The News Agency of Nigeria (NAN) reports that the college's launch was part of the activities of the Vice President's one-day visit to the state.

Osinbajo said that the establishment of the college took into account the most important attributes of Nigerians toward diversifying the economy through entrepreneurship development.

According to him, such important aspect of providing the right entrepreneurship industrial base as the missing link that has retarded the growth of the nation's entrepreneurship sector.

He said the entrepreneurship sector presently lacked the prequisite skilled certification tailored toward the specific need of the society.

He said that in spite of many vocational and skill training centres across the country, "in my opinion, this is most important project any government can undertake and which must be replicated across the country.

"It took into account the most important features of our lives as Nigerians. We are the most talented young people any where in the world.

"Our young people are talented, they are ready to learn and they are prepared to be entrepreneurs. They are extremely aggressive in trade and commerce.

"It is not enough to just train to acquire skills but to attain the standard acceptable international certificate require to grow.

"So that wherever they go to practice their skills, they will be marketable and work in any part of the world."

Osinbajo commended the state government for collaborating with relevant global organisation in order to acquire the right certification for the college.

He listed one of the challenge facing the sector as inadequate finance, which he said, the Federal Government was tackling with the involvement of relevant stakeholders like the Bank of Industry.

Gov. Abdulfatah Ahmed of Kwara, in his address, said the establishment of the college was in line with the Federal Government policy thrust of promoting economic diversification through entrepreneurship development.

Ahmed said that the government was driven by the need to engage as many youths as possible in the value chain of vocational training and entrepreneurship.

He said that the college was already in partnership with London City and Guild, Alfred State College in the US as well as Praxis Atlantis Ltd., in Lagos, Nigeria.

"Globally, technical and vocational training has been identified as critical to growth, especially industrialisation.

"IVTEC offers youths the necessary market structured relevance skills and reliable pathway to economic empowerment in tackling unemployment," he said.

The governor disclosed that the college was open to cater for young school leavers seeking to acquire technical and vocational skills for setting up their businesses.

The others, he said, were tertiary graduates who want to diversify into other fields by accessing new skill as well as professionals seeking continuous entrepreneurship development. (NAN)