Youth organisation declares entrepreneurship as catalyst for economic development
This is why a youth organisation that sells impact and entrepreneurship, Junior Chamber International (JCI), Lagos Coral (LC), organised an ‘Entrepreneurship Master Class 2.0’, last weekend, with the thematic preoccupation as a Catalyst for Economic Development to teach and train Nigerian youth the skills of entrepreneurship.
In his opening remark, the chairman organising committee, Prince William-Joel, JCI (LC) said, entrepreneurship is the foundation of national development and at such, rules the world, as all developed countries in the world succeeded base on a one-man platform idea that provided global solution to problems and needs of the society.
“The American Government market policies are enacted for entrepreneurship and so, encourages easy export, but reverse is the case in Nigeria as people struggle to get their goods exported.
“Until entrepreneurship is seen as a national platform, the Nigeria economy might remain stagnant” he said.
Youths, upcoming entrepreneurs, business experts, researchers and managers from all walks of life graced the seminar, which took place at Civic Centre Victoria Island Lagos, to learn and unlearn the opportunities, threats, strengths and weaknesses of ‘banking’ on entrepreneurship.
Speaking at the event, Folajimi Adeloye, JCI (LC) President said, the local organisation was basically established to serve the society by producing quality and successful entrepreneurs.
“This platform was initiated to discuss possible ways of becoming a successful entrepreneur and many more issues which may occur during the business” he said.
The keynote speaker, Ubong King, President of The Kings Men’s World said, it is important for youths to get mentally industrious to become successful entrepreneurs who make visible difference in the capital market.
“Research has proven that only 50million Nigerians have jobs in a population of over 180millions, hence, the dependency ration is 3:1.
“While 70% of the overall population of Nigeria is made up of youths between age 18 to 45-year-old, and 40% of this population are unemployable for lack of skills, hence, the need for youth to begin to think outside the box creatively by proffering solutions to available problems.
“Youths should indulge in competitive data intelligence as the new oil is data” he said.
Dr. Nnaemeka Obiaraeri, a certified Financial Engineer stated the important factors of entrepreneurship as passion, capacity, integrity and honesty.
“There are opportunities everywhere for anyone who wants to really get into business because, every problem around you is a well of wealth when you provide the solution.
“Look around you and figure out the solution to challenges within your environment, then start small and grow big.
“Nobody has ever become a billionaire by inheriting billions, every billionaire had a humble beginning” he said.
Adding that, Nigeria would turn out better under a structured economy if its Government and citizens invest in a workable and sustainable policy for entrepreneurship.
Information revealed that, 95% of foreign exchange income in Nigeria is from crude oil and this sector is over used, hence the need to encourage entrepreneurship.
Odiri Ogini, a financial analyst said, entrepreneurship is a practical concept which when successfully delivered improves the entire economy of a nation.
“In terms of entrepreneurship, Africa ranks last in the world because we have not taken entrepreneurship as a force in the continent.
“Entrepreneurs are nation builders who create businesses for job opportunities and expands GDP.
“If there are strong businesses in Nigeria, we will stop depending so much on oil because entrepreneurs would pay taxes, which in turn would be used for the development of the nation” he said.
Odiri added that, one of the key reasons entrepreneurship failed in Africa is capital, and listed the thriving factors of entrepreneurship as: sustainable policy, finance, market, human capital and reasonable culture that allow development.
“Entrepreneurs improve our living standard to a large extent and this is why they should be cultivated and motivated” he said.
Mr. Odah Williams, a business development Consultant, defined entrepreneurship as an approach for creating values and getting result.
“Singapore developed rapidly because the president and citizens have entrepreneurship mindset as visionaries with no time to waste.
“A leader with the entrepreneurship mindset causes change in the society, but our leaders don’t seem to have a sense of urgency for nation building.
“There is a disincentive in Nigeria for entrepreneurs, and the solution is for it Government to create enabling environment for entrepreneurship” he said.
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