29/05/2015
HOW TO BE PART OF CHANGE
Good day to you. Naturally businesses would say "let's see the policy direction of the incoming administration before we make commitments ". However a smart entrepreneur knows that we do not have the luxury of time to wait for policy direction to understand what areas that need urgent attention across Nigeria. The trick is to look at problems that have national scale or implications hence investing in such areas would most likely never be a mistake.
You can be almost 100% sure that no government policy would seek to frustrate the manufacturing or Agriculture or power sectors. You don't have to wait completely for policy direction of the new government to begin to make arrangements or investment into Agriculture or manufacturing. These are critical areas that the incoming administration would seek to use to jump start immediate change.
I am aware of over N200billion set aside for MSME by CBN, to be disbursed through the banks. One of the major reasons for the delay in disbursements is the insistence of the banks on provision of collateral for the funds by each applicant. I'm equally aware that the new administration is Intrested in developing a new funding policy for small businesses that would help address the issue of collateral.
As an entrepreneur, you are expected to begin to position yourself not only by preparing a business plan but also read up the profitability and direct impact of the sector you wish to invest in on the economy of Nigeria. Be aware that the new government would need people that can help create jobs. Your area of interest must be able to generate 30 new jobs with 18 months to be considered highly profitable for the incoming governments agenda. Does that mean other low job creating ventures are not viable? No but we all need to begin to understand that scale plays a major role in what any government would attend to . Businesses that can immediately employ 30 people are medium size businesses and Nigeria currently needs about 10,000 of them before the end of 2015 if our unemployment problem is expected to feel a dent.
Agriculture and manufacturing are 2 key sectors that require a large workforce to execute and coincidentally these sectors are priority sectors for the Buhari / Osinbajo administration.
Dear friends, in the weeks ahead, I will be discussing viable business opportunities across manufacturing and Agricultural sectors with the , hoping we can all help build the needed momentum for job creation across Nigeria.