Chief Tunde Fanimokun, a former Permanent Secretary in Lagos State and Chairman of DSE Foundation, has identified seven major challenges inhibiting the advancement of Nigeria as a nation and as the greatest secret of the world solution.
He disclosed this at a lecture delivered at the Folawiyo Entrepreneurship Centre’s maiden Annual Lecture Model Series and Business Idea Competition, titled: “Entrepreneurship: The Central Pillar of Accelerated Sustainable Development in Nigeria”, held at the Yusuf Grillo Auditorium of Yaba College of Technology.
Chief Fanimokun opined that mismanagement of abundance, negligence of agriculture, import orientation, uncoordinated ecosystem, oil doom instead of oil boom since 1958 in Oloibiri and ferocious escalating youth unemployment are the major constraints facing the country aside from the problem of leadership.
According to him, “Inexhaustible abundance is the natural gift of the Almighty who created absolutely nothing in vain in the entire Universe and consequently, visionary leadership is the key to sustainable development at each and every level of environment worldwide”.
Entrepreneurship, the chairman, DSE Foundation said, is a distinct field in management studies and has become a compulsory subject at the undergraduate level, virtually at all universities in Nigeria.
Fanimokun said that the recent upsurge in efforts to promote entrepreneurship is associated with the government’s initiative to set up the Enterprise Development Services, which was partly funded by the World Bank.
Using the former governor of Lagos State, the late Alhaji Lateef Kayode Jakande’s (LKJ) phenomenon in Lagos State in the 1980s and at the Federal Ministry of Works and Housing in the 1990s as a case study is being presented as documentary evidence for entrepreneurial studies within the public administration in Nigeria.
The former Permanent Secretary added that the private sector, both in theory and practice, invariably is closely associated only with business ventures and that the outdated notion and disposition are understandable because the public sector is scarcely linked with innovation-entrepreneurship.
“The case study of LKJ in the history of Nigerian public administration and as a political leader in government reveals some novel findings of great relevance. It is observed for instance, that his management profile, his orientation and his remarkable accomplishments provide suitable materials for entrepreneurial studies,” Fanimokun explained.
On Chief Yinka Iyanda Folawiyo, the speaker described him as a successful entrepreneur, stating “It is amazing how an individual as a student abroad could opt for entrepreneurship ventures and ultimately back home in Nigeria proceeded to establish, expand and consolidate a wide range of business venture in banking and finance, real estate, food industry, oil & gas, shipping, fishing and shrimps, trawling, as well as, commodity trading”.
The chairman of the governing council of Yaba College of Technology, who is also the chairman of the lecture, Prof. Funsho Afolabi, declared that the Folawiyo Entrepreneurship Centre Annual Lecture Series is a launchpad for new ideas, bold ventures, and future leaders.
He said that it carries the legacy of a man whose name is synonymous with resilience, enterprise, and vision, Chief Wahab Iyanda Folawiyo, the founding figure whose entrepreneurial spirit continues to inspire generations,” Afolabi said.
Dr. Engr. Ibraheem Abdul, the Rector of Yaba College of Technology, in his welcome address, averred that the annual lecture series would serve not only as a tribute but also as a dynamic platform to inspire, educate, and nurture the next generation of visionary entrepreneurs who, like Chief Folawiyo, uphold the values of integrity, innovation, and impactful leadership.
Dr. Abdul said that Chief Folawiyo was more than a successful businessman but a visionary who firmly believed in the transformative power of enterprise and as the founding father of the Folawiyo Group, built a formidable business empire spanning oil and gas, shipping, real estate, agriculture, and international trade.
“His legacy stands as a striking symbol that Nigerian enterprises, founded on discipline and driven by innovation, can excel on the global stage,” he expatiated.
