That is what I am hearing here in Monaco where over 2000 entrepreneurs from 53 countries are discussing the positive impacts of their innovations.
For those that I have interacted with, they are particularly excited about Nigeria’s entrepreneurial spirit, the intelligence globally exhibited by the swath of young Nigerians that have taken up space and challenging the conventional norms through their disruptive input and innovation. One CEO told me of how he marvels at the overwhelming desire of some young Nigerians to build something always.
Even when the question of the entrepreneurs’ constraints in the country pops up, optimism swallows any suggestion that it is inconceivable. It’s always about the potential- the consensus picture is of a very successful nation that emerged because the young entrepreneurs defied all odds, raced along, left the public sector officials in their wake and made some sweet potatoes from the shabby regulatory or none existing regulatory environment to protect the aspirations of the entrepreneuship in all Nigerians.
But here is the thing: entrepreneurs are doing more than simply making money. That is the conclusion of a survey recently conducted by Ernst & Young on job creation and youth entrepreneurship (2015). The survey finds that the number one reason to set up business- aside from financial necessity- is to leave behind a positive economic legacy, and more than a fifth of entrepreneurs want to achieve social change.
Let me bore you a little bit more about the findings of this survey: it says, “with the consistently high levels of job creation clocked over the past years of this EY survey (and that includes one of the world’s worst economic downturns), those visionary men and women have proven themselves to be one of the greatest sources of sustainable economic growth. Fortunately, we can see that leaving a legacy is part of their DNA, which bodes well for the future.”
This conclusion greatly underscores the shared consensus on the very powerful community of entrepreneurs emerging in the next half to full decade in Nigeria as well as those that are already leaving their marks on wall of fame. The figures are certainly not in the public domain, but we have seen such great Nigerian youths which includes the likes of Austin Avuru of Seplat, Wale Tinubu of Oando and Gossy Ukanwoke of BAU Research and Development, build a legacy already that has left the world that drives them.
These young men, more than living well, have made an impact on the wider economy; they are serving as an inspiration to others and they have acted as proponents of profit with a purpose. (Thank you EY for this verse).
The youth in the country make up the most vibrant segment. Ask them. They will tell you “I want to be on my own”. The desire not only reflects aspirations but a resentment of a society that has for so long cared less for them. Their purpose is not necessarily to be destructive… They are basically throwing down the challenge to themselves to collectively overthrow their robustly entrenched disenfranchisement.
Truly the roads of Nigeria’s entrepreneurs are mostly gridlocked before now. But things have changed and are still changing.
The most profound change is that which is yet to happen, a consensus regulation that will enable an entrepreneur build his aspirations into a sustainable business.
I tell you, some of them I have met in the course of my stay here in Monaco are already thinking a wish list. And they are determined to see it delivered to President Muhammadu Buhari. But more importantly, they do not just wish for the list to be prioritised, they wish for a country where the government will also ride along in the process to create a very entrenched entrepreneurship culture that will outlive any government administration, going forward.
Charles Ike-Okoh
