The Vice-Chancellor, National Open University of Nigeria (NOUN), Prof. Olufemi Peters, has emphasised the need to equip young talents with the necessary tools, knowledge and mentorship to enable them transform their visions into successful and thriving enterprises.

He stated this on Wednesday, October 11, 2023 while delivering his opening remarks at the virtual incubatee induction ceremony, organised by the Centre for Entrepreneurship & General Studies (CE&GS), National Open University of Nigeria (NOUN).

Peters, who was represented by the Deputy Vice-Chancellor, Administration, Prof. Isaac Buswat, noted that entrepreneurship plays a pivotal role in driving the economic growth and societal progress, especially in a world characterised by rapid change and innovation.

The ceremony featured the induction of 58 young and budding entrepreneurs into the directorate’s incubation centre and mentorship scheme.

The Guest Speaker, Alhaji Dr. Umar Kwairanga, who is the Chairman, Nigerian Exchange Group (NGX) while delivering his lecture titled “Navigating the Entrepreneurial Journey from Idea to Start-up,” stated that only a small percentage of individuals who are entrepreneurs can convert these ideas into viable products and services.

“These ideas can be in the form of new products, innovative services, or even improvements on already existing ideas. That is what makes entrepreneurs different is their ability to identify problems, offer solutions, and turn these innovative ideas into practical or services that meet a viable market,’’ Kwairanga said.

The Director CE&GS, Dr. Samuel Awolumate, earlier in his address, underscored the dynamic and demanding nature of this journey, stressing the importance of creativity, strategic planning, resourcefulness, and unwavering commitment.

Awolumate, thereafter, administered the incubatee pledge to the inductees as well as extending a warm welcome to them all, encouraging them to embrace the incubation process as a means to realize their visions and contribute to the economy while leaving a lasting impact.

He expressed his appreciation to the entire university management for their unwavering support in making the incubatee induction ceremony a success.

Goodwill messages were delivered by the Former Deputy Vice-Chancellor, Technology, Innovation and Research (TIR), Prof. Monioluwa Olaniyi, Director, Directorate of Quality assurance, Prof. Juliet Inegbedion and Director, Directorate of Advancement and Linkages, Prof. Ileka Omorogieva, urging the inductees to strive to be the best in their entrepreneurial pursuits.