To reduce the 33 percent unemployment rate in the country reported by the Nigerian Bureau of Statistics (NBS), the Tertiary Education Trust Fund (TETFund) has launched a National Employability Benchmarking Programme at Nigerian universities. This program is being carried out in conjunction with the International Finance Corporation (IFC) and various other local partners. Sonny Echono, the Executive Secretary of TETFund, explained that this was done as part of a comprehensive effort to boost the country’s employability rates and to improve higher education with market demands significantly.
Echono, who made his remarks in Abuja at the meeting, stated that the International Finance Corporation (IFC) is utilizing its vitae employability technology in order to offer a diagnostic macro overview of how successfully tertiary institutions in Nigeria are actualizing employability best practices in their endeavor. According to him, they would also evaluate how tertiary institutions have been building a foundation for employability and perhaps aiding the establishment of a comprehensive strategy for sector intervention.
Phase one of the initiative will enhance higher institutions’ standards.
IFC Vitae is the first of its type survey-based diagnostic instrument that evaluates, analyze, structures, and promotes higher education institutions’ employability performance. Graduates will have better employment prospects due to the program’s insights into how to strengthen the ecosystem supporting their success in the job market after graduation. When it comes to devising an intervention to boost graduate employment outcomes, this IFC-led diagnosis is the first phase. The program will help raise the level of excellence at the country’s higher education institutions compared to global standards.
Furthermore, he added that creating a system that enables young graduates to enter the workforce with no or little delay is one of the organization’s primary objectives. As a first steps, the program compiled an overview of current employability practices to determine whether or not the existing regulatory policy structure facilitated or hindered achievement. The study’s primary goals were data collection, verification, and analysis from the participating Nigerian universities. Cognity Advisory, a regional development consultancy on account of TETFund coordinated this phase in conjunction with IFC’s global experts on employability.
IFC Vitae will assist institutions in creating graduates enhancing roadmap.
Leaders from Nigerian higher education institutions were brought together at the recent stakeholders’ meeting, giving them a forum to address the sector-level and institutional potential for improving practices promoting graduate employability, present and identify problems from the scheme, and highlight policy and process shortcomings. IFC Vitae has been made available to many higher education institutions in different nations in Asia, Africa, the Middle East, the Caribbean, and Latin America, assisting them in creating a roadmap for enhancing graduate outcomes and putting institutional goals for graduate employment into action.
According to Echono, Nigeria’s high youth unemployment rate is a major problem because it is a developing nation. He stated that according to the National Bureau of Statistics (NBS), the unemployment rate in Nigeria is 33.3% and that’s among Nigeria’s youth, unemployment stands at 42.5% and underemployment at 21.0%. In addition, the 2022 Multidimensional Poverty Index, which the bureau recently released, shows that 133 million Nigerians are poor and live below the poverty line, suggesting that 63% of individuals living in the country are multidimensionally poor.
The TETFund will unleash youth potential in the country.
With collaboration from the Federal Ministry of Education as well as the National Universities Commission (NUC), TETFund coordinates the National Employability Benchmarking Programme. The executive secretary of TETFund further explained that synchronizing its intervention actions to meet evolving needs and boosting the country’s educational provision towards developing an entrepreneurial culture is the effective way to unleash the vast youth possibilities, solve unemployment as well as various societal issues, and set the country economy on the growing path.
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TETFund begins National Employability Program – Graduate employability in the country will be enhanced with the TETFund program. – Express your point of view.
This is really a nice initiative by Tetfund. The employability program will help people to be able to get jobs. I really applaud Tetfund.
One of the cardinal role of TETFUND is provide enabling environment and also provide skill acquisition to the young graduate across the country and with this new development lots will be archive in eradicating unemployment among graduate.
Graduate employability in the country will be enhanced with the TETFund program. This is nice project but government have a lot of work to do.
Prioritizing the development of the country requires establishing a structure that allows graduates to secure adequate job cause they are the future.
There will be great strides made toward eliminating graduate unemployment as a result of this new development, as TETFUND’s primary function has always been to create a welcoming atmosphere in which young people may learn and grow professionally.
This is a good initiative by Tetfund and it looking promising already. It comes with great benefits that will boost the country economy and even the education sector. it’s a good one.
The International Finance Corporation and a number of other local partners are working together to carry out this program.
Because they are the nation’s future, graduates must have access to a robust job market in order for progress to be a top priority.
This was done as part of a comprehensive attempt to increase the employability rates of the nation’s workforce and to significantly better align higher education with the demands of the economy.
To assess how well universities in Nigeria are doing at putting employability best practices into practice, the International Finance Corporation (IFC) is making use of its proprietary employability technology.
In addition to this, they would investigate the ways in which tertiary institutions have been laying the groundwork for employability and possibly contributing to the formulation of an all-encompassing plan for the intervention of the sector.
Using its innovative employability technology, the International Finance Corporation is giving Nigerian postsecondary institutions a macro-diagnostic view of how well they are putting employability best practices into place.
This is a good move by the TETFund for bring up this programs to help the people to get jobs, issue of unemployment in the country is one of problem we are facing, this kind program will help a lot
Increasing the country’s educational provision toward the development of an entrepreneurial culture while synchronizing its intervention measures to meet evolving requirements is the most effective strategy to release the tremendous youth potential that exists in the country.
The initiative will assist in elevating the quality of higher education provided by the nation’s institutions to a level that is more commensurate with international benchmarks.
International Finance Corporation (IFC) is using its own proprietary employability technologies to evaluate how successfully institutions in Nigeria are implementing employability best practices.
The rate of unemployment is on the high side. Thanks the TETFund national employability program that will make Graduates have better employment prospects due to the program’s insights into how to strengthen the ecosystem supporting their success in the job market after graduation.
If the National Employability Program organized by TETFund is successful then there is certainty that the rate of unemployment will drop in the country and many more graduate will be employable.
The first survey-based diagnostic tool of its kind, IFC Vitae measures, analyzes, organizes, and supports higher education institutions’ employment performance.
Tetfund’s endeavor is commendable and shows early signs of promise. It has several advantages that will strengthen the national economy and even the field of education. It’s a solid choice.