Dr Dikwa Harps on Entrepreneurship, SMEs as Panacea for National Development
The founder and President, Al-Ansar Foundation, Dr. Mohammed Kyari Dikwa has said that the importance of entrepreneurship to national development cannot be over-emphasized.
He made this statement on 19th March 2022 at The Maiden Annual General Conference, Marketplace Exhibition, and Annual General Congress organized by the University of Maiduguri Alumni Association (FCT Chapter).
In a paper presentation titled: Entrepreneurship and SMEs as Panacea for National Development, Dr. Dikwa thanked the organizers of the event for their vision and doggedness and expressed joy for being part of the event.
He stated that entrepreneurship is known to be a leading vehicle of job creation and economic growth all over the world.
He further noted that owing to its great importance, countries pay special attention to the needs of entrepreneurs by creating strong infrastructural frameworks, conducive policy and strong legal and regulatory environments improved access to capital, and protecting intellectual property rights and infant industries and technologies from unfair competition.
While noting his admiration for the invaluable contributions of the so-called “men who built America”, Dr. Dikwa expressed optimism that a few good men in Africa and Nigeria would replicate or surpass that.
“Looking at the economic development of America, one cannot but admire the vision, courage, and impacts of the so-called “Men who Built America”.
“I believe that in Nigeria, and indeed in Africa, a few good men and women can replicate and surpass these models and set the country firmly on the path of economic diversification, industrialization, and self-sufficiency in food and other basic commodities,” he added.
According to him, Entrepreneurship as a cornerstone of national development for emerging economies has garnered support among a broad spectrum of scholars, policy makers, and governments.
“Entrepreneurship contributes to a nation’s economic development by creating jobs and fortune for a nation, the job creation by new and existing businesses is one of the basic goals of economic development.”
Continuing, Dr. Dikwa stressed that entrepreneurship has been found to have a strong correlation with capacity building, unemployment reduction, technology transfer, industrialization, improved local content policy,
development of apprenticeship and poverty alleviation.
He Stated that Small and Medium Enterprises (SMEs) occupy a place of pride in virtually every country or state.
“From this viewpoint, the development of SMEs can be seen as one of the necessary conditions for economic development,” he said.
The founder and president of Al-Ansar Foundation expressed regret that SMEs in Nigeria are below the expected optimal level, saying that these problems have reduced remarkably the volume and variety of production and employment possible for SMEs in the national economy.
Concluding, Dr. Dikwa called for effective strategies for revamping and reforming the SMEs sub-sector through appropriately advising the government on policy formulation and execution.
Recommend the right operators for various incentives and support by the government including funding, be it loans, equity, or grants, among many others.
