Group advocates creating ministry of young entrepreneurs

A group under the aegis of the Young CEO Initiative’, has advocated for the creation of the Ministry of Young Entrepreneurs, which, according to the Initiative, would stimulate small and medium-scale enterprises in Nigeria

The call was made by the Founder of the Initiative, Mr Aigbe Omoregie, on Monday during a press conference in Benin.

Joined by other members of the initiative, Omoregie maintained that the ministry, if created, would help to relate directly to young entrepreneurs and drive the spirit of entrepreneurship in the country.

He asserted that most young entrepreneurs employ the highest number of people, thereby generating the highest amount of revenue as far as Nigeria’s Gross Domestic Product (GDP) is concerned.

This effort, he said, had helped reduce unemployment to a significant level.

Also, we want the president to instruct the CBN (Central Bank of Nigeria) to make public the currency swap agreements between the CBN and the Republic of China Central Bank, so that our people can take leverage from this.

“Remember, a few days ago, a Human Rights activist, Femi Falana, came up with the revelation that there was a currency swap agreement between the two countries that would help our people going to do business in China not to source for dollars but to exchange naira for Chinese currency”, he said

Omoregie urged President Bola Tinubu to, as a matter of urgency, create an enabling environment for businesses to thrive, particularly in the areas of clearing.

“The situation at the clearing point or the entry point as far as the clearing system is concerned is frustrating to us.

“The high cost of clearing has also increased the cost of commodities in the market, most especially for those of us in manufacturing.

“You can source for dollars at a very high cost and clear your goods at a very high cost; it is the common man on the street that suffers for it.

“We also ask that the government provide subsidies for young entrepreneurs that go into the importation of raw materials for manufacturing. This will help to crash the cost of commodities in the market,” said the initiative’s founder.

The young entrepreneur regretted that many enterprises belonging to members of the initiative had folded up in recent times due to the prevailing economic situation.


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