₦airaland Forum

Nigeria leads the world in
enthusiasm for business,
according to a survey carried
out by Global Entrepreneurship
Monitor (GEM). Indeed, the
report noted that, all across
Africa, a growing wave of
grassroots self-starters are
taking risks and defying
obstacles to bring their money-making ideas to life.
Armed with a can-do attitude and hopes of striking it big,
they’re navigating a conundrum of challenges to pursue
opportunities at a time when many African countries enjoy
unprecedented levels of economic growth.
GEM is the acclaimed largest study of entrepreneurial
dynamics in the world, providing information to help policy
makers, civil society and the business community
understand the obstacles to nurturing entrepreneurship,
enterprise promotion and growth. GEM annual surveys arer
carried out in 99 countries.
The GEM survey noted that Nigeria leads the world in the
proportion of the population who believe they have the
skills to run a business, with almost 90 percent of Nigerian
adults believing they have the ability to become
entrepreneurs. The result of the survey shows that out of
every 100 Nigerian adults, 35 are involved in some sort of
entrepreneurial activities. It added that Nigerians are not
deterred by fear that their new enterprise will fail; only 21
percent were concerned by this risk.
The survey confirms Nigeria as an entrepreneurial nation,
where most adult Nigerians see opportunities in
entrepreneurship, believe in their own entrepreneurial
capacities and declare themselves ready to start and run a
business. Indeed, 44 percent of the population intend to
create their own businesses within the next five years. Of
those surveyed for GEM, almost a quarter (22 percent) said
they expected to create between 6 and 19 jobs over the next
five years.
Growth and development
In 2012, the report stated, 21.7 percent of Nigerians aged
between 18 and 64 years of age were preparing to start a
new business, which is the second highest rate in sub-
Saharan Africa, after Zambia, and 14.9 percent of adults
were actually running a new business.
GEM noted that Nigeria had taken a number of steps to
support small and medium-sized enterprises and the federal
government has established support for the private sector
as a policy priority. “A number of schemes to help small
business are in operation such as the Bank of Industry (BoI)
and the Bank of Agriculture (BoA).”
Access to finance
All new entrepreneurs report finding financing for their
ventures is a barrier to creating and growing an enterprise,
while lack of access to finance is the major reason for the
discontinuance of an enterprise. There are few domestic
equity sources, as well as limited sources of export finance,
and SMEs’ participation in the stock market is minimal, due
to their inability to meet the listing requirements, as well as
their persistent tendency to operate as much as possible in
the informal sector.
The commercial banks remain the primary formal source of
finance for enterprises. Though banks are already
encouraged to give more money to entrepreneurs, but
procedures need to be simplified and information about
financing schemes should be more widely available.
Gender dynamics
Nigeria stands along with the handful of countries with more
women entrepreneurs than men and more early-stage
female entrepreneurs than males. Africa leads the world in
the number of women starting businesses, with almost
equal levels of male and female entrepreneurs. In fact, in
countries like Ghana, Nigeria and Zambia the women
outnumber the men.
Overall, the continent has a much higher proportion of
female entrepreneurs compared to other regions, with
Nigeria and Zambia (both 40.7 percent) coming on top and
countries like the United States (10.4 percent), the UK (5.5
percent), Norway (3.6 percent) and France (3.1 percent)
lagging far behind. According to Mike Herrington, executive
director of Global Entrepreneurship Monitor (GEM) and
professor at the University of Cape Town in South Africa, the
main reason for this is because women in Africa “need to
earn an extra income to be able to afford to send their
children to school.”
Young entrepreneurs
About 82 percent of Nigerian young people perceive a good
opportunity to start a business while 86 percent believe that
they have the skills and knowledge necessary to start a
business. However, young males tend to have slightly higher
intentions and perceptions of good entrepreneurial
opportunities and capabilities than the young females.
Over 82 percent of Nigerian youths see entrepreneurship as
a good career, 77 percent believe that successful
entrepreneurs have high status and recognition and 78
percent are comfortable with the level of visibility that
entrepreneurs enjoy in the media. The decision to go into
entrepreneurship was mostly influenced by parents and
friends. This is reflected in the fact that the majority of
young entrepreneurs source their start-up finance from
family and friends, and nearly half of them conduct their
business from home or on the street.
Source: www.vanguardngr.com/2015/03/business-enthusiasm-nigeria-tops-global-ranking/

Why are they just telling us this now. @ least they know we are winning the war now without their help so they are just looking for cheap means to justify the reason why they could not help.

I shared tears afer reading this

This matter is not a big deal. He should just provide the certificate now or are northern elite also Threaten Jega

I read that GMB said he will give free meals to pupils, allowance for unemployed youths and N5,000 for poor families. I laughed because Adams Oshiomole promise us the same thing during his campaign and even promised 10,000 Jobs in his 1st 3 months in office, pay furniture allowance and life allowance to civil servant free school fees from primary school to higher institution the truth is that none of this are in his record till date. Later Oshiomole told us that the opposition who were in the house were not in his support and even increased the tax of Edo state worker without even adding a kobo to their salary (this caused a lot of strike by labour unoin that time but Oshiomole bought Labour leaders over). His reason for tax increment was that it was because of the World economic crisis @ that time that was why taxes were increased and even told us that the increase in tax affects everybody including his own salary as state governor. I believed him then but till now wen he and his party are in control of the state nothing has happen. The only tin that I can say Oshiomole has done in his administration is the construction of some roads and restructuring of schools in some part of the state especially in Etsako (his home tribe) and some part Benin. These schools lack teachers and Science labs are not equipped. This propaganda by APC I don't believe it. Let Buhari tell us how he is going to share this promised money because a sane person who know much about our finance and economy will tell you that this is not sustainable.

They were never crshed rather they were supressed that is why we are still here. A report credited to boko hara once said that they would have been able to take over nigeria in the next 20 years if not that they were disturbed early. So u c the planning to fight did not just started now. If only everybody was as cooperative the way the north and south were against the group u just mensioned imagine wot would happen. When was the first time buhari condem boko haram activity?
B4 I drop my work how did sokoto caliphate come about. Just asking don't be deceived

I respect any man and woman who adopt children. Some don't have children y others don't have parents. But real parents (even without biological children) will always care for such children.

A reason why I will say for the first time GEJ till 2019.

Governor Adams Oshiomhole of Edo State has said that his government will cut costs and block leakages as part of measures to survive the expected drop in the revenue accruing to the state from the federation account as a result of the crash in the price of crude oil.
Speaking at the state’s first Executive Council meeting in Year 2015, the governor said 2015 will be very difficult, adding that the government will still sustain the progress made in infrastructural development, noting that it was how the little resources available were managed that mattered and not how much the state earns.
He said: “I know we had to go through a very difficult period last year. There is no question that there is a huge gap between our revenue projections and actual receipts from the federation account arising from alleged oil theft but also a huge gap existed between our projected local revenue and what was actually realised.
“With the sustained general reforms, we have decided that some of the gains of this government will be consolidated. It is very clear that we are going to face very serious challenges this year. As at the time we passed our budget, it was based on about $78 per barrel and the Federal Government which acted later,  had to review its figure downwards twice and at the last count had chosen to adopt $65 per barrel.
“It is not clear whether this unstable market price is going to continue on a downward trend or whether we have seen the worst of it or whether we are likely to experience a marginal increase in price but what is obvious is that this year’s revenue will be far less than expected and for me, it is not to overstress the issue whether the volume of oil theft is avoidable or unavoidable.
“Whether we know the thieves or we do not,  whatever is the case, the receipt from the federation account is likely to suffer a huge fall. There is nothing anyone can do about that. It is beyond our control.”
To survive the tough year, Oshiomhole said: “We are going to renew our commitment to cut costs and block leakages as much as possible and ensure that all taxes that are collected are actually reflected in the revenue of government. We will ensure that all leakages in the tax collection chain are blocked.
“Also, we are going to sustain the progress made in other areas where we have made improvements. So, it’s going to be a tough year, but as they say, tough times don’t last, but tough people do.”
Source: http://www.vanguardngr.com/2015/01/falling-oil-prices-edo-cut-costs-2/

No matter what u think there is transformation in this sector. Let transformation continue and not change.

I can not see how a person who have not develop himself "economically“ (borrowing 27.5m naira to buy a presidential form) is going to develop Africa largest economy.

Nigeria produces an additional 20 million tonnes of food, providing over 3.5million jobs before 2015.

Introduced by President Jonathan and implemented by the Minister of Agriculture and Rural Development Dr. Akinwumi Adesina, the Growth Enhancement Scheme's aim was to provide subsidized farm inputs directly to farmers. Within 90 days of its introduction, the massive corruption in fertilizer distribution process which had lasted over 3 decades was eradicated. Right now, over 90 per cent of farmers in Nigeria have access to farm input without stress.

In November 2012, 10 states kicked started paddy rice production and dry season farming. Farmers involved in this programme produced 1.1 million tonnes of paddy rice, created 467,000 jobs and N37 billion was generated. To ensure the steady increase in paddy rice production, the President put a ban on rice importation to increase the patronage of Nigerian rice. The State House kitchen was directed to use Nigerian rice only while feeding members of the First Family and their visitors. Nigeria had one rice milling company which was almost moribund before President Jonathan came into office. Right now, there are 18 milling companies all over the country established by Jonathan to accommodate the tremendous increase in rice production that has been recorded in the last three years.

In 2012, over 24 million stem cuttings of cassava were distributed to farmers free of charge, helping create a cassava industrialization policy. This development transformed Nigeria into the largest processor of cassava in the world. President Jonathan established the N10 billion cassava bread fund to support nationwide training of 5,000 master bakers, expanded the production of cassava, supported cassava flour processors to produce more cassava flour at lower cost, expanded corporate bakers and intensified social marketing of cassava bread.

Cocoa farming was not left out in the new revolution. In 2012, the Federal Government launched a massive programme to rehabilitate the old cocoa plantations and raise the production of cocoa through the free distribution of over 3.5 million hybrid cocoa pods. It rehabilitated 86,000 hectares and planted 57,000 hectares.

Jonathan launched a self-employment initiative under the Youth Employment in Agriculture Programme designed to encourage youths to go into commercial agriculture. The plan is to develop over 750,000 young entrepreneurs by 2015. Six airports were designated to be perishable cargo airports close to places in the country with abundant food supply, to aid food distribution in Nigeria and easy exportation.

The annual food importation bill reduced from $7 billion to $4.3 billion recently due to the efforts put in by President Jonathan to ensure Nigeria is self-sufficient in food production. Nigeria has increased national food production by 21 million tonnes. This figure surpasses what was projected by President Jonathan to be produced in 2015.

These developments did not escape the notice of local and foreign investors. They saw Nigeria as an investors' destination and keyed into the Transformation Agenda in the agricultural sector. So far, Nigeria has been able to rake in over ₦ 1.7 Trillion naira worth of investment.

President Jonathan is moving Nigeria forward.
Source: http://bb.forwardnigeriaapp.com/newssingle.php?id=417&row=5

dre11:

The evolution is quite obvious
Even a dead man will know how fraud it looks like.





Can't be decieved again

But the one who killed the system before and still paid 500 million naira for it is who you want back.

Ok

We have not been seeing Buhari of recent in the media. where is he?

We have not see this Buhari in public for some time now. Where is he.

Of recent we have no be see this Buhari in the public where is he.

We do not neeed change now but more of this transformation.

blognetbase:
Lol...

na Auchi Poly LiB. U dey yab like dis. As far as I'm concern is one of d largest Lib. In Nigeria.

Coded7: Wetin Jona won carry dis award do now, well d last time I checKed d price of garri is still sky high

but u could still buy it. GEJ till 2000009

pls y is it that anytin dat FG tells Nigerians is a always a lie if any person/party say odawise. in oda countries u wiil c it citizens reacting to wot the us are doing to us. since when they decided to help us in the fright against the insurgence wot have dey actually done and achieved for us. nigerians tot their intevension will help to comb boko haram in 2 wks at maximum: here we are today after 2 months. "Abeg our govt dey try". Nato (america and oda world power military alainace) have been in afgan for more than 10yrs and they neva achieve anytin and apart for that it took them over 10 yrs also to located osama bin ladan despite their so called advance technology and intelligence.

Since we have had from d FG dat this issue is about our country security it shud not be a public discussion. Pls let us not play police with this; let's stand as one and find d real cause of wot actually happened and find solution to it. since d FG said America are blocking d way to buy weapons legally.

FCT

Thank u sirThank u sirThank u sir

keep it up

234GT: Fighting for the so called masses to your own detriment makes no sense.

Those you were fighting for have graduated and a good number of then have moved into the future of their dreams.

Sorry!

Maybe the governing council of the school will name a lecture theatre after him

sorry! Wot Madela did in South Africa was d same. Can u compare Mandela to his mate who run away frm d truth because dey wanted to protect der life. Pls read about our INEC chairman dis was d same reason dat got him dat position. What is in life dat we shud b afraid of @ d detriment of our generation unborn.

AnanseK: Jews hate Christians as much as they hate Muslims. Especially nigga Christians like you.

but Israel ve not be launching rocket or using suicide bombs to terrorize d Christians.

honEmirate: And to all the blind-apologists of Israel's inhuman and cruel acts...... The country (Israel) is populated with 73% JEWS, 17% MUSLIMS, 2%[b][/b] CHRISTIANS, and the remaining few for other religions and non-practising fellows..... Can any of you tell me what is retaliatory in killing an EIGHTEEN MONTHS old infant with other minors and women as a revenge for hamas actions[/color]?..... Some displays and responses on this NL always give me the reason to reiterate my stand that the so called common sense is JUST not [color=#990000]common!!!!

they their parents decided to live by d gun and rocket launchers. Y can't u tell hamas to live civilian populated areas and form their own barracks so dat dey can attack der enemy from der instead of using der citizen as shield. The protest shud b directed to Hamas and not Israel.

teniyi: Animals like you cannot see the evil Isra-hell is committing! Get away please.

what Israel is doing is self-defence and nothing more.

Kalvan: How is Israel not a terrorist nation?! What do you define as Terrorism? Is the killing of innocent children and adults not terrorism?

then what is Hamas dat are shooting rocket indiscriminately into Israel territory

x2lambo: PDP is so scared of APC .....

neva dey are trying to kill APC

I hv been dating my course mate although we ve graduated we are still very much 2geda . Although we read 2geda and sit down 2geda in exams halls most times back den in school d truth is dat during exams we don't depend on each oda for answer and we both graduated with second class upper (I mean "shape" uppper). We started dating 1st semester 200 level. One thin I believe is dat character/manners is a mata of Individual and not were d person coms from or d group d person belong to. The truth is dat all dos kicking @ dating a course mate because of der experience may hv also encounter problems in der relationship outside dos who are not der course mate. Relationship ve to do with maturity (strong and good mind set 2wards ur partner and wot u can both attain to make d relationship a lovely one), responsibility (do wot u suppose to do and doing it @ d rite time) and also love (which is a decision and nt feelings).