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From Idu Jude Abuja
Captains of Industry and emerging entrepreneurs in Nigeria have been charged not just to establish businesses, but to ensure they are professionally nurtured to survive and contribute meaningfully to the growth of the Nigerian economy.
This charge came as many businesses went extinct due to unprofessional practices and a lack of financial management skills among owners who could not manage businesses to grow and survive stormy weather.
The 62nd President of the Institute of Chartered Accountants of Nigeria (ICAN), Hajia Queensley Sofuratu Seghosime, stated during a book presentation in Abuja titled Igniting Entrepreneurship, authored by former Director, NNP, NNPC, Dr. Mrs Wosilat Olaitan Adebayo, with an emphasis that entrepreneurs should always think outside the box in ensuring survival.
Represented by Mrs. Nyakno Ololade Oluokun, the ICAN helms person, who highlighted that
“Nigeria does not merely need more businesses. We need more businesses that survive, grow, create employment, compete successfully and contribute to national prosperity.
“We need entrepreneurs who can recognise opportunities where others see difficulties, transform challenges into solutions and build enterprises capable of creating value beyond their founders.
But ambition alone is not enough.”
She indicated that the title of the book speaks to something fundamental about human potential. “Every successful enterprise begins with an idea, but not every promising idea becomes a successful business.
“An idea may start a business, but it takes knowledge, discipline and integrity to build an enterprise that endures.
That is why this publication is particularly timely.
She further emphasises that passion may ignite an enterprise, but sound financial management keeps its flame alive, adding that too many promising businesses struggle, not necessarily because their ideas lack merit, but because their financial foundations are weak.
This, she said, is owing to poor record-keeping, inadequate planning, weak internal controls and the failure to distinguish personal finances from business resources, which can undermine even the most innovative ventures.
“This is where the accountancy profession has a vital responsibility.
Chartered Accountants do more than prepare financial statements. We help entrepreneurs understand their numbers, manage risks, fulfil their tax obligations, access finance, strengthen governance and make decisions that support sustainable growth.”
Meanwhile, the ICAN President has stated that business becomes truly sustainable when its success no longer depends solely on the energy of its founder, but on the strength of the systems and values upon which it is built.
“Through this publication, Dr Adebayo is contributing to that important journey from entrepreneurial ambition to enduring enterprise.
“I particularly commend her decision to document and share her knowledge. There is something profoundly valuable about professionals who recognise that their experience should not end with their personal accomplishments.
“Knowledge becomes a legacy when it empowers others to achieve what they might never have accomplished alone.
Dr Adebayo, that is the larger significance of what we celebrate today.
“Your book has the potential to inspire an aspiring entrepreneur, strengthen a struggling enterprise,e and equip a business owner to make better decisions.
“To everyone who reads this book, I offer a simple encouragement: do not merely be inspired by its ideas. Put them to work. Let the knowledge you acquire become the decisions you improve, the businesses you strengthen and the opportunities you create.
“As we celebrate this accomplishment, let us also remember that the true measure of entrepreneurship is not simply the number of businesses established, but the value they create and the lives they improve.”
Speaking in a welcome address, Hajia Simbiat Adejoke Shitu,the book is a complete guide to building a successful business and as well a celebration of knowledge, vision, creativity courage and spirit of enterprise.
“It is a celebration of an author whose passion for Entrepreneurship inspired her to put valuable knowledge and practical guidance into a book that can empower individuals, strengthen businesses, and contribute to economic development.
She said the book should practically serve as one of the most powerful instruments for creating wealth, generating employment, and reducing poverty in a world where economic challenges continue to confront individuals and communities.
She said the ability to identify opportunities, develop innovative ideas, and develop successful businesses has become more important than ever. She further said that the title of the book, Igniting Entrepreneurship, has become more inspiring and significant.
Consequently, the book reviewer, Pastor Dr. Tope Omoge, a non-executive director at First Bank of Nigeria, observed that the book, in its entirety, is problem-solving. She added that the book, dealing with entrepreneurship, is the ‘boss word ‘: “Even if we don’t set up a business, the way we run our lives to a positive surplus is an Act of Entrepreneurship.
“Her book, Invite Entrepreneurship, is your guide to building a successful business. She describes the author as a professional who is dedicated to her career and has taken it to the highest level.
In the book, she says it is a well-structured, methodical text that successfully bridges the gap between academic business theory and the reality of running a day-to-day enterprise. “This is core philosophy that is blending heritage with modern business.
“What makes the book title an interesting read, right from the start, is how the author frames the mindset of a business owner. She doesn’t treat business as a series of corporate spreadsheets; instead, she presents it as a dynamic problem-solving lifestyle.”
Chairperson of the occasion, Dr. Mrs. Bolanle Ali, and the book’s chief launcher, the NNPCL, while speaking, said the book is a manual for many generations for an enduring legacy.
“One thing in this country, and a problem, is that we don’t document our experiences to enrich the minds of the next generation. It is unique in our nature. With this, the next generation may have it as a guide and reference point for successful businesses and Entrepreneurship.
“We urge many institutions and emerging businesses to have this as a guide for a successful strategy,” she concluded.
The book author, Dr. Mrs. Wosilat Olaitan Adebayo, in a vote of thanks, called on all Nigerians, including academics, students, captains of industry, as well as emerging entrepreneurs, to have the book as a guide.
