To rewrite the tale of unemployed graduates doing subpar jobs, the Central Bank of Nigeria (CBN) has launched the Tertiary Institutions Entrepreneurship Scheme (TIES) designed to catch budding entrepreneurs full of ideas and energy to pursue their dreams.
In 2019, the CBN declared its policies and programs to create 10 million jobs in five years.
This was the response to President Muhammadu Buhari’s resolve to lift 100 million Nigerians out of poverty through job creation and economic diversification.
One of the programs established by the CBN was the Tertiary Institutions Entrepreneurship Scheme (TIES).
The program is expected to stem the tide of graduates chasing white-collar jobs.
The CBN initiative was designed to encourage the spirit of entrepreneurship in young graduates, address unemployment and underemployment as well as lack of enthusiasm by graduates to start up a business either while in school or shortly after.
Speaking on the TIES program, CBN Governor Godwin Emefiele said the scheme is developed “in partnership with Nigerian polytechnics and universities to harness the potential of graduate entrepreneurs by creating a paradigm shift from the pursuit of white-collar jobs to a culture of entrepreneurship for economic development and job creation.”
