Ondo state plans to create two new technical colleges for skill development and give a total of N60 million in entrepreneurship grants.
The state governor, Lucky Orimisan Aiyedatiwa, spoke on Saturday at the Ondo State Entrepreneurship Summit in Akure.
The summit’s subject was “Innovative Entrepreneurship for a Sustainable Economy”.
Aiyedatiwa stated that the projects illustrate the state’s commitment to promoting the development of technical skills by young people.
The governor stated that present economic realities require young people to learn technological skills and become entrepreneurs.
According to Aiyedatiwa, the 2024 budget included funding for the development of two new model technical colleges.
These, he said, are in addition to the existing ones across the state which will also receive attention.
“Entrepreneurs have always been at the forefront of transformative change; creating jobs, driving productivity, and catalyzing economic development,” the governor said.
“Our administration in Ondo state since assumption of office has placed emphasis on fostering an enabling environment for entrepreneurship and innovation to thrive.
“We recognise that government alone cannot drive economic growth; rather, it is through collaboration with the private sector and the empowerment of our youths that we can unlock the full potential of our economy.”
Aiyedatiwa announced an increment in the number of beneficiaries of the grants for young entrepreneurs in the state from the initial 10 to 20. He revealed that the empowerment fund has been increased from N30 million to N60 million at N3 million per beneficiary.
“We have also initiated programmes to cushion the effect of the current state of the economy. N220m was recently approved for our artisans, traders and SMEs as grants,” he added.
“Our dear Sunshine State will be hosting the Global Entrepreneurship Festival, indubitably the biggest entrepreneurship event in the world.
“Global leaders, world-renowned speakers and entrepreneurs from all over the world will be present in Ondo State during the Global Entrepreneurship Week in November this year.”