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Nigerians are Natural Entrepreneurs, Says Mordi

Vanguard
Yinka Kolawole
8 June 2007

The Executive Director, Investment Banking & Asset Management, United Bank for Africa Plc (UBA), Mr. Chika Mordi, has described Nigerians as natural entrepreneurs who are not afraid to venture into private business.

Mordi stated this Tuesday, in Lagos, while flagging off the maiden edition of the UBA Business Booster Series (U-Business) initiated by the bank to enhance the capacity of small and medium entrepreneurs (SMEs) to contribute the nation's economic growth. He said that Nigeria has seen many businesses prosper, noting however, that it is sad that private businesses hardly ever extend beyond one generation. The theme of the programme is "Growing your business a boost in a growing economy".

He said that UBA decided to embark on the business booster series as its own quota to the development of the SMEs sector, in recognition of its importance as the engine of growth in any economy. The UBA executive director reckoned that the 5 percent of profit which his bank devotes to corporate social responsibility (CSR) through its UBA Foundation, is like a drop in the ocean, noting that this was why the bank decided to empower people to own and grow their own businesses through the U-Business.

"The only way we can have true prosperity and safety is when everyone in the society is prospering and this what UBA is doing. UBA is very committed to growing Nigeria. We serve 5 million Nigerians, but we hope to double that figure going forward," he stated.

Also speaking at the event, Mr. Dimeji Salaudeen, Associate Director, Professional Services, KPMG, commended the UBA initiative, describing it as a private and voluntary effort to boost the SMEs sector. In his paper on "Growth/Business Opportunities for SMEs in Nigeria", Salaudeen noted that SMEs are crucial to the economic growth of any economy , because they are vehicles for job creation, mechanism for income re-distribution and play a major role in diversifying the economic base.

Copyright © 2007 Vanguard

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May we be strengthened with the ability, willingness and capabilities to be good ambassadors of Nigeria contributing to its uplifting, rather than its detriment. - Cxsm

LadyK · LoyalBee Joined: 06 Jun 2007 Posts: 69

We need a thread on Nigerian businesses in the states. I visited a store last week in DC that was owned by a Nigerian. I can post the details in our thread.

LadyK · LoyalBee Joined: 06 Jun 2007 Posts: 69

Was this thread ever started????

admin · Site Admin Joined: 25 May 2007 Posts: 5404