Embrace entrepreneurship to check economic downturn, says Obasanjo

FORMER President Olusegun Obasanjo, has called for the adoption of entrepreneurship as the way out of the economic downturn in the country.

The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, asked state governors to provide start up fund for graduates.

Emefiele, who was represented by his deputy, Hajia Adiza Maina, also urged the youths to be creative.

Obasanjo was represented by Mr. Ayodele Aderinwale, the Deputy Chief Coordinator, Obasanjo Presidential Library, yesterday in Ibadan at the maiden graduation ceremony of Central Bank Nigeria Entrepreneurship Development Centre (CBN-EDC).

He stated the need to embrace entrepreneurship at this critical time of economic harsdship.

The CBN-EDC turned out 456 people in various skills like service, agriculture, production, lifestyle, trading and ICT.

Obasanjo told his audience that; “The current international price of crude has negatively affected the livelihoods of our citizenry and from all indications, could experience further decline.”

“Jobs are currently being lost in all sectors of the economy, posing a challenge for government to deal with. The Nigerian market is that which thrives on population and economic power.

“We must begin to look inwards by creating value through commercialisation of services and products driven by skills acquired by individuals, who strive to engage in business endeavours,” he said.

Governor Abiola Ajimobi of Oyo State in his speech called for the diversification of the economy, adding that the time is ripe for people to start looking inwards to reduce the current level of unemployment in the country.

Ajimobi was represented by Mr. Olalekan Ali, a former Secretary to the State Government.