who seek jobs alone—we must now produce job creators, innovators, and problem solvers. Entrepreneurship is the bridge between knowledge and national prosperity. Our tertiary institutions must become incubators of creativity, industry, and sustainable enterprise.”
Dr. Alausa urged educational institutions to equip students with practical skills to turn knowledge into value, thereby driving national prosperity.
OOU Vice Chancellor, Prof. Ayodeji Agboola, lauded Okenla’s collaboration with the university, emphasizing its alignment with OOU’s mission to produce job creators. He encouraged other alumni to follow Okenla’s example and support the institution’s development.
Prof. Oluwatoyin Ashiru, Chairman of OOU’s Governing Council, described the new centre as a significant boost to the university’s efforts to produce globally competitive, entrepreneurial graduates.
Okenla, reflecting on his journey, shared that he had always aspired to give back to his alma mater since his undergraduate days, when he engaged in entrepreneurial ventures such as selling bread on campus. He emphasized that holding a degree, even a Ph.D., should not deter graduates from exploring entrepreneurial opportunities.
He revealed that the foundation for the N350 million centre was laid on April 6, 2023, to mark his 59th birthday, with the promise to commission it on his 60th birthday. Okenla also announced an additional N50 million for equipping the centre and N100 million for its operations until it becomes self-sustaining. Furthermore, he pledged N20 million in seed funding for the first four businesses to emerge from the centre and offered to sponsor 20 students for capacity-building training.
Delivering the keynote address, Prof. Olusegun Sogbesan, Director General of Onitsha Business School, urged Nigerians to embrace entrepreneurship regardless of their academic qualifications, asserting that entrepreneurial education should be mandatory in all tertiary institutions.
The event concluded with the official commissioning of the centre by Pastor Matthew Ashimolowo of KICC, alongside dignitaries such as Senator Wasiu Eshinlokun Sanni, Senator Lekan Mustapha, and Otunba Bimbo Ashiru.
