As part of a deliberate policy to encourage entrepreneurship among students, Edo University, Iyamho says it will empower its graduating students with the best entrepreneurial business ideas with N5 million.
Emmanuel Aluyor, the Vice-Chancellor of the University announced this on Wednesday at a press conference as part of activities to mark the institution’s maiden convocation ceremony at the school campus, Iyamho in Etsako West local government area.
Aluyor, also disclosed that the Chairman Caverton Offshore Support Group, Aderemi Makanjuola, would be formally installed as the first Chancellor of the institution next Saturday, 2nd of November.
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He said the N5million empowerment would create an opportunity for the students to exercise practical skills in all that they were taught by lecturers thereby making them become employers of labour.
According to him, “we have looked at the world and seen that innovation and creativity are what drives the world today, and we found out that the percentage of unemployed graduates in Nigeria today is alarming”.
“We found out that a lot of these graduates are unemployed because a lot of our institutions teach them ‘to go and look for a job,” he added.
“And we felt that we need to do something here in Edo University that could psyche the minds of our students while they are here so that when they graduate aside from teaching them the things they need to know to be able to be best if they get a job, they can also look inwards and develop ideas that can put on both paper and practice that can generate money.
“In that way, they will not just make money but they can actually employ even their contemporaries,” he said.
He further disclosed that the University Governing Council had approved 100 scholarships each year to indigent students of Edo State origin and full scholarships to five undergraduate best applicants to Edo University irrespective of State of origin.
The Vice-Chancellor said five out of 50 graduating students will be awarded first-class Honours, 26 graduands second class Honours (Upper division), 16 students with second class Honours (Lower division) while three students will be presented with third-class Honours.
He, however, regretted that 26 students will not be graduating due to their failure in some courses while some had left the institution.
He explained that the students’ population of the university was 76 at the inception of academic programmes, and that as at 2019/2020 academic session, the population had increased to 1,378.
“On inception in 2015/2016 academic session the National University Commission approved the quota of 500 students for admission into the University. As at today, the quota has been increased to 1,800.
Aluyor lamented high cost of delivery quality education and management resources in Nigeria, and noted that with effective management the university had enjoyed uninterrupted academic calendar and industrial harmony.
He disclosed that the Governor of Central Bank of Nigeria, Godwin Emiefele would deliver the first convocation lecture of the university with the theme, “The role of Monetary Policy: Towards Economic Growth in Nigeria”, this week Friday.
