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Entrepreneurs’ Organisation members raise investments in Nigeria to $60m

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Entrepreneurs’ Organisation (EO), a global community of small, medium and large business enterprises, has said its investment in Nigeria has risen to over $60 million and has netted no fewer than 13,000 members globally as at the end of 2018.

Its Manager, Global Membership Development, Catherine Buckingham, who disclosed this to The Guardian in an interview at the weekend, said the organisation hopes to reach 18,000 members by the year 2020.

Entrepreneurs Organisation, a platform of business owners with a net worth of at least $1 million across the globe, has no fewer than 45 members in Lagos and Abuja, and is eying expansion in other cities of Nigeria like Kano, Enugu, Port Harcourt and other major commercial hubs like Onitsha, Anambra State.

Buckingham explained further that EO currently has members in 58 countries of the world, 105 chapters, including those of Lagos and Abuja in Nigeria, saying that it has been very rewarding networking with entrepreneur members in Africa and other parts of the world, as they learn a lot from one another.

She said the group also has a Global Students Entrepreneur Award, which helps to nurture and build enterprises of students whose ideas are marketable, stressing that the global body pegged the age limit of members at 50 years but has now lifted the age restriction to accommodate people of all ages, providing such members have businesses with a net worth of at least $1 million.

Also speaking, its Lagos President, Sunday Gbenjo, noted that EO’s investments in Nigeria has exceeded $ million as some of the 45 members have done up to $3 million and above.

He said its members in Lagos and Abuja, have businesses in the telecoms, information and communications technology (ICT), oil and gas, agriculture, real estate and retailing like Just Rite, among others.

He added that 1n 2012, it had 35 members but the numbers kept falling and rising due to the economic reality of the country, but it has stabilised at 45 and counting.

Gbenjo charged the Nigerian government to provide a friendly environment for businesses to thrive, adding that improvement in power supply and critical infrastructure, could revolutionise the country’s economy.

He said barring all unforeseen circumstances, EO in Nigeria would hit between 150 and 200 members in the next few years, adding that like its international chapters, the Nigerian chapter has employed hundred of Nigerians.


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