A Professor of Entrepreneurship and Strategic Studies, University of Lagos (UNILAG), Sunday Adebisi, has appealed to government at all levels to make significant investment in entrepreneurship, saying it is fundamental to the growth of any nation’s economy.

Adebisi, who spoke at the first special annual lecture of Dr Mike Adenuga (DMA) Professorial Chair in Entrepreneurial Studies, said for the country’s economy to be healed and mass emigration of youths tamed, the government must invest in innovation, entrepreneurship and youth development.

The don, who is the first occupier of the chair, delivered the lecture titled: “Revolutionising the Nigerian economy to create jobs and sustainable wealth: The sole ladder, the sole option, the sole platform.”

He stated that the country, as a matter of policy, should embrace entrepreneurship, while states should identify innovations possible in the areas of their strength and motivate citizens to pursue opportunities in these areas.

Adebisi bemoaned the country’s inability to harness resources, stating that with the enormous opportunities and potentials bequeathed to the nation, no states in the country should have a record of unemployment and poverty.

Calling for the creation of innovation and enterprise hubs in different areas across the country, he said: “All that is needed is a new shift of both federal, local and states governments towards an agenda that will promote this new economic empowerment to create decent jobs and wealth for the country. Most of the enterprise activities are being done in this State with huge losses on the part of the citizens during value creation and value conversion because of the absence of support and knowledge know-how in this value creation and conversion processes.”

While admitting that japa syndrome has continued to thrive due to lack of trust in the government and its policies, the university teacher canvassed the setting up of a N200 billion youth enterprise fund to support business ideas.

He noted that in 2022, Nigerian youths paid £3.25 billion about $5.1 billion, to emigrate to the United Kingdom.
In her remarks, the Vice Chancellor, Prof. Folasade Ogunsola, thanked the donor for partnering with the varsity in enhancing the frontiers of entrepreneurial academic knowledge and skills acquisition through the endowment.

She said the lecture, initiated to expand public awareness in the field of entrepreneurial and skills development, is expected to promote job creation and address issues of youth unemployment.

The Chairman, Board of Trustees of DMA, Prof. Taiwo Osipitan, emphasised the need for Nigerian graduates to embrace entrepreneurial spirit, noting that there is a limit to the number the government can employ.

“We now have so many graduates who are employable, but not employed, and so many are now an accomplice in devil’s workshop,” he added.