The Lagos Chamber of Commerce and Industry (LCCI) has identified gap in vocational skill acquisition among women and other marginalised groups as one of the factors limiting growth of entrepreneurship in the country.
The Chamber noted that groups within the marginalised circle like women and persons with disability lacked basic vocational skills and income-generation opportunities.
Speaking at the 5th Commerce and Industry Correspondents Association of Nigeria (CICAN) Gala Nite and Award 2015, the Director-General of the LCCI, Muda Lawal said government has the responsibility to foster partnership and cooperation with the private sector for the purpose of boosting economic development.
Lawal said government is in position to provide innovative cedit schemes, create community investment and trust and co-operatives that undertake economic activity in poor and rural areas.
He said further that the two tiers of government should also promote teaching of entrepreneurial skills in schools ajd colleges, use mentoring as a means of business skill development to encourage skill sharing and long-term personal relationship between mentor and mentee.
Furthermore, Lawal pointed out that educating informal traders and community members to enhance their business management skills and financial literacy are key to promote small and medium scale businesses.
According to him, skill and human capacity issues have been major challenges factors to entrepreneurship development in Nigeria.
He said business operators in Nigeria have had to contend with harsh business environment, including infrastructure lapses, policy regulatory shortcomings, access and cost of funds.
In addition, Nigerian entrepreneurs have also faced macroeconomic challenges which include issues like foreign exchange, interest rate and inflation, where as multiple taxation has not been properly addressed, as well as inadequate incentives for entrepreneurial development.
In his opening speech, Chairman of CICAN, Toba Agboola called on government to leverage on the potentials in the development of entrepreneurs to improve quality of lives of the people.
“We want to therefore urge our governments at all levels to show more commitment to providing our youths with decent employment, enabling environment for wealth creation and an end to general hopelessness” he said.
