Vice President Yemi Osinbajo has commended the Seventh-day Adventist Church and Babcock University for supporting the drive for quality education in Nigeria.
His call came as he gave a special address at the University’s 33rd inaugural lecture, August 8, 2021.
Professor Osinbajo, who came as a special guest and former classmate of the lecturer, Prof. Oluseyi Oduyoye, anchored his commendation on the church’s supportive role in building a rich workforce in Nigeria through its investments in Babcock University.
“Let me commend the Seventh-day Adventist Church for investments it has made in developing quality education in Nigeria. This is the direction many religious organisations must follow. The real work of ministry is to reach out especially to those who are unable to afford quality education.”
He also called on the state government to support the Federal Government’s development efforts for the survival of Small and Medium Scale Enterprises SMEs in Nigeria.
While sharing the Federal Government’s efforts to boost economic growth through providing SMEs with seed investments, grants and incentives for expanding clusters of trade in Benue and Anambra State, he said state support would ensure these efforts go a long way.
He revealed that the Africa Development Bank, AfDB has offered to support the Federal Government’s SME growth with the sum of $500 million to complement its current effort.
“The economic future of our country is dependent on small businesses. SMEs employ the largest population of the workforce and the State government support is very critical. Those businesses bring hope, jobs and support for many families.”
Meanwhile, Oduyoye, a Professor of Business Administration, has called on the Federal Government to support small businesses devastated by the Covid-19 pandemic.
He stated this while delivering the Babcock University 33rd inaugural lecture at the Babcock Business School main auditorium.
Delivering his lecture, “From the Small Business to Big Business: A Future with Little Hope”, Oduyoye noted that many small businesses were unlikely to recover from losses incurred during the pandemic lockdown if government did not come to their aid.
He specifically called on the Central Bank of Nigeria to assist the small businesses from the much publicised N50 billion support fund set aside for distribution to businesses in need of lifeline for sustainability and growth.
Aside this, he urged deposit banks and insurance companies to strengthen the SMEs through renegotiation of contract terms and affordable minimal premiums following the losses and economic setbacks occasioned by the Covid-19 pandemic.
Oduyoye noted that small businesses could become big companies if they were fortified with values of integrity, customer focus, openness and the fear of God.
“Starting small but having the eyes on the big picture should always be the focus of the typical small business owner,” he stated.
He also recommended networking with more experienced individuals in the industry to gain the needed leverage for growth.
Oduyoye, who thanked the leadership of the Seventh-day Adventist Church, his family and the Ilishan Development Association for making him what he had become, attributed the collapse of many businesses to the lack of integrity and the absence of the fear of God.
“Anything done without integrity cannot stand,” he said. “The lack of integrity and the love for quick money and shady deals is the bane of long-term growth of these small businesses.”
He lamented the fact that internet fraud popularly known as Yahoo-yahoo has taken over while integrity has been relegated to the background causing the nation to “bleed.”
“For aspiring small business owners who have the ambition of becoming big players in the future, the qualities of integrity and customer satisfaction are key attributes of success,” he said.
*Dr. Joshua Suleiman,
Director of Marketing & Communication,
Babcock University, Ilishan-Remo,
Ogun State
