The former Press Secretary to the late Bola Ige and Aare Alaasa Olubadan of Ibadan land,Oloye Lekan Alabi has said the administration of President Mohammadu Buhari is capable of promoting entrepreneurship in Nigeria.
He added that lack of rule of law and merit had been major setback to both political and economic development in the country.
Alabi, who was the chairman of this year’s annual lecture whose theme was “Entrepreneurship: A Veritable Panacea to Youth Development” organised by a student forum from the University of Ibadan, said the time when rule of law and merit could thrive again as it was in the time of our founding fathers is here.
Chief Alabi noted that the late politician, Adegoke Adelabu (aka Penkelemesi) was able to become a first African Manager of United African Company (UAC) at the age of 20 years and first minister at the age of 39 years because merit was used as a yardstick. He urged the present government to provide the citizens with adequate security and social amenities as a condition to promote entrepreneurship.
In his lecture, the guest lecturer and former chairman of Advertising Practitioners’ Council of Nigeria (APCON), Chief Olu Falomo said entrepreneurship is the only way to sustain our economic development.
He defined entrepreneurship as a process of starting a business with a capacity and willingness to manage it to make profit, saying the problem with Nigeria is that most businesses are owned by government, thereby inhibiting creativity and economic development.
Chief Falomo, however, urged all up-and-coming entrepreneurs to anticipate challenges and be ready to make a breakthrough, saying that youths have the determination to succeed as entrepreneurs such as Aliko Dangote, Oba Otedeko and others.