Entrepreneurs from about 64 countries worldwide are set to explore Ondo State’s business opportunities through participation in the Global Entrepreneurship Festival (GEF).

The yearly event, which has attracted both local and international sponsorships, including First Bank of Nigeria Limited, will bring together innovators and entrepreneurs from various sectors at the Entrepreneurship Village in Akure, Ondo State, to chart a path for the growth of the state.

Themed ‘Beyond Boundaries: Poverty Eradication through Entrepreneurship’, the GEF is scheduled to take place from November 22 to 24.

First Bank said its support for the event demonstrates the bank’s commitment to initiatives that drive economic growth and financial inclusion.

The Chairman of the GEF Board, Wale Akinboboye, emphasised the significance of the upcoming event in catalysing economic and social transformation and increasing the state’s gross domestic product (GDP) by as much as 50 per cent.

Speaking about the festival’s impact, Akinboboye underscored the strategic importance of Ondo as an incubator of entrepreneurial innovation and growth.

He highlighted the state’s unique position as a transit hub and an ideal location to create an incubator where young entrepreneurs can thrive, given its landmass and population.

Akinboboye painted a vivid picture of the festival’s potential, stating: “Entrepreneurs might come with the idea of spending a million dollars but could end up investing 20 million dollars because the ideas they encounter are that compelling. We believe there is no limit to what can be achieved here”.

The Governor of Ondo State, Lucky Aiyedatiwa, who was represented by the Commissioner for Information and Orientation, Wale Akinlosotu, said the theme resonates deeply with the state’s mission and commitment to fostering innovation and driving economic growth.

He emphasised that entrepreneurship is a powerful tool in addressing economic challenges and poverty globally, highlighting the state’s commitment to entrepreneurship as evidenced by the establishment of Nigeria’s first entrepreneurship agency.

The governor described the festival as a pivotal moment aimed at inspiring individuals and communities to harness their entrepreneurial spirit to create sustainable solutions for poverty alleviation.