In a country where over 500,000 students graduate annually and only a quarter of them end up getting formal employment, entrepreneurship becomes an attractive option for many. Entrepreneurship is however not taught in our universities, so it does not come as a total surprise when most businesses fail within the first two years of their existence. The reasons for business failure vary, but the most prominent include a lack of finance and lack of requisite knowledge on how businesses work.
Interestingly the government is a key player in the sector described above, but over time it has not been able to make sufficient impact. What this shows is that the government cannot do it alone, and more help is needed from the private sector, individuals, and the development sector, to proffer working solutions.
Biodun and Ibikunle Foundation has stepped up to make a difference and provide solutions to some of the economic challenges facing Nigerians.
