Tag: entrepreneurship

  • Five reasons to support Made in Nigeria

    Five reasons to support Made in Nigeria

    The discussion for promoting the hashtag, #MadeInNigeria started on Thursday. As a follow up to the #BuyNaijaToGrowTheNaira, we decided to sample the opinion of our readers. As you read down, you are going to repeatedly come across the five reasons why every Nigerian should #BuyNaijaToGrowTheNaira.

    It started thus:

    Then the discussion went further as we do a curation of the discussion which saw Nigerians actively tweeting to support our locally made products.

  • SMEDAN to youths: imbibe entrepreneurship

    SMEDAN to youths: imbibe entrepreneurship

    The Director-General, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Alhaji Bature Masari, has urged youths to imbibe the culture of entrepreneurship to check the high level of unemployment.

    Masari spoke when officials of a youth organisation visited him in Abuja.

    He noted that unemployment could best be tackled when youths key into various enterprises development and skills acquisition training organised by SMEDAN.

    “Your best option as young men and women is to imbibe the entrepreneurship skills and development of business ideas through a variety of programmes offered by SMEDAN. This will help you employ yourself and provide jobs for others instead of waiting for government employment,’’ Masari said.

    He said youths were very creative and full of business ideas, which required proper guidance and marshalling to develop into enterprise opportunities.

    Masari assured that SMEDAN would support, guide and hand-hold the youth to be self reliant through entrepreneurship engagements as long as they were willing to help themselves.

  • Lagos seeks councils’, businesses’ collaboration on entrepreneurship, job creation

    Lagos seeks councils’, businesses’ collaboration on entrepreneurship, job creation

    Lagos State Commissioner for Wealth Creation and Employment, Babatunde Durosinmi-Etti, has underscored the need for businesses and local governments to collaborate to tackle unemployment across the state, advocating the need for job creation as against job-seeking.

    He spoke at a stakeholders’ forum/interactive session at K. Kotun Memorial School, Surulere, Lagos at the weekend.

    Durosintimi-Etti also said the creation of the ministry was as a result of the government’s desire to address unemployment and cushion efforts of wealth creation and employment interventions through vocational centers employment opportunities.

    He said: “The Ministry of Wealth Creation and Employment is more of an enabler, a link between government and the private sector in the area of unemployment reduction and ensuring that quality skills are given to the right set of people.

    “It is only through private sector collaboration that more jobs could be created in order to bridge the unemployment gaps.”

    He maintained that Governor Akinwunmi Ambode has not only fulfilled his electoral promise with the establishment of the new ministry, but has also made a commitment of N25 billion into the Employment Trust Fund for employment and job creation. Working with employers, he said the ministry would create tailor-made vocational programmes to create jobs for artisans.

    In addition, to establishing five jobs and business incubation centres in Lagos, he said the centres will empower people and help them find good jobs.

    According to him, the job and innovation centres will provide resources for start-ups.When implemented, he said, the incubators would provide an environment conducive for the success of innovative entrepreneurial start-ups spearheaded by young people.

    He said the centres would help fill a void created by the education system, provide a platform to develop the cross-functional skill sets essential to the success of entrepreneurs.

    He reiterated that the government is ready to improve the environment, provide fertile ground for more sophisticated innovation, and encourage a lot more business incubators to pop up in the future.

    He said the government, working with the local government,  could set the stage for the next revolutionary businesses to emerge from the state.

    The Commissioner envisioned a new Lagos as state with a high-functioning economy focused on industry, innovation and entrepreneurship; the promotion of investor confidence; job creation; the development of infrastructure; and achieving total digital connectivity.

    The Permanent Secretary in the Ministry, Mr. Fola Pandonu, said the sensitisation programme, which began in Surulere, was part of the ministry’s efforts to  equip young Nigerians with information on opportunities available to  create wealth and employment.

    The Special Adviser to Governor Ambode on Centrall Business District( CBD), Agboola Dabiri, said  the campaign would  give a new dimension to employment where more and more jobs will be generated, while it  will lead towards new businesses or innovative projects that  prove helpful in improving the economic growth of the country and career growth of the youths.

    He said the campaign would  boost entrepreneurship and job creation in Surulere, by boosting investments into the startup segment.

    Besides, the government is taking steps to deal with the skilled labour crisis in the area.

  • Lagos seeks councils’, businesses’ collaboration on entrepreneurship, job creation

    Lagos seeks councils’, businesses’ collaboration on entrepreneurship, job creation

    Lagos State Commissioner for Wealth Creation and Employment, Babatunde Durosinmi-Etti, has underscored the need for businesses and local governments to collaborate to tackle unemployment across the state, advocating the need for job creation as against job-seeking.

    He spoke at a stakeholders’ forum/interactive session at K. Kotun Memorial School, Surulere, Lagos at the weekend.

    Durosintimi-Etti also said the creation of the ministry was as a result of the government’s desire to address unemployment and cushion efforts of wealth creation and employment interventions through vocational centers employment opportunities.

    He said: “The Ministry of Wealth Creation and Employment is more of an enabler, a link between government and the private sector in the area of unemployment reduction and ensuring that quality skills are given to the right set of people.

    “It is only through private sector collaboration that more jobs could be created in order to bridge the unemployment gaps.”

    He maintained that Governor Akinwunmi Ambode has not only fulfilled his electoral promise with the establishment of the new ministry, but has also made a commitment of N25 billion into the Employment Trust Fund for employment and job creation. Working with employers, he said the ministry would create tailor-made vocational programmes to create jobs for artisans.

    In addition, to establishing five jobs and business incubation centres in Lagos, he said the centres will empower people and help them find good jobs.

    According to him, the job and innovation centres will provide resources for start-ups.When implemented, he said, the incubators would provide an environment conducive for the success of innovative entrepreneurial start-ups spearheaded by young people.

    He said the centres would help fill a void created by the education system, provide a platform to develop the cross-functional skill sets essential to the success of entrepreneurs.

    He reiterated that the government is ready to improve the environment, provide fertile ground for more sophisticated innovation, and encourage a lot more business incubators to pop up in the future.

    He said the government, working with the local government,  could set the stage for the next revolutionary businesses to emerge from the state.

    The Commissioner envisioned a new Lagos as state with a high-functioning economy focused on industry, innovation and entrepreneurship; the promotion of investor confidence; job creation; the development of infrastructure; and achieving total digital connectivity.

    The Permanent Secretary in the Ministry, Mr. Fola Pandonu, said the sensitisation programme, which began in Surulere, was part of the ministry’s efforts to  equip young Nigerians with information on opportunities available to  create wealth and employment.

    The Special Adviser to Governor Ambode on Centrall Business District( CBD), Agboola Dabiri, said  the campaign would  give a new dimension to employment where more and more jobs will be generated, while it  will lead towards new businesses or innovative projects that  prove helpful in improving the economic growth of the country and career growth of the youths.

    He said the campaign would  boost entrepreneurship and job creation in Surulere, by boosting investments into the startup segment.

    Besides, the government is taking steps to deal with the skilled labour crisis in the area.

  • ‘Why govt must support entrepreneurship’

    ‘Why govt must support entrepreneurship’

    How can the government tackle youth unemployment? That was the focus of a lecture held at McPherson University (McU) in Seriki-Sotayo, Ogun State to mark freshers’ matriculation. WALE AJETUNMOBI reports.

    •McPherson Varsity admits freshers

    The fourth matriculation of McPherson University in Seriki-Sotayo, Ogun State took place last Tuesday, but it was not all about academics. It also focused on the nation’s most challenging problem – youth unemployment.

    Chief Executive Officer, Nigeria Police Mortgage Bank Plc, Pastor Adebola Adeboye, the guest lecturer, spoke on how the government could tackle joblessness through entrepreneurship and skill acquisition.

    Adeboye, who delivered the institution’s second pre-matriculation lecture with the theme: Entrepreneurship: Panacea to economic development in Nigeria, said introduction of entrepreneurship in school curriculum would not solve job crisis, noting that students were only being taught theory of business that could lead them to nowhere.

    The lecturer identified over-dependence on crude oil as the root cause of unemployment, noting that Nigeria became a monolithic economy that could not survive without the “consumable product”. The period of oil boom, he said, made the graduates to be lazy in thinking about business that could make them self-reliant.

    While graduates rushed for limited white-collar jobs, Adeboye said their counterparts in other parts of the world were busy using their innovativeness to create world-class business ventures from which millions of people are benefitting.

    He said: “Entrepreneurship contributes greatly to the economic development of the developed countries. It is the bedrock of America’s economy and that of the Asian Tigers. The developed economies attained their status because they encouraged youth innovation that led to the creation of small and medium scale enterprises. These are the backbone of economic growth in those countries.”

    Beyond introducing an entrepreneurship course in higher institutions, Adeboye said the government must encourage graduates with loans to enable them practise theory of business they were taught in school.

    •Adeboye flanked by Prof Agunbiade (right) and Mrs Abegunde
    •Adeboye flanked by Prof Agunbiade (right) and Mrs Abegunde

    Adeboye whose business is worth billions of naira explained how he developed his entrepreneurial skill as an undergraduate. He said his will to be self-reliant made him to seek a N40,000 loan with which he nurtured his business, which, he said, has grown beyond Africa.

    While saying entrepreneurship remained part of solution to the challenges facing the country, Adeboye described an entrepreneur as a person who identifies a new way of doing things to make profit.

    Advising the matriculating students, the lecturer said: “To be an entrepreneur, you must be idealistic, because ideas rule the world. You must be solution-oriented and always look around for what people need and make efforts to meet their demands.”

    The Vice-Chancellor (VC), Prof Adeniyi Agunbiade, urged the freshers to take their studies seriously. He warned that the school would not tolerate any act of indiscipline, urging the students to abide by the rules and regulations of the faith-based university.

    Agunbiade said: “As this occasion marks a turning point in your lives, it is my hope that you would justify this golden opportunity of your admission to study hard and achieve academic excellence. You should bear in mind that the path to excellence at McPherson University is through God-guided quality decision, diligence in pursuit, determination to succeed, devotion to God and genuine desire for honesty.”

    He said drug peddling and gambling, indecent dressing, immoral behaviours, cultism and all forms of examination malpractice, and other social vices would not be tolerated.

    He made this known recently during the 2015/16 Matriculation held inside the university’s Ultra-Modern Hall. It was the fourth matriculation ceremony of the university.

    Over 100 freshers took the oath of matriculation, which was administered on them by the Registrar, Mrs Adebola Abegunde. The freshers were admitted into the three colleges of the school. They are College of Social and Management Sciences (COSMAS), College of Natural and Applied Sciences (COLNAS) and College of Humanities (COLHUM).

    The highpoint of the ceremony was the prayer session conducted by the Visitor to the university and General Overseer of Foursquare Gospel Church, Reverend Felix Meduoye.

  • Liberty and Entrepreneurship Camp at LASPOTECH

    Application is open for the 2016 Liberty and Entrepreneurship Camp, which will hold between January 20 and 24 at the Lagos State Polytechnic (LASPOTECH). The event is organised by African Liberty Organisation for Development (ALOD), Nigeria and Language of Liberty Institute (LLI), United States.

    Students from all tertiary institutions in Africa are eligible to participate in the five-day seminar. Applicants are expected to contact Adedayo Thomas at: adedayo.thomas@gmail.com. Application closes on January 15.

    According to the organisers, the seminar is aimed at training and inspiring young people to become successful entrepreneurs and promote the principles of freedom.

  • Elumelu entrepreneurship portal application opens

    Budding entrepreneurs across Africa can now apply to join the second yearly Tony Elumelu Entrepreneurship Programme (TEEP) for start-up businesses based in Africa.

    The Tony Elumelu Entrepreneurship Programme application portal opens for entries today, January 1, 2016 and will accept applications until Midnight WAT in March last year.  To apply, entrepreneurs must complete the online application form on the web portal here

    Successful applicants who complete the programme will receive the local currency equivalent of Naira 850,000 as non-returnable seed capital, and are eligible for a further N850,000 in the form of either debt or equity, depending on business need and other criteria.

    Selected entrepreneurs will join the 1,000 Tony Elumelu Entrepreneurs, from 51 countries, who formed the inaugural 2015 cycle of the programme and have thus far, received considerable benefits from their participation.

    Tony O. Elumelu’s passion for promoting entrepreneurship on the continent as well as providing support for the creative Arts industry received global commendation last week when he was honoured in New York and South Africa.

    In New York, he was named as the “Africa Business Leader of the Year” at the eighth annual Ai CEO Investment Summit and awards that took place at Thomson Reuters on the eve of the UN General Assembly.

    On the other side of the globe in South Africa, he was given a special award as the Honorary counsel for the African movie academy in recognition of his support for the African creative industry, at the African Movie Academy Awards (AMAA) held at Mandela Bay, Port Elizabeth, South Africa on Saturday, September 26, last year.

    This is the second time Elumelu is winning the “Africa Business Leader of the Year” award, which he first won in 2006 as the Group Managing Director/CEO of UBA Plc.

    He emerged winner this year from a strong nominee list of notable business leaders in the continent including James Mwangi, CEO Equity Bank, Kenya; Aliko Dangote, Chairman, Dangote Group;  Brian Joffe, CEO, Bidvest Group, South Africa; Strive Masiyiwa, Chairman and Founder Econet; Patrice Motsepe, Founder and Chairman of African Rainbow Minerals, South Africa;  Christo Wiese, South Africa’s retail tycoon and owner of Shoprite; Chris Kirubi, Chairman of Centum Investment Company Limited, Kenya; Reginald Mengi, Executive Chairman and owner IPP Limited, Tanzania and Sudhir Ruparelia, Chairman, Ruparelia Group, Uganda.

  • Entrepreneurship key to Africa’s growth, says Ajumogobia

    Entrepreneurship key to Africa’s growth, says Ajumogobia

    The former Minister of Foreign Affairs, Mr Odein Ajumogobia, has urged African youths to initiate measures that will rescue the continent from its development challenges.

    He said the government should  create an enabling environment for youth innovation, adding that entrepreneurship was the solution to the poverty ravaging Africa.

    Ajumogobia spoke yesterday at an event organised by The Africa Shapers Initiative to mark the 2015 Global Entrepreneurship Week.

    Speaking on Africa -The Next Frontier: Fostering Innovations for Growth and Development, the ex-minister said only ideas could change the fortunes of Africa.

    While noting that Foreign Direct Investment (FDI) to Africa increased in the last decades, Ajumogobia regretted that Africa still conducted its trade same way it did 50 years ago.

    He observed that the net investment in Africa did not increase with FDI, saying the continent still largely depended on the foreign products and aid.

    He said through entrepreneurship and innovation, Africa could measure its growth.

    Ajumogobia said: “Africa’s rising is a convenient and dangerous one, because it is a challenge for youths to tap into the emerging market for growth and prosperity. Africa, one day, would become the economic power of the world. But, we may not get there with improper planning and bad trade policies. Africa must create its market to sell entrepreneurship ideas of its youths.”

    Chief Executive Officer (CEO) of Marine Platform Taofik Adegbite said emerging entrepreneurs in Africa must build strong brands and not personality. He said youths must be non-conformist to successful entrepreneurs.

    Founder of BEN TV in London Alistair Soyode said the African youth must rise up to present challenges to survive poverty.

    Other speakers at the event included the Managing Partner of Red Media Group, Chude Jideonwo and Charles O’Tudor, a brand strategist.

    The Director of Africa Shapers Initiative, Lekan Fatodu, said the platform was to promote development through youth innovation, entrepreneurship and knowledge transfer.

  • ‘Entrepreneurship cure to poverty’

    The immediate past chairman of the Nigerian Economic Summit Group (NESG), Mazi Sam Ohuabunwa, has identified entrepreneurship as the cure to poverty and corruption.

    Ohuabunwa, who is the national president, Nigerian-American Chamber of Commerce (NACC),  spoke during the Achievers Business Summit with  “Redefining your Business for Impact” as its theme.

    He said: “There is a growing need to encourage people to try their hands on business. It is the only way to help stem the scourge of corruption in our society thereby limiting the urge to compromise, which has been the norm by lazy Nigerians. Entrepreneurship will allow people earn an income to take care of their daily needs and live a decent life.”

    The summit offered participants an insight into how to establish successful business concerns and also provided the essence of multiple streams of income, which is seen as a way out of poverty and corruption.

    The convener of the summit, Pastor Akinola Ajayi, said the aim of the gathering was to raise achievers in business to become worthy examples.

    “I remember the first three Business Summits staged between 2001 and 2003 at House Hotel now Havana Hotel. In those three years, we gained huge followership and people encouraged us to continue but I couldn’t because I could not organise the seminar on a yearly basis and also continue as a pastor until I got a call from God to start again,” he said.

    Pastor Ajayi noted that most people are successful in business, but they cannot pass it on to their next generation because such businesses are not built on God’s foundation.

    “This seminar is convened to empower people to do business in God’s way. It is aimed at raising achievers in business who can consistently improve and become worthy ambassadors of their trade,” he added.

  • Entrepreneurship education, poverty and violence

    In April 2014, the Boko Haram terrorist group abducted 234 school girls from the North-east town of Chibok. This tragic episode captured the attention of the international media, with UK Prime Minister David Cameron, United States First Lady Michelle Obama and Nobel-prize winning school girl Malala Yousafzai joining a host of other celebrities in the international campaign to “Bring Back our Girls”. As at the time of writing, the whereabouts of the girls are still unknown.

    The Boko Haram insurgency started well before 2014. The group, originally known as Jama’atu Ahlus-Sunnah Lidda’AwatiWal Jihad (Arabic for ‘People Committed to the Prophet’s Teachings for Propagation and Jihad’) was formed in 2002 by radical cleric, Mohammed Yusuf. Over the years it came to be known by its core teaching that “western education is forbidden”. Yusuf was extra-judicially executed by security forces in July 2009, and the group became more violent. The bombing in August 2011 of the United Nations building in the capital city of Abuja confirmed a new dimension of Boko Haram tactic of targeting international buildings, government property and crowded places in series of suicide bombings. Over the years, these attacks have left scores of thousands dead, and millions of people displaced.  Internal Displacement Monitoring Group (IDMC) estimates that 3.3 million people have been internally displaced due to conflicts in Nigeria. Of this, 800,000 children have been displaced by Boko Haram violence alone.

    The rank of Boko Haram group is filled with the army of uneducated, unemployed and impoverished youth. They have become disillusioned with government, disaffected with the political elite, and are prime targets for Boko Haram recruitment drive. This is the background to the intervention launched in 2011 by the Centre for African Entrepreneurship and Leadership (CAEL), University of Wolverhampton, UK.

    CAEL’s project, a counter narrative to the Boko Haram propaganda, was based around the core idea that entrepreneurship education is the means by which unemployed youths can acquire critical skills to plan and develop their businesses. With these skills, it is hoped that these new ventures could grow and expand to become employers of labour, in the process contributing to national strategy to reduce unemployment and alleviate poverty.

    In 2012, CAEL launched its pilot project in partnership with the Centre for Entrepreneurship and Enterprise Development (CEED), University of Maiduguri under which 190 people were given intensive entrepreneurship training. At the end of the training, a Business Plan competition was launched, and 40 trainees with the best business plans were given grants for new start-ups. Four years after, the owners of these enterprises were interviewed to assess the impact of the training provided.

    The participants were all emphatic in their assessment that the training contributed significantly to their improved knowledge and skills about business planning, record keeping, innovative advertising and improved approach to customer retention and customer service. Mohammed, one of the participants in the training, commented that:

    “The training helped me a lot as I gained a lot of knowledge about business strategy. Before the training at the University of Maiduguri I did not have much knowledge about the business. I know better now how to plan, invest my money, and motivate our customers. After the training I know better how to deal with companies who supply our goods. Before then I did not have much knowledge about how to control and manage the business. My business was growing quite well until the insurgency grew worse… The training helped me to advertise my business differently. So I went to the small hamlets and villages to get people to sell and buy my goods. Sometimes I give them my complimentary cards, encouraging them to call me. I also offer discounts for the retailers, to encourage them”.

    One of the women participants, Christiana, highlighted another crucial aspect of the intervention: the training of trainers who can then go on to others, often in the more remote areas. She thinks more investment is needed in this area, especially for women entrepreneurs who have been compelled into micro-enterprise by the necessity of poverty and violence, and are desperately I need of training:

    “I think we need more women who can train others. It is not enough to just give them money for subsistence. I think women should be given equipment and other support in kind, rather than cash, because if you just give them money, they might be tempted to purchase other things other than what they need for the business”.

    For these participants, entrepreneurship education is as important as military strategy, if not more so, to stem the tide of terrorists’ recruitment and violence. Mohammed observed that”the reason why Boko Haram has gained a lot of followers is because some people are jobless and others are illiterate.” Another participant, Modu, asserted that “entrepreneurship can help eradicate poverty” by focusing attention on skill training for young people “so that they can do something for themselves”. He, however, suggested that for this to work government need to show more commitment, for example by providing young entrepreneurs with tools and start-up funds, in addition to adequate training. He says it is important to make young people understand that “government cannot employ everybody. If people are made to realise that it is not through government that you must eat. You must do something with your hands. You must do something to sustain your life, and even help sustain the lives of other people.”

    The trainees spoke of their struggles and triumphs, and their high ambitions to grow and expand their business, even in the volatile environment of insurgency violence. There is no sense of resignation, or desire to seek quick easy escape from their violent ridden community. They are motivated by the prospect and hope of becoming successful entrepreneurs, not the fear or desire to become refugees. Christina recently won an international award for her fashion design business, and her clothing lines are now being advertised in Malta and Amsterdam. Mohammed speaks of his plans “to expand to other locations where there is good demand for my goods.

    “I want to have new branches in Kano, in Yobe (because Yobe is near Maiduguri). I will have another in maybe Bauchi, which is also near. I hope to employ like 50 people in the next four years.” Modu says.  “For now I have only one branch. I want to have like five branches within my locality. If possible I also want to expand my business to other states within Nigeria. I also want to employ more people. We are currently doing electrical work. We also want to incorporate building and carpentry work. We are hoping that in the future if government for example want to build an estate, we’ll be the one to handle such. By doing this we will be able to employ more workers.”

    This intervention has demonstrated that, given the right support in terms of training and tools, people in conflict-ridden environments are capable of making things happen in spite of destructive violence unleashed by terrorists.

    In a recent interview, Vice Chancellor, University of Maiduguri, Professor Ibrahim Njodi singled out the University of Wolverhampton for special praise for their vision and courage to partner with the university at a time other foreign institutions and organisations were scared away because of the insurgency. In one of the earlier visits, Njodi said, the partners from Wolverhampton “…spent about 23 days with us working on Centre for Entrepreneurship and Enterprise Development which is now… coming up so strongly”. Professor Geoff Layer, Vice Chancellor of the University of Wolverhampton, said: “we are actively engaged in communities and societies around the world. This is why we have our Centre for African Entrepreneurship and Leadership, a new centre that we have set up to focus specifically on developments around needs within Africa, around entrepreneurship, how we bring some of our experiences, some of our learning, and share with organisations.”

    The University of Wolverhampton through the Centre for African Entrepreneurship and Leadership is currently embarking on a new phase of intervention with the partners at the University of Maiduguri. In addition to Maiduguri, there is an ongoing partnership with the Entrepreneurship Centre at Bayero University, Kano, another city affected by the Boko Haram insurgency. The progress has been encouraging, but there is still a lot to be done.

     

    • Dr Kolade is a postdoctoral research fellow with the Centre for African Entrepreneurship and Leadership, University of Wolverhampton