The University of Medical Sciences (UNIMED), Ondo, has stated that academic excellence alone is no longer sufficient to guarantee the success of graduates in today’s evolving global economy.

To this end, the institution reaffirmed its commitment to equipping students with entrepreneurial and innovative skills needed to address societal challenges and create sustainable opportunities.

This was stated during the institution’s second annual Entrepreneurship and Innovation Advancement Lecture, organised by the Centre for Entrepreneurship Development and Innovation (CEDI), with the institution leveraging support from a British Council partnership grant to drive its entrepreneurship agenda.

The lecture series, which has become a flagship programme of the university, was designed to inspire creativity, innovation, and problem-solving among students while positioning them as job creators rather than job seekers in an economy grappling with rising unemployment figures.

The Director of CEDI, Prof. Wahab Owolawi, emphasised the importance of entrepreneurship as a vital tool for national development, revealing that cash prizes had been earmarked for the top three winners of the accompanying innovation competition aimed at encouraging students to develop practical solutions to societal problems.

Owolawi noted that the lecture series was part of the university’s strategy to cultivate a culture of innovation and enterprise among its students, preparing them to navigate the challenges of the contemporary job market and contribute meaningfully to economic growth.

Representing the Vice-Chancellor at the event, the Deputy Vice-Chancellor, Prof. Patrick Osho, emphasised that universities must go beyond traditional classroom teaching to equip students with practical and entrepreneurial skills that would enable them to thrive in a competitive global economy.

“Universities must go beyond classroom teaching to equip students with practical and entrepreneurial skills.

“Through CEDI and other experiential learning initiatives, we are empowering our students to transform innovative ideas into viable businesses, create employment opportunities, solve societal problems, and contribute meaningfully to economic growth and national development.”

The Oyo State Commissioner for Establishment and Training, Prof. Daud Adelabu, who was represented by Prof. Obamuyi of the Federal University of Technology Akure, delivered the keynote address on the theme of the seminar, “Entrepreneurship: The Ultimate Solution to Nigeria’s Unemployment”.

Adelabu urged students to see challenges as opportunities for enterprise, stressing that setbacks are often stepping stones to success.

He called on young Nigerians to embrace the entrepreneurial mindset as a viable pathway to economic independence and national development.

Also speaking at the event, the chairman of the Association of Small Scale Enterprises in Nigeria and renowned entrepreneur, Dr Femi Egbesola, urged students to become producers rather than consumers in the Nigerian economy

“The world is not waiting to hand you opportunities; it rewards those who create solutions. Stop waiting for jobs; create jobs. Stop waiting for wealth; create wealth through innovation, collaboration, and problem-solving.”

The event featured presentations from student innovators who showcased their entrepreneurial projects and ideas, with the top three winners receiving cash prizes as part of the university’s commitment to rewarding innovation and enterprise.