Expert frowns over diminishing indigenous entrepreneurship, calls for government intervention at CONiTA 2024
A development and sustainability expert, Princess Jumoke Owoola, has frowned at what she described as the diminishing indigenous entrepreneurship in the country, resulting from the “hidden agenda” from foreigners operating in the country. To reverse this trend, she called on government intervention.
Owoola, who is the Projects Director at the Center for Indigenous Knowledge, Development and Sustainability (CIKDAS), said this during a paper presentation at this year’s Conference of Nigeria Trade Association (CONiTA 2024), held on Wednesday, October 30, 2024, at Lagos Chambers of Commerce and Industry (LCCI), Alausa, Ikeja.
Represented by Iyanda Olufemi, Princess Jumoke Owoola, noted as unfortunate the act of foreigners taking over the country’s resources and heritage through illegal mining with promises that don’t come through.
She described the act as an “invasion of rural community across Nigeria with hidden agenda” whose effect diminishes indigenous entrepreneurship. She therefore stressed that this should not be taken for granted.
Speaking on the title: “Unlocking potential for Indigenous Entrepreneurship strategy and success,” she said it was not too different from the basic concept of entrepreneurship whose motive is to make profit, it involves identification of investment opportunities and application of the available resources for successful growth.
She encouraged artisans to take advantage of indigenous knowledge in production of materials that are highly demanded outside the country, citing charcoal as an example which are usually in high demand abroad between September and February.
This she said can be added as an additional stream of income in the modern time.
She however noted the need to observe the requirements and guidelines surrounding such business and any other by the relevant authorities.
In her recommendation she said, “Government should engage artisans in providing technologies with financial assistance and connecting to financial organizations like Bank of Industry and the like”.
On her part, the keynote speaker, Taiwo Abiose, Director of Entrepreneurship Department, Lagos State Ministry of Wealth Creation & Employment buttressed the importance of practicing social responsibility in business undertakings.
Speaking through the assistant director, Wale Thompson, she called on entrepreneurs and artisans to focus on solution instead of alarming over problems day by day.
“The Japan, China and other developed nations we use as an example today focused on solution where others were magnifying their problem. It is solution that has brought the Compressed Natural Gas (CNG) innovation that we are currently embracing to run our motor vehicles,” she said.
In his reaction, Jerry Ukperoro of Association of Carton and Wastes Recycling Dealers of Nigeria (ACWREDON) posited that foreign companies come to exploit Nigeria, noting that the advent of foreign players caused the death of indigenous craft and artisanal production, because they produce in mass and sell directly in the local market thereby discouraging indigenous production.
He cited the cain village at Maryland, the Adire culture and several other indigenous entrepreneurship business which have been negatively impacted as a result of this.
“If the government does not come up with policies to revamp indigenous businesses; that the current 98% rate of informal sector employment might drop drastically below 45% and this would mean a chaos for Nigerian economy,” he lamented.
CONiTA, is an annual multi-interface conference that provides platform for different trade associations, professional organizations and artisans both at formal and informal sector; business regulators, policy makers and sustainability advocates across industries to share practical models and ideas that can harness the inherent status of trade associations for good governance, inclusive growth and shared prosperity in Nigeria.
The theme for the conference was: “The Nexus of Sustainability, Entrepreneurship and Trade Association in a Modern World”.
In his remark, Dr. Nelson Obine, Convener of CONiTA, and President of the Institute of Trade Associations Management said, this year’s conference focusses on marketing strategy and sustainability in Nigeria with the aim to drive honest conversation and generate dialogue around critical issues.
The conference attracted professionals, individuals, and artisans across various trade associations among which large numbers of the members of the Lagos State Council of Tradesmen and Artisans (LASCOTA) were in attendance. Other trade associations present included, National Electronics Technicians Associations of Nigeria (NETAN), and Lagos State Charcoal Marketers Association (CMA).
The event which was the 6th edition enjoyed support from various corporate organisations including, Access Bank, First Bank, Flour Mill of Nigeria and Nigerian Breweries.
Photo shows a section of participants at CONiTA 2024.
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