The Federal Government has been urged to establish more
Entrepreneurship Development Centers (EDCs) across the country to
improve access at affordable costs for aspiring or existing
entrepreneurs.
A director of the Central Bank of Nigeria (CBN), South South EDC, Mr.
Gbenga Owolabi made the call at an Entrepreneurship Career Fair
organised recently by the Chartered Institute of Personnel Management
(CIPM) in Lagos.
Speaking on the Imperative for Job Creation, Owolabi also urged
governments and regulatory institutions for education to ensure that
appropriate entrepreneurship curriculum is well integrated into the
standard curriculum for schools at all levels with emphasis on the
development of entrepreneurial mindset in addition to business skills.
Noting that only 4.5 million out of 41.5 million working Nigerians
are in paid employment, Owolabi said
the need for youth to develop their
entrepreneurial skill cannot be overemphasised.
In the United States, he observed that small businesses are
responsible for between 65 and 90 percent of all jobs created whilst in
high income countries, SMEs account for 65 percent employment and
contributes 51 percent of Gross Domestic Product (GDP).
“Nigeria has been overwhelmed by so many problems that we no longer
see opportunities in developing entrepreneurship skills. To seek a job
in the country today is much more`challenging than to create jobs. Yet
our youths are searching for white collar jobs,” he lamented.
According to him, in spite of the realisation that access to finance
is critical to Small and Medium Enterprises (SMEs) growth and
development, Nigeria still does not have sufficient volume of the much
needed entrepreneurial presence and activities.
He recalled that the CBN had in 2008 initiated the Entrepreneurship
Development Centres (EDC) in the South West, North West and South East
geopolitical zones located in Lagos, Kano and Onitsha respectively.This,
he said was in partnership with private sector firms appointed as
Implementing Agencies (IA) for the EDCs.
“The CBN extended its partnership to willing State Governments to
collaborate in the establishment of 3 additional EDCs in the other
geopolitical regions of Nigeria in January 2013. This laudable
initiative of the apex bank has begun to yield some positive dividends
across the length and breadth of Nigeria.
“The first set of EDCs in Lagos, Kano and Onitsha have trained over
45,000 individuals, helped to start 8,000 new enterprises and created
12,000 jobs CBN South-South EDC which commenced operation in Calabar
January 2013, has trained over 1,600 individuals out of which over 50
percent have stated their enterprises creating close to 1,000 jobs,” he
added.
Through an integrated entrepreneurship development program and
curriculum, he noted that the CBN EDCs provided life-long learning
experiences aligned with the entire entrepreneurship development process
and enterprise growth stages.
He therefore challenged governments at all levels and private sector
partnership to initiate, promote, encourage and facilitate development
of various platforms and industries that will provide financing options
suitable for different stages of growth of enterprises.
He further charged state and local governments to also conceptualise,
implement, publicise and manage programs to award grants to support the
successful startup of enterprises through competitive business plan
development processes such as the FG’s YouWIN Program.
Source: This Day
24/04/2014
FG urged to establish Entrepreneurship Development Centers-- Gbenga Owolabi
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