Business

Why Government must pay more attention to encouragement of enterpreneurship- Economists

An Economist, Mr Samson Akinyosoye, on Monday urged Nigerians and the three tiers of government to pay more attention to creation of innovative skills through encouragement of entrepreneurship.

Akinyosoye, a former Secretary-General, Nigerian Institute of Architects (NIA), Lagos Chapter, gave the advice in an interview in Lagos.

He said entrepreneurship was borne out of passion, stressing that both the government and citizens have no passion for entrepreneurship.

According to him, more than 70 per cent of business ventures in the country collapsed within an interval of five years of inception.

He said that Nigerians were creative and had the potential to bring the emergence of Africa technology to reality through positive innovation and entrepreneurship.

Akinyosoye noted that manufacturers only needed support and encouragement from the governments, individuals and organisations to bring their creative minds to the fore.

He added that some establishments do not value innovation and as such was not thinking in the direction of advancing the production scope and technological know-how of the citizenry.

“In situations where there are no financial support, encouragement, initiatives and mentoring or credit facilities as it is in Nigeria, it will be difficult for entrepreneurship to thrive.

“Our country must be productive. China is what it is today because of their commitment to entrepreneurship.

“Fifty years ago China was like Nigeria, but due to dedication and encouragement to entrepreneurship, it has grown to become one of the leading producing countries in Africa.

“Nigeria can do better, if the government can prioritise entrepreneurship and encourage activities of the manufacturers,” Akinyosoye said.

He called for encouragement and mentoring of the young ones to go into science innovation and production that would develop and enhance Nigerian manufacturing base.

Akinyosoye noted that if the nation’s economy must grow to become one of the leading countries, the issue of entrepreneurship development must be given serious concern.

“All the government needs do is to make the country business conducive for manufacturers and investors to operate,” he said.

The economist urged the Federal Government not to relent in its fight against corruption, and ensure stable electricity, transportation network and relax visa regime, among others.

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