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- Proffers solution to Nigeria’s economic challenges
From Aloysius Attah, Onitsha
A Non Governmental Organisation, the Ultimate Destiny Uplifters Foundation (UDUF Africa) has organized a two-day business leadership Bootcamp in Onitsha, Anambra State, Nigeria to guide entrepreneurs on how to remain afloat in their endeavors following the challenges faced by businesses in the country.
The bootcamp targeted to enhance leadership and business management skills and encourage networking among participants was attended by more than 40 participants drawn from various sectors of the economy.
In his opening remarks, founder of UDUF Africa, Dr. Ezuma Smart Chinedu, emphasized the importance of perseverance and acquiring necessary skills to achieve business goals.
During the bootcamp, participants discussed extensively on the impact of exchange rate fluctuations on small and medium enterprises (SMEs) in Nigeria.
They identified poor government policies, devaluation of the Naira, low social values, international debts, and corruption as the causes of this impact. The effects of these issues were also discussed, including increased transportation costs, higher food prices, high crime rates, shortage of cash, and low productivity.
To address these challenges, the group proposed various control measures. These included encouraging local production, implementing good financial policies, reducing the cost of governance, decreasing interest rates on loans for SMEs, promoting an export-driven economy, and establishing refineries. These measures aim to improve the performance and survival rate of SMEs in Nigeria, as well as contribute to the country’s GDP.
The bootcamp breakout sessions were facilitated by professionals such as Prof. Olusegun Oludapo Sogbesan, Director General of Onitsha Business School, Lady Chinwe Nebolisa, a business consultant and Barr Emmanuel Ikenna, a professional business leadership coach.
The panel discussions further mainstreamed on self-leadership, effective time management, goal setting, and maintaining motivation for leaders and entrepreneurs as requisites for success in business endeavors.
They also covered the fundamentals of starting, growing, and sustaining a business, wealth creation, and smart investments.
The bootcamp concluded with the presentation of certificates to participants and a Tea and Suya night hangout with the facilitators.
The Ultimate Destiny Uplifters Foundation aims to provide capacity-building opportunities to young people, entrepreneurs, and leaders who have a passion for serving humanity and transforming African communities.
