In the rapidly evolving global economy, the disconnect between industry requirement and tertiary institutions’ output in Nigeria was becoming a pressing concern. While employers demand graduates, who are not only academically qualified but also technologically proficient and equipped with problem-solving skills to thrive in competitive environments, the promise of human capital was undermined by educational systems that failed to respond swiftly to the realities of the labour market due to dominance of theory-based teaching system in most tertiary institutions.
However, the planned formalisation of partnership between Tertiary Education Trust Fund (TETFund) and Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) is expected to nip the challenge in the bud.
At a meeting hosted by TETFund, the Executive Secretary of the agency, Arc. Sonny Echono, greeted the partnership opportunity with NACCIMA, commending the organisation for its leadership role in Nigeria’s private sector. He expressed optimism that the MoU, when signed, will bridge the gap between industry needs and the tertiary education sector.
Echono highlighted that one of the core challenges confronting graduates is the mismatch between acquired skills and the expectations of employers. He noted that while the country produces thousands of graduates annually, many have remained unemployed or underemployed because their training could not align with modern industrial requirements.
The TETFund boss is, however, optimistic that through the collaboration with NACCIMA, research funding, academic programmes and innovation hubs in universities will be guided by real industry demands rather than outdated academic traditions. The partnership is equally expected to serve as a platform to promote entrepreneurship, vocational skills and technology transfer among students and researchers.
Echono explained that industries represented by NACCIMA would be able to provide insights into market trends, technological changes and emerging skills as well as enable universities, polytechnics and colleges of education to reform their curricula accordingly. Such alignment, he argued, will not only improve graduate employability but also boost Nigeria’s capacity for industrialisation and global competitiveness.
Furthermore, Echono emphasised that the collaboration must go beyond the signing of MoU to evolve into tangible programmes such as industrial training placements, mentorship initiatives and joint research projects so that when the academia and industry work hand-in-hand, more jobs would be created through innovations.
No doubt, this model of partnership mirrors best practices in advanced economies, where universities function as engines of innovation by producing graduates, who are industry-ready and capable of driving national development.
Echono said: “We have a robust set of engagements that have taken place before now, which in our belief, should culminate into a partnership that will serve our country, and that is the reason the joint MoU will accelerate events and ensure that as a country, some of the factors constraining economic growth are jointly addressed by us.”
With its enormous human and natural resources, the stage is set for Nigeria to break into the global economy and join other countries such as China, India, Japan, South Korea, Malaysia, Singapore and Brazil if only it can take the right decisions and implement policies that focus on the twin advantages of natural resources and human capital.
Earlier, NACCIMA President, Jani Ibrahim, lauded TETFund for its willingness to engage with the private sector, stressing that such collaborations are critical for driving innovation and competitiveness. He also applauded the exceptional leadership of the Fund under Echono’s direction.
“You have kept education, research and innovation at the very heart of national development agenda, and for this, we want to commend you on behalf of NACCIMA,” he stated.
“This visit of NACCIMA and the organised private sector is not just a courtesy visit. It is the beginning of deeper partnership for engagement because we believe that the mandate of TETFund aligns with Nigeria’s aspiration to achieve a $1 trillion economy by 2030. You have done extremely well coming on board as the Executive Secretary of TETFund.”
Ibrahim noted that the partnership will not only strengthen research and development in Nigerian tertiary institutions but also ensure that graduates are better equipped with skills relevant to industry demands. He further pledged NACCIMA’s commitment to supporting initiatives that align academia with industry, pointing out that sustainable economic growth can only be achieved when education and business work in synergy.
According to the NACCIMA President, the private sector is ready to provide the needed support in areas such as entrepreneurship, skills acquisition, and technology transfer.
Highpoint of the meeting was the setting up of a joint committee to formalise the process as both organisations reaffirmed their resolve to ensure that the forthcoming MoU is effectively implemented with clear strategies for measurable impact. They also appointed designated focal points from both sides for effective coordination and agreed to hold regular review meetings to assess progress, identify challenges, and explore new areas of collaboration that will enhance Nigeria’s socio-economic development.
Industry stakeholders said the collaboration between TETFund and NACCIMA marks a decisive step towards addressing the long-standing disconnect between Nigeria’s tertiary education sector and the needs of industry. They averred that by aligning academic research, curricula and innovation with real market demands, the partnership has the potential to transform graduates into highly skilled and industry-ready professionals.
