By Ekemini James
As renowned entrepreneur and philanthropist, Richard Branson assert that, ‘entrepreneurship is the engine of economic growth and innovation, and human capital is the fuel that powers it’.
This assertion prompts the need to foster a culture of entrepreneurship and human capital development among the youth as demonstrated by the Governor of Akwa Ibom State, Pastor Umo Eno.
The Ibom Leadership Development Centre (Ibom-LED) and its Entrepreneurship Accelerator Programme (EAP) are significant initiatives put in place by the Governor to empower and equip aspiring entrepreneurs with the skills and knowledge needed to establish and sustain successful businesses. With the recent graduation of the first batch of 400 trainees and the ongoing admission of another batch this January, it is evident that the Ibom-LED programme holds numerous benefits and will have a profound impact on the economy of Akwa Ibom state.
One of the key significance of the programme is its deliberate effort to foster entrepreneurship and create a culture of self-reliance among citizens of the State. By investing in the training and developing aspiring entrepreneurs, Governor Umo Eno is empowering individuals to take charge of their own economic destinies and contribute to the growth and development of the state. This focus on entrepreneurship is crucial for economic diversification, as it encourages innovation, job creation, and ultimately leads to sustainable economic development.
The profitability of the training programme is another notable significance of the Ibom-LED initiative. Unlike many other entrepreneurship training programs, the Ibom-LED programme goes beyond knowledge acquisition to offering a grant of N500,000 as exit strategy to each participant upon completion. The financial support acts as a seed capital for the trainees, enabling them to kick-start their businesses and overcome some of the initial financial hurdles that often hinder the success of start-ups.
This gesture extended by Governor Umo Eno, demonstrates his commitment to not only training entrepreneurs but also ensuring that they have the necessary resources to excel in their chosen ventures.
Notably, the Ibom-LED programme plays a vital role in addressing the issue of unemployment in Akwa Ibom State. With many graduates entering the job market each year, the availability of employment opportunities often falls short. When individuals are equipped with entrepreneurial skills and provided with financial support, they will be self-reliant and will create their own businesses and become self-employed. This aside reducing the burden on the government regarding job creation, also contributes to poverty reduction and the overall improvement of the standard of living for individuals and communities in Akwa Ibom State.
In addition to the economic benefits, the Ibom-LED programme also has a significant social impact. By promoting entrepreneurship and providing opportunities for individuals to become self-reliant, it fosters a sense of empowerment and independence among the people of Akwa Ibom State. This, in turn, leads to increased self-esteem, a sense of purpose, and improved overall well-being.
Also, Governor Umo Eno has through the Rural Access and Agricultural Marketing Project (RAAMP) stimulated economic activities and improve the quality of life in rural areas. The acquisition of 50 hectares of land across 31 Local Government Areas for agricultural purposes underscores his commitment to food security and agro-allied enterprises, which sums up to human capital as well as economic development.
With the accumulative execution of initiatives that hold far-reaching economic benefits for the state and its people, it is valid to say that Governor Umo Eno’s commitment to fostering sustainable economic development is reassuring, and with an unyielding focus in achieving the aspirations of the ARISE Agenda, he will continue to pave way for continued growth and prosperity in the state.
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Transforming Akwa Ibom Economy: The Impact of Governor Umo Eno’s Initiatives
