The President, Nigeria-Russia Business Council, Mr Goodie Ibru, has urged the Federal Government to continue providing environment that minimises the level of uncertainty and enables entrepreneurship and inherent risk-taking to thrive.
Ibru gave the advice at the ‘Hi-impact Interactive Lecture’ series, organised by Caleb University, Imota in Lagos State last Friday.
Ibru, who is the pioneer Chairman, Ikeja Hotels, described entrepreneurship as the most potent tool to fight poverty in Nigeria.
Reports said that the theme of the lecture was: “Wealth Creation, A Practical Experience”.
He said entrepreneurship, if creatively adopted in conjunction with substantial public and private sector investment in education, healthcare, skills and infrastructural development, would be effective key to reducing poverty.
Ibru noted that since entrepreneurship was the veritable vehicle for wealth creation, Nigerian education system needed to produce more patriotic professionals, who were hungry to become successful entrepreneurs.
He described entrepreneurs as great nation builders with an innovative spirit to identify or take advantage of existing or emerging opportunities to provide service that hitherto did not exist.
Ibru said the entrepreneur, as an innovator, through innovation, introduced new products, technologies, processes, industries and organisation that creatively improve on the existing products or ways of doing things.
“We are all witnesses to the creative way by which digital mobile telephony has turned analogue landline telephony into an obsolete communication tool.
“Digital telephony is also creating huge investment, employment and wealth.
“The same way, entrepreneurs have significantly improved on existing product or service,’’ he said.
Ibru said that wealth creation was such a hugely significant skill that required uncommon ability to see a business proposition from inception through to its successful and profitable conclusion.
According to him, the vehicle that delivers wealth creation is entrepreneurship, because it combines factors of production to produce the required goods and service.
“It also receives a reward at the end of the process,” he said.
He also called on young Nigerian entrepreneurs, not to relent but develop a critical business skill that is able to resolve every challenge in the business process.