ENTREPRENEURSHIP WILL UNLEASH SPARKS OF GENIUS IN YOU, OGUNBIYI TELLS AJAYI CROWTHER STUDENTS

Dr. Akin Ogunbiyi, Group Chairman of Mutual Benefits Assurance Plc, has encouraged Nigerian students to embrace entrepreneurship, stating it can unlock their potential for innovation and creativity. Speaking at Ajayi Crowther University in Oyo on Wednesday, Ogunbiyi emphasized that entrepreneurship fosters adaptability and drives sustainable economic growth, ultimately building a resilient national economy.

Deputy Vice Chancellor, Ajayi Crowther University, Oyo, Professor Muyiwa Popoola; Guest lecturer, Dr. Akin Ogunbiyi and the Vice Chancellor of the University, Timothy Adebayo after Dr. Akin Ogunbiyi delivered his paper on Entrepreneurship for Economic Sustainability at the public lecture organised by the institution on Wednesday.

Addressing the theme "Entrepreneurship for Economic Sustainability: An Agenda for Nigeria’s Development," Ogunbiyi called on the Federal Government to prioritize the development of an entrepreneurial culture, essential for building a workforce with specialized skills. He highlighted that only seven percent of Nigerians gain higher education and acquire these vital skills, underscoring the importance of skill enhancement for economic progress.

Ogunbiyi also noted that young Nigerians must cultivate critical thinking, prioritize tasks, and navigate challenges to thrive as entrepreneurs. He expressed concern over Nigeria’s talent migration or "japa" phenomenon, which has led to a loss of skilled professionals, particularly in technology.

However, he shared hopeful news: the African Development Bank (AFDB) is establishing a $100 million Youth Investment Bank in Nigeria, designed to support young entrepreneurs through technical assistance, business incubation grants, and lending guarantees from local banks. Ogunbiyi added that entrepreneurship could help Nigeria shift from dependency on imports to a nation that produces and exports agro-related products, strengthening local industries and enhancing human capacity.

Highlighting the success of Nigeria's fintech sector and Nollywood, he praised the entertainment industry for its role as the country's second-largest employer after agriculture, providing job opportunities across various fields.

The Vice Chancellor of Ajayi Crowther University, Timothy Adebayo, commended Ogunbiyi's insights, noting that public lectures offer students real-world perspectives from seasoned professionals. He emphasized that entrepreneurship can lift individuals out of poverty and serve as a strategy for national economic sustainability.

The event was attended by the university's Deputy Vice Chancellor, Dr. Muyiwa Popoola, alongside Ogunbiyi and Adebayo, fostering a valuable exchange of ideas on the role of entrepreneurship in Nigeria’s future.