What's up, AprokoNation! Your boy, jelosimi, is here to drop some real talk on something crucial for our future: Entrepreneurship and Business Growth. I've been seeing a lot of buzz lately, both online and in the streets, about starting new ventures. It's clear from the search queries that 'how to start a business' is on everyone's mind, alongside the desire to launch blogs, podcasts, and YouTube channels. That's the Nigerian spirit right there – always looking for an angle, always innovating!
Now, I won't lie to you, the journey isn't always smooth. The recent 'State of Entrepreneurship Report' from Fate Foundation, for example, highlighted a three-year downward trend in new business creation, with a dip to 24% in 2024 from 32% in 2022. The harsh economic conditions, limited access to finance, poor power supply, insecurity, and foreign exchange difficulties are real challenges we face. But even with these headwinds, there are undeniable green shoots: female entrepreneurs are increasingly establishing new businesses, and more young Nigerians are venturing into entrepreneurship, often leveraging technology. Our digital economy's contribution to GDP is growing, and sectors like fintech, e-commerce, and digital services are booming with opportunities.
This brings me to a point that’s always been clear as day to me, living and growing up around Oshodi, Mafoluku, and Ajao Estate. In those environments, when you're hustling to make ends meet, putting food on the table, or trying to scale a small business, nobody, and I mean nobody, cares if you're Igbo, Yoruba, Hausa, Christian, or Muslim. Your reliability, your competence, and your ability to deliver are what truly matter. I've seen countless successful partnerships, friendships, and marriages formed right there, driven by shared aspirations and a common goal to prosper. Those daily interactions teach you that economic survival and growth thrive on collaboration, not division.
It's this very spirit of unity and shared economic purpose that we need to amplify across our nation. Nigeria's business landscape is full of diverse partnerships and entrepreneurial ventures that promote economic cooperation among ethnic groups. When we focus on what different regions contribute to our national wealth – from the bustling markets of the East, to the rich agricultural lands of the North, to the innovative tech hubs of the West – we see a tapestry of immense potential. Our diversity, as many have rightly pointed out, should be our greatest strength, not a tool for politicians to weaponize for personal gain.
The success stories of Nigerian startups like Paystack, Flutterwave, and IrokoTV didn't happen because people were asking about the founders' tribes or religions. They succeeded because of competence, vision, and hard work. This is the model Nigeria desperately needs to move forward – a focus on merit, capability, and performance over any other sentiment. Imagine the collective growth if every leader, every entrepreneur, every citizen prioritised competence-driven solutions and genuine collaboration. That’s the kind of leadership that builds a nation, fosters job creation, and creates an environment where everyone can thrive.
So, whether you're planning that new blog, podcast, YouTube channel, or a full-blown e-commerce venture, remember the power of unity and competence. Seek out partners based on their skills and shared vision, not their surname or dialect. Let's celebrate our mixed marriages, our inter-ethnic friendships, and our cross-regional businesses, because these are the true foundations of a prosperous Nigeria. Let's leverage this platform, AprokoNation, to connect, collaborate, and build. Economic arguments for unity are powerful, and our collective progress depends on it.
Stay winning, my people!