Segun Atanda/
President Bola Ahmed Tinubu’s recent appointment of a high-profile team of successful entrepreneurs and academics to address Nigeria’s economic challenges has drawn mixed reactions.
While the selection has been praised for including some of the nation’s top business minds, a critical analysis by Kayode Aladesuyi, CEO of MYai Robotics, suggests a need for reconsideration.
In a detailed critique released on July 9, 2024, Aladesuyi argues that the chosen individuals, despite their impressive track records, are “entrepreneurs of opportunity” rather than “entrepreneurs of innovation.”
According to Aladesuyi, Nigeria currently requires the latter to navigate its immediate economic crisis effectively.
Aladesuyi explains that while entrepreneurs of opportunity excel in leveraging existing market conditions for profit, entrepreneurs of innovation are adept at problem-solving and creating opportunities from challenges—skills that are crucial for addressing Nigeria’s core economic issues. He highlights figures such as Bosun Tijani, the founders of Flutterwave and PayStack, and other grassroots innovators as the type of problem-solvers needed at this juncture.
“Nigeria needs entrepreneurs who can build mountains out of molehills and make lemonade from lemons without substantial resources,” Aladesuyi stated. He emphasizes that the current economic situation demands innovative solutions over capital-driven approaches.
Aladesuyi concludes by urging President Tinubu to reconsider the composition of his economic team to include more problem-solving innovators. He believes this shift is essential for achieving stable economic recovery before leveraging opportunities for broader economic growth.
The debate continues as Nigeria looks towards effective strategies for overcoming its economic challenges.
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