The Tertiary Institutions Entrepreneurship Scheme (TIES), introduced by the Central Bank of Nigeria (CBN), in its effort to boost economic growth and reduce unemployment among graduates of Nigerian polytechnics and universities has received recommendations from various stakeholders.
The apex bank in a statement signed by Philip Yila Yusuf, Director, Development Finance Department, disclosed that the program is designed to transform young graduates from the culture of hunting white -collar jobs to a culture of entrepreneurship geared towards job creation, economic growth and sustainable development.
The scheme is divided into three categories containing: soft loans that are meant for graduates of Nigerian polytechnics and universities that have undergone entrepreneurship training. Equity Investment is in form of injection of fresh capital for start-ups and expansion of established businesses.
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While the third portion is a developmental component in form of a grant for polytechnics and universities through a biennial national entrepreneurship competition to promote entrepreneurial talent hunts among undergraduates and encourage innovations that are commercially viable.
Stakeholders in agriculture while speaking with journalists on the scheme commended the CBN adding that the scheme if well implemented with proper transparency, would boost economic growth, boost food production and create jobs.
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Dr Patrick Adebola, the Executive Director of the Cocoa Research Institute of Nigeria (CRIN), Ibadan, implore graduates to use the scheme to practicalize what they have been trained, he also advised CBN to carry along the agricultural research institutes and colleges of agriculture for technical support of the funds for agriculture.
Also speaking was Prof Olawale Mashood Aliyu, the Director, Research Innovation and Training, Kwara State University, Malete who advised that proper monitoring and evaluation structure should be put in place to protect the scheme from incessant strikes for the success of the initiative.
