Obasanjo Details How Igbo Presidency Will Boost Entrepreneurship, Industry in Nigeria

Obasanjo Details How Igbo Presidency Will Boost Entrepreneurship, Industry in Nigeria

  • Former president Olusegun Obasanjo has said that Nigeria's economic development depends on the country producing its next president from the south-east
  • Obasanjo was speaking when a presidential hopeful, Sam Ohubuanwa visited him in Otta Ogun State
  • Vice President Yemi Osinbajo also praised the entrepreneurial drive of the southeasterners saying their apprenticeship model can promote wealth creation

Former President, Olusegun Obasanjo has detailed how the hardworking and industrious people from the Southeast will boost entrepreneurship, industry and enhance economic growth if the region is allowed to produce the next president of Nigeria.

The erstwhile president expressed his support for Igbo presidency when Sam Ohuabunwa, a presidential aspirant paid him a visit.

Former President Olusegun Obasanjo
Former President Olusegun Obasanjo Credit: Xabiso Mkhabela
Source: Getty Images

According to TheNiche, Obasanjo said that beyond bringing unity, he believes people from the southeast can model hard work, entrepreneurship and hard work.

According to him, it will spur economic growth and fight poverty ravaging Nigeria.

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A tough job the Igbos

Obasanjo told Ohuabunwa that the presidency is a tough job.

Ohuabunwa, pharmacist said it was time to reconcile Nigeria by allowing someone from the region to produce the next president in 2023.

Osinbajo echoes Obasanjo

Similarly, Vice President Yemi Osinbajo, the Igbo apprenticeship scheme provides the surest platform to build wealth, nudge the economy and tackle poverty.

Osinbajo, who spoke at a national summit on understanding the apprenticeship model in Awka, said several millionaires have been produced by the scheme.

The scheme is popularly known as ‘igba boi’ in Igbo language. It requires an apprentice to learn the ropes of a business for a particular duration after which his boss establishes the exact business for him.

Osinbajo says the scheme has the potential to grow Nigeria’s economy. He said while participating virtually that, “the Igbo apprenticeship scheme ‘igba boi’ has become the most popular indigenous Nigerian economic institution, globally recognized as the world’s largest business incubator.

World weighs in on economic outlook for Nigeria

In World economic outlook for Nigeria, the bank said that Nigeria continues to face massive developmental challenges, including the need to reduce the dependency on oil and diversify the economy, address insufficient infrastructure, build strong and effective institutions, as well as address governance issues and public financial management systems.

Inequality, in terms of income and opportunities, remains high and has adversely affected poverty reduction. The lack of job opportunities is at the core of the high poverty levels, regional inequality, and social and political unrest. High inflation has also taken a toll on household’s welfare and high prices in 2020 are likely to have pushed an additional 7 million Nigerians into poverty in 2020.

Nigerians spend over N947bn buying beer

Meanwhile, Legit.ng has reported that Nigeria has been ranked among the best selling countries for beer, helping companies' producers to smile home with over N947 billion( $2.29 billion)

This was disclosed in a report titled “Beer’s Global Economic Footprint” which was put together by Oxford Economics.

The oxford economics report obtained by Legit.ng also revealed that 70 countries controlled 89 per cent of global beer sales.

Source: Legit.ng

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