Afe Babalola University Adopts Innovative Partnership with Ekiti State Ministry of Wealth Creation and Employment.

Afe Babalola University Adopts Innovative Partnership with Ekiti State Ministry of Wealth Creation  and Employment.

Afe Babalola University (ABUAD) and the Ekiti State Ministry of Wealth Creation and Employment have  agreed to have  Memorandum of Understanding (MoU) to collaborate on initiatives aimed at promoting youth employment, skills development, financial inclusion, and sustainable economic growth in Ekiti State. This partnership was formalized during a meeting held on Wednesday, April 9, 2025, at the university.

The meeting, which brought together top officials from both parties, outlined six key areas of collaboration. These include the Labour Market Information System (LMIS) to connect job seekers with potential employers, the Employment Trust Fund to provide financial resources for local businesses, Wema Bank Training to equip 100,000 youths with skills in basic accounting, finance, and digital literacy, Project TIDE/NASENI to train 500 youths in vocational skills, the Tricycle (Electric Tricycle Initiative) to address transportation challenges, and Agency Banking to promote financial inclusion.

The LMIS aims to tackle youth unemployment by allowing employers to list job openings and enabling job seekers to apply directly. 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.

Prof. Smaranda Olarinde, Vice-Chancellor of ABUAD, expressed the university's willingness to collaborate with the Ministry on these initiatives and proposed the formation of a dedicated Implementation Committee to oversee the partnership's execution. The committee comprises Prof. Smaranda Olarinde, Engr. Prof. Adeniran Afolalu, Prof. Adebayo Ogundipe, Engr. Prof. Femi Onobonoje, and Dr. Sesan Asubiojo.

Both parties have commences preparation. of draft MOU to signal commencement of the partnership  This will be followed by a meeting scheduled for Tuesday, April 22, 2025, to discuss significant issues and develop a clear pathway for the next six months. This partnership is poised to foster meaningful collaboration and have a lasting impact on Ekiti State's development and its youth population.