WARRI. A former Minister of Information, Ghana, Hon. Fritz Baffour, has tasked entrepreneurs in Nigeria to acquire formal education and sound business acumen to grow like late Olorogun (Dr) Michael Ibru, noting that such educational background would ensure sustainability in maintaining a world-class business.
Fritz, spoke at the Michael and Cecilia Ibru University, MCIU, Agbarha-Otor during the maiden annual memorial lecture in honour of late Olorogun Michael Ibru with the theme “Entrepreneurship and Development in Africa”.
He said ‘‘ Although, there are many cases of successful entrepreneurs who did not have formal business education, the growing technicalities involved in sustaining a world-class business makes it necessary that founders possess business acumen and some form of education and training to maintain sustainability in business.”
While explaining the rationale behind his submission, he said acquiring formal education would equip young entrepreneurs with the required tools to succeed in the modern economic landscape of Nigeria and the globalized world.
He argued that Nigeria has what it takes to solve the worlds economic woes, pointing that as the population of the developed world ages with a rapidly diminishing birth rate, the direct opposite is the resultant outcome in Africa.
According to him, ‘‘The last recorded median age for Europe was 37.5 years that of Nigeria’s is 18.3 years. It is also projected that in the next 20 years, people of working age in Europe will decrease by 16 per cent. In economic terms, this means that not only will the cost of labour be prohibitively high, but the economic burden of looking after a large non-productive aging population will be almost unbearable.
” Africa, with its large pool of productive able-bodied men and women, and a reservoir of untapped resources will be well placed to hit the ground running. If we can create the enabling environment for entrepreneurship to bloom and, along with resultant development, wholly engage our labour pool in rewarding meaningful work.”
While congratulating the Co-Founder/President, MCIU, Dr. Cecilia Ibru and the management for deeming it fit to launch an annual lecture in honour of the late Icon and genius, Olorogun Ibru, the former minister charged the university to institute a two or three credit course for 100 level students of the institution and do a comparative analysis of the theories and method of the late Ibru.
Baffour called on Africa to take real possession of both its human and natural resources, adding that it must learn to efficiently manage this treasure trove to its advantage.
Meanwhile, the co-founder and president, MCIU, Dr. Cecilia Ibru, thanked God and all those who made the lecture a successful one.
She said for people to make headway as entrepreneurs in any line of business, they must be persistent and follow their dreams, saying that it was this drive that distinguished her late husband, Olorogun Ibru in the entrepreneurship sector.