ABUAD and Ekiti State Ministry Partner to Boost Youth Employment and Economic Growth

Afe Babalola University (ABUAD) and the Ekiti State Ministry of Wealth Creation and Employment have signed a Memorandum of Understanding (MoU) to collaborate on initiatives aimed at promoting youth employment, skills development, financial inclusion, and sustainable economic growth in Ekiti State. The partnership, formalized on April 9, 2025, outlines six key areas of collaboration.

These areas include implementing a Labour Market Information System to connect job seekers with potential employers, establishing an Employment Trust Fund to provide financial resources for local businesses, and providing training to 100,000 youths in basic accounting, finance, and digital literacy through Wema Bank. Additionally, the partnership will train 500 youths in vocational skills through Project TIDE/NASENI and introduce an Electric Tricycle Initiative to address transportation challenges. Agency Banking will also be promoted to enhance financial inclusion.

The Employment Trust Fund, which has passed its second reading in the State House of Assembly, will provide access to financial resources for local businesses with an initial funding of N250 million and a long-term plan to secure N1 billion annually. ABUAD’s Vice-Chancellor, Prof. Smaranda Olarinde, has proposed forming a dedicated Implementation Committee to oversee the partnership’s execution.

Both parties are preparing a draft MOU and will meet on April 22, 2025, to discuss significant issues and develop a clear pathway for the next six months. This partnership aims to have a lasting impact on Ekiti State’s development and its youth population.