The Minister of Education, Olatunji Alausa, has called for a comprehensive reform of financial systems to better empower Nigerians, especially youth, in establishing small and medium enterprises (SMEs) centered on home-grown technologies.

Speaking at the inaugural TETFund National Research Fair in Abuja, Alausa emphasized that such reforms are vital to realizing President Bola Tinubu’s Renewed Hope Agenda. He urged financial institutions, including commercial banks, to align their strategies with the government’s vision by offering targeted funding for SMEs leveraging locally developed technologies.

Alausa stressed that Nigeria’s economic future hinges on its youth’s ability to innovate and create businesses that address key challenges like food security and industrialization. He added that promoting home-grown technologies could not only create jobs and wealth but also drive Nigeria’s industrialization.