In a recent statement by the News Agency of Nigeria on Saturday, Prof. Mojisola revealed this at the 4th Annual Lecture and Matriculation ceremony of Kings University, Ode-Omu, Osun State.
According to her, entrepreneurial skill is the key to the transformation of the youths in several developed countries of the world, and Nigeria must follow suit.
She, however, added that several problems will be expected in the endeavor since various factors work against Small and Medium Enterprises entrepreneurial development in Nigeria.
Her words, “The driving tool of this transformation has been the same young, educated and talented generation popularly known as ‘Millennial Entrepreneurs.
“However, challenges abound in the endeavour as many factors have been identified to be militating against Small and Medium Enterprises entrepreneurial development in Nigeria.
“These factors include: obtaining finance, monetary policy, lack of electricity supply, poor policy among others.
“This raises an issue regarding the need for an enabling environment and support system to promote SMEs in Nigeria, especially among the youth population.”
“A lot of innovations have taken place in food formulations and the packaging of local foods.
“NAFDAC identified the challenges of Micro, Small and Medium Enterprises (MSMEs) in registration of their products and therefore instituted several activities which included further review of guidelines.
“The aim is to remove critical bottlenecks and bureaucratic red tapes that hinder the smooth registration and regulatory activities of MSMEs.”
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