By Ikenna Onyejiaku
NIGERIA’S economy thrives on the contributions of its people. From its youthful population to its established businesses and cultural richness, Nigerians play a critical role in shaping the nation’s development. In exploring the multifaceted contributions Nigerians make, it is imperative to outline an action plan and factors necessary to enhance and assure a brighter future, taking cognizance of millions of micro, small, and medium-sized enterprises (MSMEs)
1. Human Capital and Youth: Nigeria boasts a youthful population, a potential demographic dividend for economic growth. However, this can become a demographic time bomb if not properly harnessed.
Options:
Education Revolution: There is a need to revamp the education system to equip the teeming population of youth with relevant skills – technical, vocational, and digital literacy – for the modern job market.
Entrepreneurship Incubators: We urgently need to foster a culture of innovation by establishing mentorship programs and incubators to support young business owners.
Skills Development Programs: There is also a need to provide targeted training opportunities to bridge the gap between education and industry needs.
2. Entrepreneurship and Business: The engine of prosperity Nigerians are renowned for is their entrepreneurial spirit. Millions of micro, small, and medium-sized enterprises (MSMEs) form the backbone of the economy.
Microfinance Expansion: There is a need to expand access to affordable loans, grants and other financial services through microfinance institutions and innovative financing models.
Infrastructure Investment: High level investment in the energy and power sector, transportation, and communication networks is absolutely necessary in the drive to create a sustainable environment for businesses to thrive.
Regulatory Streamlining: There is also a need to simplify bureaucratic processes and regulations to encourage formalization and growth of MSMEs.
Large Corporations: Large corporations can contribute significantly by:
- Creating Job Opportunities: Investing in expansion and fostering partnerships with local businesses to create a diverse job market.
- Innovative Partnerships: Partnering with academic institutions and local entrepreneurs will foster a culture of research, development and innovation.
- Strategic CSR Initiatives: Implementing Corporate Social Responsibility (CSR) initiatives that address social and environmental challenges in their communities, will promote inclusive growth.
3. Public Service and Governance: Obviously, corruption and inefficiency, especially in the public bureaucracy can hinder progress. In steering the ship of the state, the nation’s bureaucrats are in the best position to formulate implementable policies to guide national development.
Good Governance Imperative: There is a great need for Nigerians in public service to uphold transparency, accountability and ensure that implementing policies, resources are deployed effectively and ethically.
Building Institutional Capacity: Investing adequately in training and development programs is imperative to building a competent and professional civil service.
Citizen Engagement: The active participation of the public in governance, which should be pressed through an eleborate civic education, engagement in open forums and on e-governance platforms should be pursued.
4. Social Development and Civil Society: There is no doubt that Nigerians actively contribute to social development through civil society organizations (CSOs), especially in addressing critical issues where government efforts might fall short. This engagement has raised the status of CSOs in strengthening the social fabric of the larger society.
Empowering CSOs: There is therefore a great need to provide adequate support and resources to CSOs to enhance their capacity and effectiveness in addressing socioeconomic challenges.
Collaborative Partnerships: Collaborations between the government, private sector and CSOs should be encouraged in order to create a multi-stakeholder approach to social development.
Volunteerism for Progress: For almost for nothing, Nigerians are always ready to contribute their time and skills to their benefit of their immediate communities and society at large. To encourage a culture of volunteerism, platforms can be created with incentives to draw attention of Nigerians.
5. Culture and diversity: Nigeria’s unity is certainly built on its rich cultural heritage and diversity, in spite the rather inherent and imagined challenges of ethnic and religious tensions.
Cultural Exchange Programs: The implementation of programs that promote intercultural dialogue, foster understanding and respect for diverse traditions is imperative. Such programs should be designed to diffuse suspicions and mistrust that can easily fuel misunderstandings and ignorance.
Investment in the arts and creative industries – film, music, fashion, and cultural fairs – can definitely enhance economic development and nation building. The immediate impact will be the celebration of shared values.
By harnessing this collective creative pool and streams of talent, the resilience of Nigerians across all sectors, will the nation can achieve its full potential. Let us work together to weave a tapestry of progress for a brighter future for all Nigerians.
Onyejiaku, Ph.D, delivered this lecture on April 27, 2024, with the title, “The Role of Nigerians in National Development: A Tapestry of Progress,” at the 6th in the annual lecture series of Tornado Convention, held at Umabi, Udi Local Government Area, Enugu State.
