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Encourage youths to develop entrepreneurial culture- FIIRO

Mrs Gloria Elemo, Director-General, Federal Institute of Industrial Research, Oshodi (FIIRO), on Thursday said there was need to encourage youths to develop entrepreneurial culture to move Nigeria forward.
Elemo made the assertion while playing host to the House of Representatives Committee on Science and Technology led by Rep. Beni Lar on oversight visit to FIIRO, Lagos.
She said that youth and adult unemployment were on the increase in Nigeria, adding that a lot needs to be done to create jobs to rectify the situation.
Elemo said that what the county was experiencing today in terms of youth restiveness and insurgence was as a result of past neglect of youths by successive governments and lack of access to gainful employment.
“In spite of the concerted efforts of government at addressing the issue of unemployment, statistical references have shown that only about 1.8 million youths enter the labour market every year.
“There is an urgent need to address this ugly trend through the provision of gainful employment for our teeming youths.
“In developing economies like Nigeria, government is the largest employer of labour, but recent employment indices indicated that government cannot carry the burden of employment alone.
“The best way to go now is to encourage our youths to develop entrepreneurial culture.
“All over the world, entrepreneurship has been acknowledged as the surest way for massive jobs creation,” she said.
Elemo said that as part of the institute’s contribution to the Federal Government goal of jobs creation, FIIRO had trained over 5000 unemployed youths within the last three years.
In her remarks, Lar, the committee Chairman, said that the essence of their visit to FIIRO was to inspect the facilities and projects as they concern the execution of its 2018 budget.
She said that the visit was also to appreciate study and analyze the needs of FIIRO as the committee prepares for the 2019 budget of the Ministry of Science and Technology and its agencies.
“The visit will equally afford the committee the opportunity to scrutinise the agency’s spending of capital and recurrent items within the financial year.
“This is with the view to ensuring accountable management of funds as well as getting value for the money budgeted for the institute.
News
SEC Probes Ponzi Scheme Linked to FF Tiffany

The Securities and Exchange Commission has revealed plans to commence investigation into the activities of an entity operating under FF Tiffany, allegedly running a fraudulent investment scheme that has defrauded citizens.
A statement by the SEC on Tuesday in Abuja said preliminary information revealed that the scheme, which promised investors unusually high and unrealistic returns, had resulted in the loss of several billions of naira.
The SEC said it viewed the activity as a threat to investor confidence and the overall integrity of the financial system.
The commission assured the public that it was working closely with law enforcement agencies and other relevant bodies to bring everyone involved in the unlawful operation to justice.
According to SEC, those found culpable will be prosecuted in accordance with the Investment and Securities Act and regulatory provisions.
SEC reiterated its earlier warnings to the general public to desist from engaging in Ponzi or unregistered investment schemes that promised guaranteed or exaggerated returns.
“These schemes are not registered with the SEC and do not offer investor protection under the law.
“The commission is currently investigating 79 schemes and will make a statement on its findings at the conclusion of the investigation,” the SEC said.
The commission encouraged investors to conduct due diligence and verify the registration status of any investment firm or product by visiting the SEC website or contacting the commission directly through official channels.
SEC said it remained committed to its mandate of protecting investors, ensuring fair practices, and maintaining confidence in Nigeria’s capital market.
News
US Launches ‘Window on America’ @ Ogun Tech Hub

The Ogun Tech Hub in Abeokuta, Nigeria received a significant step towards increasing digital access and empowering young people as US Embassy in Nigeria launched the ‘Window on America’ facility.
The newly opened centre will offer free high-speed internet, computer access, and targeted programs to help young Nigerians build essential skills in technology, entrepreneurship, and leadership.
In a post on X (previously Twitter), the US Embassy described the hub as a modern ICT and resource centre meant to promote digital inclusion and provide youths with skills.
“Hello Abeokuta! We’re thrilled to announce the opening of the Ogun Tech Hub Window on America. This dynamic space offers free high-speed internet, computers, and programs to help young people gain tech, leadership, and entrepreneurial skills,” the Embassy wrote.
The facility was established in collaboration with the Ogun State and GFA Technologies, a software solutions provider for startups and SMEs.
The Embassy said the facility is part of its wider network of 29 American hubs across Nigeria, designed to empower youth and broaden access to global knowledge and opportunities.
Speaking during the launch, Ogun State governor Dapo Abiodun urged young people to use the ICT industry for self-sufficiency and competitiveness globally.
He lauded the program as a public-private cooperation that connects Nigerian youngsters with global innovations.
The governor said: “The Ogun Tech Hub serves as a collaborative space for technologists, startups, and social entrepreneurs to develop tech-driven solutions for societal challenges. The partnership is aimed at positioning Ogun State as a leading tech hub in Africa, supporting creative problem-solving and commercial innovation.”
With the ‘Window on America’ program fully operational, Ogun State is well-positioned to boost youth empowerment and digital literacy.
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