Prof. Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has delivered a powerful message to young Nigerian graduates, urging them to harness the vast opportunities available in the digital economy to drive national development and create employment.
Digital Age Presents Unprecedented Opportunities
The renowned tax expert and Yaba College of Technology alumnus made this compelling appeal during the 37th Convocation Lecture of his alma mater, held on 20 November 2025. The event carried the timely theme: 'Entrepreneurship development in the digital age: Leveraging technology for job creation and economic growth.'
Oyedele emphasized that entrepreneurship in the digital age represents Nigeria's most urgent economic priority. He noted that technology has fundamentally transformed access to opportunities, enabling young graduates to develop innovative products and connect with customers worldwide instantly.
Government Initiatives Supporting Digital Transformation
The fiscal policy expert highlighted several key government programs designed to empower young Nigerians in the digital space. These strategic initiatives include:
- The 3MTT Initiative for technology skill development
- The Nigeria Start-up Act supporting innovation ecosystems
- Nigeria Education Loan Fund (NELFUND) for educational financing
- National broadband and digital infrastructure investments
- Progressive tax reform laws encouraging business growth
According to Oyedele, these comprehensive measures are specifically crafted to equip Nigerian youth with the necessary skills, resources, and enabling environment to thrive in the rapidly evolving digital economy.
Call to Action for Graduates and Institutions
Addressing the gathering of graduates, Oyedele delivered an inspiring message: "Your smartphone is your workstation, your imagination is your production line, and your competence is your global identity." He encouraged them to leverage their skills, cultivate the right mindset, and demonstrate courage in pursuing digital entrepreneurship.
The tax reform chairman stressed the importance of creativity, agility, and commitment to continuous learning. He advised graduates to view failure not as a setback but as a valuable stepping stone toward ultimate success.
Oyedele also called on educational institutions like YABATECH to prioritize competency-based learning, enhance digital literacy programs, and foster innovation ecosystems. He urged regulators to create enabling environments that support rather than stifle innovation, while asking the government to provide infrastructure that allows local talent to scale effectively.
YABATECH's Transformation and Future Plans
In a significant announcement, the Rector of Yaba College of Technology, Dr. Ibraheem Abdul, revealed the institution's transition into a specialized University of Technology and Vocational Training. This move marks a new era for technical and vocational education in Nigeria, aligning with the institution's commitment to producing job creators rather than job seekers.
Abdul outlined several key initiatives that will drive this transformation:
- Establishment of a national skills resource center
- Expansion of a solar-powered smart campus ecosystem
- Launch of YABATECH's science, technology, and business incubation hub
"These projects aim to foster green entrepreneurship, support startups, and develop a skilled workforce for both local and international markets," the Rector stated.
He expressed gratitude to partners, stakeholders, and alumni for their continued support, emphasizing that these strategic initiatives will drive national progress, stimulate job creation, and empower Nigerian leaders to shape the country's digital economy future.
