Business stakeholders have advocated the need to see opportunities even in challenges, urging Nigerians to see current socio-economic challenges as opportunities to build legacies that outlive them while creating businesses that provide solutions.
Speaking at the recent London Business School (LBS) worldwide alumni celebration 2024, Nigeria chapter, themed: ‘Building a Legacy in Nigeria: Turning Challenges into Opportunities’ held in Lagos, they noted that with the right vision, strategic leadership and effective collaborations every challenge can be an opportunity for people to build businesses that outlast them.
Lagos State governor, Babajide Sanwo-Olu, urged Nigerians to see the economic uncertainties and infrastructural deficits as a catalyst for innovation, growth and transformation as they tap the opportunities to provide solutions to the problems.
The governor, who was represented by the Commissioner for Commerce, Cooperatives, Trade and Investments, Folashade Ambrose-Mebedem, said Lagos is a clear example of how turning challenges into opportunities can drive development. He noted that the government alone cannot drive sustainable growth without help from the private sector.
He said the expertise of the LBS alumni is valuable in driving sustainable growth, urging them to use the platform to mentor young professionals, invest in local talents and champion innovations that address the country’s most pressing challenges.
At a panel discussion held during the event, the Board Chair of Guinness Nigeria, Omobola Johnson, reiterated that only entrepreneurship can drive sustainable growth. She urged Nigerians to see problems as opportunities to provide solutions to societal challenges.
Speaking on the country’s macroeconomic shifts, Managing Director, Financial Derivatives Company Ltd, Bismarck Rewane, said if the government can address insecurity and sustain economic reforms, it will yield fruits in three years.
Regretting numerous policy flip flops, Chairperson, eTranzact International and group MD, Meristem Securities Limited, Wole Abegunde, said steady policies present opportunities for investors to address challenges, noting that policies in Nigeria are very inconsistent. He said policies need to be more predictable and enduring, pointing out that most policies in Nigeria are simply rent-seeking and not helpful to business stability and longevity.
LBS President, Nigeria chapter, Akintayo Sanwo-Olu, called on all alumni to build legacies that promote their brand, the LBS brand and Nigeria’s. He noted that they would continue to shape future leaders, foster innovation through financial inclusion, drive entrepreneurship and support MSMEs in building the next unicorns.
