TETFund Launches An Initiative To Lower Unemployment In Nigeria

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Sonny Echono, the Executive Secretary of Tertiary Education Trust Fund (TETFund), has expressed a commitment to supporting measures that enhance graduate employment in Nigeria. 

He made this pledge during an Implementation Support Workshop for the National Employability Benchmarking Programme at Nigerian universities in Abuja.

Echono emphasized the significance of implementing recommendations from a report submitted by the International Finance Corporation (IFC) to address the high rate of unemployment in the country. 

The report highlighted that Nigerian benchmark institutions scored an aggregate average of 2.3 out of 4.0 across five dimensions of employability, slightly above the global average of 2.2. 

However, it also pointed out shortcomings in digital learning strategies and faculty digital skills compared to global best practices.

He acknowledged that Nigeria faces challenges, particularly youth unemployment, which has been on the rise. 

The country's import-dependent economy has limited its ability to generate sufficient jobs, exacerbating the unemployment situation. 

To address these issues, Echono stressed the importance of aligning intervention activities with changing needs, fostering an entrepreneurship culture, and improving education delivery.

TETFund is actively working to address unemployment and other societal problems by strengthening entrepreneurship education and training. 

They have approved a Strategic and Operational Plan to refocus their entrepreneurship intervention for employability and innovation. 

Additionally, the fund is establishing entrepreneurship and innovation hubs in beneficiary institutions across the country to enhance entrepreneurship development, innovation, and employability in line with global best practices. 

These efforts aim to transform beneficiary institutions into knowledge catalysts and foster the translation of knowledge into practical solutions for societal challenges.

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