Entrepreneurs and small enterprise operators who converged on Akure, the Ondo State capital yesterday have lamented the heavy toll erratic energy provide is having on their companies.
They spoke on the 2026 Ondo State Entrepreneurs Summit held on the Dome, Akure, emphasising that funding and insufficient electrical energy remained among the sensible challenges affecting their capacity to develop their companies.
In his remarks, a shoemaker, Adekola Solomon, mentioned lack of funds to amass obligatory tools remained a significant problem.
“One main problem we entrepreneurs face is funding, particularly cash to get the required tools to make our product,” he mentioned, urging the federal government to supply grants or interest-free loans to enterprise house owners.
For clothier, Aanuoluwapo Ogunduyile, insufficient electrical energy provide had elevated the price of working her enterprise, forcing her to spend a major a part of her earnings on petrol to energy her industrial machine.
“The main problem I face as a enterprise proprietor is energy provide. As a result of there isn’t any satisfactory energy, I’ve to spend extra on gas to energy my industrial machine and this has elevated my expenditure,” she mentioned.
Ogunduyile mentioned the current enhance in gas costs had worsened the scenario, including that secure electrical energy would cut back the quantity entrepreneurs spend on powering their companies.
in his tackle, an entrepreneurship skilled and particular adviser to the Ondo State Governor on Entrepreneurship, Innovation and Funding, Dr Sumi Good Francis, urged entrepreneurs to cease wishing for a greater enterprise setting and begin taking sensible steps to show their concepts into viable companies.
Francis mentioned, “The issue now we have is that folks can not execute concepts. Execution is the principal factor,” he mentioned.
He defined execution with the formulation “E=C×D×V÷R²”, representing readability, self-discipline and velocity towards resistance, stressing that entrepreneurs have to be clear about their concepts, disciplined in implementing them and keen to maneuver rapidly regardless of challenges.
Francis mentioned Nigerians had continued to want for a greater nation with out taking sufficient sensible motion, urging entrepreneurs to develop the willpower to pursue their concepts.
“We’ve got been wishing Nigeria might be nice. We maintain wishing, however we’re not doing something. The spirit to struggle isn’t there. Begin changing into doers; when there’s a will, there’s a means,” he mentioned.
He urged the entrepreneurs to not permit challenges to suppress their ambitions, stressing that the power to execute concepts was essential to constructing sustainable companies.
Responding to the considerations, Governor Fortunate Aiyedatiwa mentioned his administration was targeted on creating an setting the place entrepreneurs might determine and entry alternatives quite than changing into depending on authorities.
Aiyedatiwa mentioned entrepreneurship was not merely about beginning a enterprise, however about figuring out wants, adopting know-how and constructing enterprises able to surviving altering market circumstances.
He introduced that 20 entrepreneurs who have been recognised on the summit would obtain help, funding and mentorship to spice up their companies.
The governor additionally introduced the launch of the “Fortunate Mild Initiative”, designed to supply energy for 1,000 entrepreneurs throughout the 18 native authorities areas of the state.
As well as, Aiyedatiwa introduced plans to buy Dangote Refinery shares for 500 youths, whereas urging beneficiaries of the assorted interventions to make use of the alternatives responsibly, construct sustainable companies, pay taxes and mentor others.
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