Nigeria: FG Eyes N300bn Boost for Graduate Startups

The Federal Government may soon unveil a N300 billion Graduate Entrepreneurship Fund aimed at helping young Nigerians establish their businesses and achieve economic independence. The Minister of Education, Dr Tunji Alausa, announced this initiative, which proposes up to N10 million in funding per beneficiary, during the 28th convocation lecture of Lagos State University (LASU).

Speaking on the theme “Patriotism, Citizenship and National Ownership: The Imperative of Collective Responsibility for Nigeria’s Future,” Alausa stated that the new fund is part of a larger national effort to transition from a resource-dependent economy to one centred on knowledge and innovation. The minister described the fund as a critical tool for reshaping Nigeria’s economic future by empowering university graduates.

Education as the Backbone of Nation-Building

Dr Alausa drew a strong connection between patriotism and education, saying that Nigeria’s survival and development depend on how well its citizens are equipped with knowledge and skills. “Patriotism goes beyond mere attachment to national symbols; it is active engagement in nation-building and fostering unity in diversity,” he said.

He also noted that citizenship involves fulfilling civic duties and respecting the nation’s laws and resources, adding that “in all of this, education is a catalyst.” According to the minister, the current administration is committed to inclusive education that targets technical, vocational, and entrepreneurship training, alongside promoting access for the girl child and enhancing quality assurance.

The Graduate Entrepreneurship Fund is not the only reform in sight. Alausa revealed that the federal student loan scheme has already disbursed over N45 billion, further showcasing the government’s drive to make higher education both accessible and transformative.

Calls for Renewed Civic Consciousness

The Vice Chancellor of LASU, Prof. Ibiyemi Olatunji-Bello, echoed the minister’s sentiments, describing Nigeria as “our shared hope built by our past heroes.” She called for a collective rekindling of national values, urging citizens to take greater ownership of Nigeria’s future.

With youth unemployment remaining one of Nigeria’s most pressing issues, the proposed Graduate Entrepreneurship Fund has the potential to spark economic change—if fully implemented. Observers now await the rollout details and the transparency mechanisms that will ensure the fund reaches the right hands.