Fanimokun Donates N3.5bn Entrepreneurship Centre to YABATECH

Funmi Ogundare

A seasoned administrator, technocrat and developmental economist, Chief Tunde Fanimokun, yesterday donated the sum of N3.5 billion to Yaba College of Technology to build an entrepreneurship centre in honour of late Chief Wahab Folawiyo.

The centre which will be named Folawiyo Entrepreneurship Centre ( FEC), will comprise four lecture theatres with 500 seating capacity each,  19 classrooms, offices for staff, spaces for vocational activities as well as car park.

Speaking at the ground breaking ceremony, held at the college’s main campus, Fanimokun explained that it had become imperative for the country to diversify into entrepreneurship which will help boost its economy rather than its excessive dependence on revenue from oil and gas as wells as importation.

Its excessive dependence on revenue from oil and gas, he stated, has led the country into youth unemployment, criminal neglect of agricultural production and conspicuous absence of visionary leadership with lack of development model matrix.

“With entrepreneurship training, skill acquisition and promotion of SMEs, the sky is the limit for the future of the youths in our potentially great nation,” he stated.

Fanimokun who recently turned 80, recalled that 40 years ago, the late Folawiyo, had  initiated him formally into the twin subjects of entrepreneurship and philanthropy when he joined his business empire  as an executive director (projects).

He stated that since then, he had become a staunch advocate of entrepreneurship as most vital pillar for sustainable development and everlasting prosperity in Nigeria.

According to him: “I became greatly interested in this most vital subject-matter after my transition without any plan from the Lagos State Government  Public Service at age 40 in 1985  and  since then, I have become a strong advocate for the propagation and promotion of entrepreneurship at all levels, most especially, the young generations.

 “Before then, I learnt only informally about the subject matter under the first executive governor of Lagos State, Alhaji Lateef Jakande.”

In his remarks, the Rector of the College,  Dr. Ibraheem Abdul, expressed optimism about the future of education in Nigeria saying that the ceremony marked a ground-breaking moment in the history of Yaba College of Technology.

He  added that the proposed Folawiyo Entrepreneurship Centre will be more than just an academic building, but a vibrant hub symbolising the college’s commitment to excellence,  progress, and nurturing future generations of successful entrepreneurs who will contribute to the nation’s development.

In his response, the scion of the Folawiyo dynasty, Mr. Tunde Folawiyo commended Fanimokun’s accomplishments and desire to honour his late father, saying that he had contributed immensely to the great height of success the organisation has achieved.

“He is a man that is always focused in achieving his set goals. The family was not informed of this magnitude stride of honouring my father. The Folawiyo family is grateful for the honour,” he stated.