Enhancing Job Creation and Economic Growth in Nigeria: Evidence from the Central Bank of Nigeria (Cbn) Vocational and Entrepreneurship Development Center, Agbor (Vedc-Agbor)

Philip Onyekachukwu Egbule, University of Delta Agbor Delta State Nigeria Department of Arts and Social Sciences Education

The Central Bank of Nigeria (CBN) initiated the Vocational and Entrepreneurship Development Center (VEDC) in Agbor in 2018, aligning with its microfinance strategy to bolster economic growth. VEDC aims to cultivate a new generation of entrepreneurs, combat unemployment, and enhance political stability and economic growth. Providing training and resources encourages youth engagement in MSMEs, fostering a higher value addition to the economy. VEDC has successfully created employment opportunities, promoted entrepreneurship, and equipped participants with essential skills and access to startup capital. This study comprehensively examines VEDC's impact since its inception through content analysis and quantitative data. Additionally, the study will flag the challenges facing the center and propose workable solutions. Results reveal its transformative role in fostering entrepreneurship and empowering Nigerian citizens economically. Conclusively, sustained policy support and a commitment to fostering an entrepreneurial culture are crucial for consolidating VEDC's achievements and ensuring a prosperous future for Nigeria.