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Monday, 21 May 2018

‘Entrepreneurship Key To Poverty Alleviation’

Job creation reduces poverty, creates economic opportunities and guarantees quality life for the people. For any developing country to create jobs and achieve economic prosperity, Prof May Ifeoma Nwoye said such a nation must shift from an economic model which gives handouts to people and focus on entrepreneurship.

This, the don said, will create the wealth to lead the nation out of poverty.

Nwoye, a professor of Business Administration at the Ibrahim Badamasi Babangida University (IBBU) in Lapai, Niger State, stressed the need for developing African countries to adopt economic policies that support entrepreneurial spirit of young people, which, she said, generates wealth and reduces poverty.

She delivered the institution’s 10th inaugural lecture titled: That evil called poverty, entrepreneurial escape to a comfort zone. It was held at the school auditorium.

Noting that no person ever became wealthy and self-sufficient through handouts, the don advocated an economic system that supports economic freedom for low-income earners and unemployed youths.

She said: “Instead of governments giving handouts to people in the name of social security scheme, the poor and the unemployed should be empowered through skill acquisition and vocational programmes. To achieve maximum results, these poverty alleviation programmes need to be managed by people who are entrepreneurially-oriented. The programmes need to be run in collaboration with non-governmental organisations. To achieve prosperity, these empowerment programmes must be sustainability.”

She said efficient business policies had the potential to enhance commercial productivity and fast-track national growth. The unemployed youths and impoverished citizens, she said, could be economically empowered with viable policies.
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