Foundation pledges N20m to boost entrepreneurial studies in Lagos school

The Chief Samuel Olatunji Adebakin Foundation has pledged N20 million to St. Joseph’s Secondary School in the Agege area of Lagos State.

The foundation made the pledge at the 2025 Founders’ Day Anniversary of the school held at the Lagos Country Club on Sunday, July 13, 2025.

The urgent need for Nigeria to produce more business-oriented graduates rather than mere certificate holders was emphasised at the event, as stakeholders called for an education system that aligns with global economic realities.

The event, organised by the school’s Global Alumni Association featured the announcement of a N20 million pledge by the Chief Samuel Olatunji Adebakin Foundation, represented by Oluwajimi Adebakin, a 1980 alumnus and Chairman of the occasion, to promote entrepreneurial education in the school.

Speaking, Adebakin stressed the importance of equipping students with practical skills rather than just theoretical knowledge.

“The world is evolving, and Nigeria needs graduates who can create jobs, not just seek employment,” he said.

Adebakin, who described himself as ‘the luckiest man on earth’, shared his inspiring journey from being a struggling student to a successful entrepreneur.

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He stated: “I came to this school as a failure, with my mother begging for my admission. Today, I run a thriving logistics business as a qualified accountant.

“This pledge, made in honour of my late father, Chief Samuel Olatunji Adebakin, will support our school in fulfilling the vision of its founders, who originally named it St. Joseph’s Commercial School to foster innovation and self-reliance.”

The President of the Alumni Association, Toyin Ukana-Bisiriyu, expressed appreciation for the pledge, stating that it would significantly upgrade the school’s vocational and business studies curriculum.

“This generous contribution will provide empowerment for our students, who have entrepreneurial skills and need support to make it happen,” she said.

The event also featured an anniversary lecture delivered by Prof. Pius Adejoh of the University of Lagos’ Sociology Department.

Titled “The importance of loyal connections and networking in prosperous human endeavours”, the lecture highlighted the role of strategic relationships in personal and professional success.

“No one truly prospers alone. Behind every success story is a network – what we call social capital. Your network is your net worth,” Adejoh stated.

Awards were also presented to outstanding alumni of the school, including a former Lagos State Deputy Governor, Adejoke Orelope-Adefulire, who is a 1978 alumnus of the school.

The Star