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Lagos Okays N15.5m For Varsity Entrepreneurs

Akinwunmi Ambode

The sum of N15.5 million has been approved by the Lagos State Governor, Mr Akinwunmi Ambode, as seed funding and grants for final year students enrolled in the Ready Set Work (RSW) programme established by the state government.

The initiative, which kicked off in June 2016, admitted 500 final year students from Lagos State University (LASU), Lagos State Polytechnic (LASPOTECH), and Lagos State College of Health Technology (LASCOHET).

RSW is an entrepreneurship and employability training program for final year students of tertiary institutions in Lagos State.

The programme is aimed at preparing the students for economic productivity as value-creating employees or employers of labour.

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At the end of the training, over 90 top performing students in the employability track will be placed in a 6-month internship positions with organizations like PwC, SystemSpecs, FCMB, GTBank, Access Bank, TOTAL, Jobberman, Stutern, among others.

With Mr Ambode’s recent financial commitment to the RSW programme, up to 80 students in the entrepreneurship track will likewise have the opportunity to partake in three to six-month entrepreneur apprenticeships where they can learn the tricks of the trade, understand and develop processes for various business functions, and build a network of vendors, industry peers, and mentors.

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Speaking on the development, the Special Adviser to the Governor on Education, Mr Obafela Bank-Olemoh, said that the focus of the initiative from the onset was to provide students in Lagos State with the tools, knowledge, and know-how to become effective employees or job creators.

“We already secured 90 internship slots for students in the employability track of the program and we realized that students in the entrepreneurship track could also benefit from experience in a structured, supervised work setting, where they can learn the rudiments of running a business effectively,” he said.

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He said the N15.5m committed by Governor Ambode’s administration would also provide seed funding and working capital for the top three teams to emerge from the RSW Business Pitch Competition, which will hold on September 3rd.

This announcement comes as the 13-week program enters its penultimate week, while a Graduation Ceremony has been scheduled for September to close out the program and celebrate the achievements of students who successfully complete their courses.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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