The state is also looking to award a cumulative total of N60 million in entrepreneurship grants.
Lucky Orimisan Aiyedatiwa, the state governor, spoke on Saturday at the Ondo State Entrepreneurship Summit in Akure.
The summit was themed “Innovative Entrepreneurship for Sustainable Economy”.
Aiyedatiwa said the projects demonstrate the state’s determination to promote the acquisition of technical skills by young people.
The governor said current economic realities have made it necessary for young people to gain technical skills and become entrepreneurs.
Aiyedatiwa said the 2024 budget made provisions for the establishment of the two new model technical colleges.
These, he said, are in addition to the existing ones across the state which will also receive attention.
“Entrepreneurs have always been at the forefront of transformative change; creating jobs, driving productivity, and catalyzing economic development,” the governor said.
“Our administration in Ondo state since assumption of office has placed emphasis on fostering an enabling environment for entrepreneurship and innovation to thrive.
“We recognise that government alone cannot drive economic growth; rather, it is through collaboration with the private sector and the empowerment of our youths that we can unlock the full potential of our economy.”
Aiyedatiwa announced an increment in the number of beneficiaries of the grants for young entrepreneurs in the state from the initial 10 to 20.
He revealed that the empowerment fund has been increased from N30 million to N60 million at N3 million per beneficiary.
“We have also initiated programmes to cushion the effect of the current state of the economy. N220m was recently approved for our artisans, traders and SMEs as grants,” he added.
“Our dear Sunshine State will be hosting the Global Entrepreneurship Festival, indubitably the biggest entrepreneurship event in the world.
“Global leaders, world-renowned speakers and entrepreneurs from all over the world will be present in Ondo State during the Global Entrepreneurship Week in November this year.”
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