TIES’ implementation’ll boost contribution of non-oil sector to GDP-CBN

The Central Bank of Nigeria (CBN) has said that the implementation of Tertiary Institutions Entrepreneurship Scheme (TIES) would help to  boost contribution of non-oil sector to the nation’s Gross Domestic Profucts (GDP).

The apex bank recently release guidelines for implementing the Tertiary Institutions Entrepreneurship Scheme, saying that the scheme would provide an enabling environment for co-creation, mentorship and development of entrepreneurial and technological innovations.

The CBN stated that the scheme will also Fast track ideation, creation and acceleration of a culture of innovation driven entrepreneurship skills among graduates of polytechnics and universities in Nigeria as well as promote gender balance in entrepreneurship development through capacity development and improved access to finance;

Highlighting the details  of the guidelines, the CBN said  the focal targets under the Scheme include Gradpreneur-led innovative start-ups and businesses with access to

finance under the Scheme – 25,000 annually;

Sustainable jobs created by gradpreneur-led businesses financed under

the Scheme-75,000 annually;

and Female-gradpreneurs financed as a

under the Scheme with 50 per cent per annum.

It further stated that Activities to be covered under the Scheme include innovative start-ups and existing businesses owned by graduates of Nigerian polytechnics and

universities in the areas:Agribusiness – production, processing, storage and logistics and Information technology which involved– application/software development, business

process outsourcing, robotics, data management;