Students and staff of Yaba College of Technology (YABATECH) have received a total of ₦1.8 million in cash prizes after emerging winners in a business idea competition organised by the institution’s Folawiyo Entrepreneurship Centre.
The contest was one of the highlights of the Centre’s second Annual Lecture Series, held at the Yusuf Grillo Auditorium under the theme, “Folawiyo Entrepreneurship Model Series 2: Real Estate Development Business in Nigeria.”
A total of 32 business proposals were submitted for the competition, including 22 entries from students and 10 from members of staff.
Explaining the selection process, Dr. Samson Oloketuyi said entries were assessed based on innovation, creativity, feasibility, sustainability, market potential, scalability, business model and quality of presentation.
In the student category, Komolafe Joseph emerged winner and received ₦250,000. The prize was matched with an additional ₦250,000 donation from the chairman of the event, Chief Tunde Fanimokun.
Olaleye Femi placed second and received ₦200,000, alongside an additional ₦200,000 donation from Fanimokun, while Raymond Egbuson came third and received ₦150,000, which was also matched by the chairman.
The college further announced plans to support the development of the winning business ideas through scholarships.
In the staff category, Mr. Babatunde Adesoji Atiba, Mr. Abdulwakeel Oluwatobi Atóyèbí and Dr. Adebola Karamah Shogbuyi emerged among the top winners, receiving cash prizes. Mrs. Aishatu Atóyèbí also received recognition in the competition.
Speaking at the event, the Rector of YABATECH, Dr. Ibraheem Abdul, said the initiative reflects the institution’s commitment to producing graduates who can create value, solve problems and generate employment opportunities.
According to him, the college is strengthening the link between education, industry and enterprise by exposing students and staff to practical entrepreneurship.
Abdul noted that the Folawiyo Entrepreneurship Centre, established through the support of Chief Tunde Fanimokun in honour of the late business icon, Chief Iyanda Folawiyo, has become a platform for developing entrepreneurial skills within the college community.
“The goal is not just to produce job seekers but job creators and innovators who can contribute meaningfully to society,” he said.
The rector also described the focus on sustainable real estate development as timely, noting that modern real estate goes beyond buildings to include clean water, energy efficiency, environmental sustainability and the development of resilient communities.
Earlier, the Director of the Folawiyo Entrepreneurship Centre, Dr. Funmilayo Adeoye, encouraged entrepreneurs, investors and industry stakeholders to support promising business ideas emerging from the institution.
“Entrepreneurship is not only about making a profit. We are not profit seekers as entrepreneurs; we are problem solvers,” she said.
Fanimokun, who chaired the event, said his decision to establish the Centre was inspired by lessons he learned while working with the late Chief Folawiyo.
He urged students to take advantage of the opportunities available through the Centre by acquiring knowledge, starting small and developing clear strategies for growth.
Delivering the keynote lecture, Prof. Timothy Nubi, a Professor of Estate Management and Valuation and an alumnus of YABATECH, challenged young Nigerians to see opportunities in the country’s challenges.
Speaking on “Sustainable Estate Development in Nigeria: Building Resilient Communities through Clean Water, Clean Energy and Innovation,” Nubi highlighted opportunities across the real estate value chain, including construction, plumbing, electrical works, interior decoration, facility management and the production of building materials.
He encouraged students to develop practical and technical skills, noting that sectors such as construction, electrical installation and plumbing would continue to provide opportunities even as artificial intelligence reshapes the labour market.
Nubi also called for deliberate urban regeneration and challenged students to think about the legacy they want to leave behind after graduation.
“What company, project, innovation or solution will you be remembered for?” he asked.
The event underscored YABATECH’s growing emphasis on entrepreneurship, innovation and practical skills development as pathways to job creation and economic growth.
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