Against the backdrop of the rising rate of unemployment in Nigeria, the Founder and Chairman of International Centre for Leadership and Entrepreneurial Development (ICLED), Professor (Mrs) Olajumoke Familoni has joined thousands of other Nigerians in the crusade for skill acquisition, vocational training and entrepreneurial development as a channels for youth empowerment.

Speaking at an interview with CEOAfrica on its online television programme Meet your African CEO, Prof Familoni lamented the high rate of unemployment in the country which according to her, has led many Nigerian youths into other vices and illegal money-making ventures – a challenge she blames on lack of adequate youth empowerment.

While noting that the current political and economic climate of the country has made self-empowerment a necessity for youths, Prof Familoni, who is also the Chairman Board of Trustees Global Initiative for Entrepreneurs and Capacity Development, however criticised the preconditioned orientation graduates have about white collar jobs.

She said “Times have changed. There is over-saturation in the job market, be it in the public service or the private sector, people are getting laid off. The time is now when everyone has to identify their talents and passion and know how to translate that passion into a sustainable business that will yield revenue and be a source of livelihood. Unfortunately, graduates for long have been trained to leave school and get huge jobs in multi-national companies and oil companies.”

      Professor (Mrs) Olajumoke Familoni (L) with Mr Cletus Ilobanafor (R) at the Interview

The ICLED Chairman however stated that this limited entrepreneurial motivation among youths is one of the issues ICLED was established to address. She also noted that one of the aims of ICLED is to change people’s mind-set about business as a method of getting rich quick, which according to her is a common misconception among youths.

She said “Entrepreneurship should be ventured in with the right mind-set. Business is not making money overnight. As a matter of fact, being an entrepreneur is not about you starting an idea and you think everyone is going to buy it which would make you a millionaire the next day; that is not going to work. Everything is line by line, precept by precept, here a little and there a little.”

Prof Familoni therefore advised that students in the tertiary institutions should, before graduation, identify their passion, talents and skills and develop business ideas that would revolve around their skills and area of expertise. “Now that the NUC is emphasizing on the importance of entrepreneurial skills among students, youths in universities should come up with business ideas in their areas of interest and begin to develop something before they come out of school,” Prof Familoni advised.