•Urge greater MSME funding, support
From Adanna Nnamani, Abuja
Economic experts have called on the government, private sector and citizens to prioritise youth entrepreneurship as a national development strategy, stressing that the future of Nigeria’s economy depends on the success of its young innovators and job creators.
The stakeholders made the call at the launch of the Rise and Thrive Young Entrepreneurs Acceleration Program in Abuja on Tuesday.
The event, organised by the De-Nexus Center in partnership with the African School of Economics, brought together industry experts, business leaders, and youth from across the country to explore practical ways of supporting entrepreneurship and tackling the systemic barriers faced by startups.
Founder of the De-Nexus Center, Gloria Akobundu, noted that the prosperity of Nigeria and Africa hinges on creating enabling environments for young people to thrive.
“We must stop waiting on government jobs. Every citizen is a mini-government in their own right. We need to support young entrepreneurs to create sustainable businesses that will drive economic growth and peace. If we work together, the government, private sector, and citizens, Nigeria and Africa will rise and not just rise, but thrive,”Akobundu declared.
She said the programme aims to mentor emerging entrepreneurs, connect them with professionals across law, banking, and tech, and help them navigate challenges such as lack of financing, technical know-how, and weak business ethics.
Project Coordinator of De-Nexus Center, Matthew Obono, described the Rise and Thrive initiative as a business incubation and acceleration programme designed not just to inspire but to equip young people with the tools, networks, and funding necessary to launch viable businesses.
“Many great business ideas die in silence, not because they are not viable, but because young people lack strategic support. This program is a launchpad for their ideas, connecting them to mentorship and capital so they can thrive in the competitive market,” Obono said.
Speaking at the event, Mr. Oladipo Asehinde, Co-founder of BuyPower Nigeria, shared his entrepreneurial journey, highlighting the importance of problem-solving as the foundation for business innovation.
According to him, the drive to simplify electricity bill payments birthed their startup, which has now grown into a national brand.
“Entrepreneurship is the heart of national development. Finance is a common challenge, yes, but the real starting point is identifying a problem and committing to solving it. The money will follow the impact,”he said.
Asehinde urged the government to support startups by improving power supply, offering tax waivers for early-stage businesses, and providing more structured access to funding.
Representing the Vice Chancellor of the African School of Economics, Dr. Oluseye Ajuwon described the event as a timely intervention for youth development, noting that entrepreneurship remains one of the most effective tools for combating unemployment and stimulating economic growth in Nigeria.
He commended the De-Nexus Center for its foresight in convening the initiative and reaffirmed the university’s commitment to hosting more impact-driven programmes.
The Rise and Thrive programme is expected to run in phases, offering training, mentorship, pitch sessions, and access to investor networks, with the long-term goal of producing scalable businesses that can contribute to GDP growth and job creation in Nigeria.