The Best Entrepreneurship Conference Ever for Nigerian Universities attended by 50 Vice Chancellors

[Babs onabanjo]

The A.D. King Foundation hosted 50 Nigerian Vice Chancellors (Nigerian University Presidents) to Atlanta Georgia on Monday May 17-23, 2015.

The Chancellor’s mission to visit and observe strategies of colleges and businesses that are successfully using entrepreneurial models which directly affect young leaders and entrepreneurs and to replicate these models in Nigeria was a great success. The Vice Chancellors testimonies can be found on YouTube unrehearsed. The Gala was attended by great minds and industry leaders among them were the trumpet Award Founder and Chief Executive Officer Xenona Clayton, Chic-Fil-A representative and the Nigerian Consul General Ambassador Geoffrey Teneilabe.

The Nigerian economy, historically, has depended significantly on oil revenues. As the country tries to diversify away from dependence on oil forward thinking Nigerian leaders understand how important entrepreneurship is to the future of the Nigerian economy. The vision of Nigeria is to become one of the world’s top 20 economies during the next two decades. Currently, it is rated as the largest economy in Africa with GPD estimate at 515.431 billion dollars, followed by Egypt and South Africa with GPD estimate at 324.267 and 323.809 respectively. Nigeria has a population of about 173,600,000 (2013). In order to hit that target by 2020, Nigeria will need to increasingly globalize education in two key areas: Information and communications technology, and entrepreneurship.

At least 60% of graduates are not able to get employment immediately. Because of that, people go into one entrepreneurial venture or another, but unfortunately they have not been adequately prepared to face the challenges of venturing. It has become necessary for the Educators of higher learning to put “entrepreneurial studies” into the curriculum in developing these graduates.

There are a few factors that present challenges to Nigeria’s entrepreneurs; Markets, Infrastructure, lack of vision and dreams, Access to Financing, Production, Reform/Regulations and Entrepreneurial curriculum.

The conference successfully identified areas of collaboration with US businesses, mentors and advisers that will foster economic growth and development in the areas of power supply, technology, agriculture, manufacturing, marketing, and funding strategies and opportunities.