University Of Ibadan Commits To Fostering Partnerships With SMEs

By: Olubunmi Osoteku

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Nigeria’s Premier University, the University of Ibadan, Ibadan, has pledged its commitment to fostering partnerships with Small and Medium Enterprises (SMEs) with zeal and fervor.

The Deputy Vice-Chancellor (DVC) Administration of the institution, Professor Peter Olapegba, who disclosed this, noted that the commitment is in line with the university’s mission to contribute to the transformation of society through creativity and innovation, and with a view of proffering solutions to challenges facing SMEs.

Professor Olapegba stated this on behalf of the Vice-Chancellor, Professor Kayode Adebowale, at the opening of the University of Ibadan SME Fair 2024, with the theme: “Moving the SME Glocal Community Forward Through Technology, Innovation and Creativity.”

The DVC said studies have shown that SMEs, whether in very developed, high income, or developing nations, contribute a great deal to economies globally, noting that over 60% of the GDP and over 70% of the total jobs available in a country like Nigeria can be attributed to SMEs and the informal sector.

He charged government at all levels to tap to its fullest, the multi-dimensional opportunities and gains inherent in SMEs to keep the teeming youths busy and gainfully employed.

The Keynote Speaker, a UI @75 Ambassador, Deputy Managing Director of Providus Bank, and an alumnus of the university, Mr Kingsley Aigbokhaevbo, represented by the Group Head of Corporate Banking and Structured Finance of Providus Bank, Mr Abiodun Ariyo, commended the UI Management for putting in place a structure that fosters partnerships with SMEs.

Aigbokhaevbo said “Providus Bank was proud to partner with the University of Ibadan SME Fair and gave an assurance of support for continuity and sustainability from the bank, encouraging the participants to launch into the market to start SMEs, and imbibe the culture of incubator and accelerator to support start-ups and mentorship”.

He charged entrepreneurs to re-strategise, re-brand and re-package their products through creativity, innovation, diversity, inclusion, business remodelling, designs and thinking, talent development, partnerships, networking, attending training and workshops, conferences & webinar, with community engagement.

The Chairman of the occasion, the immediate past Vice-Chancellor of the University of Ibadan, Professor Idowu Olayinka, appreciated the University Management for the resourceful structure, innovation and creativity aimed at reducing the unemployment rate in the society.

Professor Olayinka said UI does not train students for research purposes only, but to impact society through self-dependence and entrepreneurship, adding that UI graduates who are entrepreneurs are making the university proud globally.

The DVC, Research, Innovation and Strategic Partnerships, Professor Oluyemisi Bamgbose, SAN, stated that the event, which is the brainchild of the university, is a celebration of creativity, innovation and entrepreneurship.

Professor Bamgbose said the SME Fair reflects the university’s commitment to supporting SMEs as the foundation of economic growth and sustainable development through innovation-led growth, creativity and academic excellence.

She encouraged the participants to embrace a mindset of continuous learning and openness to new ideas, as the trade fair is a platform for building new networks, sharing knowledge, and inspiring the next generation of entrepreneurs.

The Convener of the UI SME Fair 2024 and Head, Department of Peace, Security and Humanitarian Studies, Professor Ruth Adio-Moses, stated that the fair is where the spirit of SMEs, which is the back bone of the economy, is celebrated.

Professor Adio-Moses said in the increasingly interconnected world, the concept of Glocal, “thinking globally while acting locally “ has never been more relevant, noting that SMEs have the unique ability to drive change and inspire growth by staying deeply connected to their communities while teaching new markets around the world.

She stated that technology, innovation and creativity propel growth in SMEs, and encouraged the participants to embrace the tools, support one another, and prosper in the borderless market, while expressing the hope that the fair would assist the studentpreneurs present in connecting to investors who would help them improve and expand their businesses.

The two-day UI SME Fair 2024, the fourth edition, featured varieties such as panel discussions, and studentpreneur pitching competition. It was supported by Providus Bank, Bank of Industry, African Young Brains, House of Dexterity and AGRIM International FZE.

 

Olusola Akintonde

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