Forum seeks trade policy review for Nigeria, others

Worried by the low profile of intra-African investments occasioned by rigid policy frameworks by governments in the continent, stakeholders have advocated a review of trade policies in order to improve the continent’s common wealth.

According to the stakeholders, improving the common wealth of the continent would require African leaders making the business environment more conducive for entrepreneurs to thrive.

Besides, the Founder, TEF, Tony Elumelu restated his commitment to developing African small enterprises by sustaining the foundation’s 10-year holistic, $100 million commitment designed to identify, grow and create 10.000 African entrepreneurs.

Speaking during the boot camp organised by Tony Elumelu Foundation, under Tony Elumelu Entrepreneurship Programme (TEEP‎) at the weekend, Nigeria’s Vice-President, Yemi Osinbajo urged entrepreneurs to respect relationships in businesses, adding that trust and integrity are sacrosanct to achieving business growth.

Osinbajo added that key values of self discipline, hard work and respect for rule of law as well as prompt payment of taxes are critical for entrepreneurs to become successful in their businesses.

Advocating a review in policy frameworks, Kaduna State Governor, Mallam Nasir El-Rufai noted that though government’s protectionist policies are needed to drive the growth of local industries, there is a need for African leaders to review policies to drive intra-African trade.

“Africa needs a flexible policy regime that will allow us operate as one unit. We need to remove trade barriers ‎to allow African countries trade freely thereby promoting regional integration all across Africa,” he said.

He urged entrepreneurs to make their ideas work by converting their ideas to job opportunities, maintaining that entrepreneurs must transform challenges to opportunities.

“Africa is the most profitable place anywhere in the world to do business. We have the youthful population, the opportunities and also a friendly environment that encourages businesses. Entrepreneurs must take advantage of these opportunities to make a difference,” he added.

The Founder, TEF, Tony Elumelu, explained that the boot camp organised by the foundation was designed to provide entrepreneurs with the knowledge and skills needed to begin and take their businesses ‎from idea to reality.

“A programme built by Africans, for Africans. As the first class of 1,000, your experience with us these last several months and in the months and years to follow will help shape the future of this groundbreaking programme,” he said.

According to him, the 1000 entrepreneurs under the TEF programme were selected from more than 20,000 applicants from 52 African countries, stating that his team, Accenture and ‎a world-class selection committee of experts carefully chose the entrepreneurs.