Leader of the 10th Senate, Senator Opeyemi Bamidele and chairman, Governing Council of Yaba College of Technology, Lagos, Prof. Funso Afolabi, have stressed the need to deploy new technologies for the development of startup businesses that can catalyse exponential economic growth.
They spoke at the 37th convocation lecture of the institution with the theme of the convocation lecture titled “Entrepreneurship Development in the Digital Age: Leveraging Technology for Job Creation and Economic Growth.”
Delivering his lecture in a ceremony that had over 8,000 graduates who converged on the auditorium of Yaba College of Technology, facing uncertain futures, shrinking opportunities, whether in securing paid jobs or exploring generational wealth that entrepreneurship always offers, Bamidele canvassed greater investments in digital technologies and entrepreneurial training as measures to address the country’s youth unemployment rate.
He pointed out the trends in different parts of the world, whether in the established or emerging economies. The trends, he said, show that it is no longer tenable for governments “to provide white-collar jobs for graduates from higher institutions.”
He, therefore, highlighted the emergence of the digital economy, which he said new technologies and digital skills had been driving. He explained the roles of the younger generations, especially new graduates, in moving the country’s digital economy through new technologies and requisite skills in blockchain, data analytics, artificial intelligence, cybersecurity, web development, content marketing, cloud computing, immersive technologies, and other forms of digital marketing.
The senate leader emphasised the centrality of digital skills “to the world of the 21st century.” He argued that countries seeking economic growth and sustainability in the present world should prioritise the need to import innovative knowledge and digital skills for the advantage of their people, especially the youth population.”
He also pointed out that it “is no longer realistic the world over for governments to provide white-collar jobs for all the young graduates from the universities, polytechnics, technical colleges and other tertiary institutions. This is no longer fashionable, nor is it sustainable. The governments have now assumed the positions of creating environments that can enable creativity, innovation and invention.”
Bamidele added that governments are seriously looking for ways to reduce the cost of governance and are taking bold measures to drive innovation through synergy with the private sector. This is evident in the recent resolution of the National Assembly to enact the Nigeria Data Protection Commission Act, 2025, to reflect new realities in the country’s digital environment.”
Governing Council of the College, Prof. Funso Afolabi. In the event, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, appreciated the guest lecturer for prioritising matters of public interest above his personal comfort.
He noted that Bamidele put aside the load of work on his table “to share his perspectives on the necessity of digital skills for entrepreneurial development in Nigeria and how the new graduates can leverage the latest skills and technologies to tackle the spate of unemployment in the federation.
In his welcome address, the Rector of the Institution, Dr Ibraheem. Abdul said the lecture captured the essence of the transitioning of Yaba College of Technology to a specialised University of Technology and Vocational Training, saying the essence is to fill the skill gaps in the country’s digital space.
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