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Entrepreneurship, innovation as panacea for unemployment

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Entrepreneurship, innovation as panacea for unemployment

Book title: How They Started: Innovative Nigerian Brands
Author: Kachi Ogbonna
Publisher: MiH Consulting Limited, Lagos
Year of publication: 2016
Pages: 252
Reviewer: Adejoro Cornelius

 

Every government in Nigeria in the past few decades have had to battle with the challenge of unemployment without much evidence of success yet. In fact it is safe to say that of all the challenges that are facing Nigeria as a country today unemployment is top on the list. Governments at various levels, private establishments as well as individuals have adopted different approaches as a remedy to this. Kachi Ogbonna’s approach is somewhat different. For him, not only is entrepreneurship the solution to unemployment, he also argues that Nigeria is the best place to start and run a successful business in the world. This, obviously, is contrary to the general opinion that businesses cannot thrive in a place like Nigeria. His book, ‘How They Started’ is therefore a detailed research which presents an empirical proof that it has been done successfully in Nigeria before and that it can be repeated even now. The author is an entrepreneurship consultant. He has established different businesses and today helps many universities to develop an entrepreneurial mindset in their students. He is also committed to helping startups grow.
The author argues that the solution to graduate unemployment in Nigeria is not rocket science. He maintains that it is first of all a matter of mindset and orientation. He maintains that if the young people can look inwards to discover the latent potentials within them and attempt to match them with the various problems they see in their surroundings with the aim of offering solutions and adding value, they would have succeeded in creating businesses with or without government’s special support.
In showing how Nigeria has always been a land of great opportunities, the author traced businesses that started as far back as the immediate post-independence era and still waxing strong today, down to those that were launched in 2012 and have grown to become multinationals in less than four years. The author’s ability to group the 25 brands featured into sectors (eight sectors in all) shows that opportunities abound in almost every sector of the Nigerian economy.
It is probably just a coincidence that this book was released at roughly the same time that Nigeria is passing through what can be described as the biggest economic decline since independence. The price of crude oil has fallen in the international market, the Nigerian currency the naira has depreciated significantly in value, investors are leaving, companies are retrenching with reckless abandon and with the obvious need to diversify the economy and also reduce importation, I am forced to say that if government and those that run our universities are serious about ending graduate unemployment then they must find a way to liaise with Nigerians in the mold of the author of this book and also adopt it as a practical entrepreneurship manual for building entrepreneurial universities.
It is difficult not to commend the author’s liberality and unbiased selection of the featured brands. However, the more he attempts to lay down the criteria for the selection the more we are forced to ask whether they are the only 25 brands that met those criteria. Yet, it is impossible for me not to recommend this book to all entrepreneurs, aspiring entrepreneurs and indeed everyone that seeks to contribute in growing the nation’s economy through entrepreneurship. Let me also add that every undergraduate deserves to have a copy of this book before leaving the four walls of university.

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  1. Pingback: Entrepreneurship, innovation as panacea for unemployment - US Web Connection

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