He said they should rather access various programmes set up by the Federal Government and the Central Bank to support young entrepreneurs and other Nigerians.
Osinbajo made the call yesterday while delivering the first convocation lecture of Kola Daisi University, Ibadan, Oyo State.
He gave copious examples of young Nigerians who have succeeded without cutting corners and implored the graduands to embrace integrity and character.
“Don’t be distracted by ‘Yahoo Yahoo boys’ with fancy cars. Their days are always numbered. They will go to jail one day. What is the point of making money when you can’t sleep well at night?
“The point is that of all the examples I have given, not one had wealthy parents. All of them did most, if not all, their education, here, in Nigeria.
“So, it is important for us to bear in mind that a Nigerian education is an important credential because you understand the terrain and you understand the law of the land. But you must find out about the support available either from the private or public sector. For example, the Federal Government has established a N75 billion National Youth Investment Fund. This provides financial support for small businesses in any field.
“The Central Bank of Nigeria has also established the creative sector funds, mainly for young people in technology and entertainment. There is also the new programme called Investing in Digital and Creative Enterprises, with over $600 million to support young technology and creative entrepreneurs and other entrepreneurs through the provision of finance, skill development and infrastructure.”
The Vice President added: “Earlier, this year, the Federal Government partnered with the United nations Development Programme (UNDP) and the private sector to start a programme called the Jubilee Fellow Internship Programme for the next five years.
“Every year, 20,000 students, after youth service, will be given internship opportunities in private sector companies and public agencies. The idea would be for the participants to gain relevant ideas and life skills that will enable them transition seamlessly into a professional business or public sector career while also earning a good pay during the internship.”
Fifty-two graduands from various programmes such as Computer Science, Industrial Chemistry, Micro-biology, Accounting, Business Administration, Economics, English and Literary Studies, History and Diplomatic Studies, Mass Communication and Political Science, were awarded first degrees.