Entrepreneurial Ecosystem: Perspective of Omuma LGA, Rivers State. By Nweke, Emmanuel Onyekachi. PhD

Entrepreneurial Ecosystem: Perspective of Omuma LGA, Rivers State being a Paper Presented by Nweke, Emmanuel Onyekachi PhD (Fcai/Acia/Fabs/Acipm/Mni) on the Occasion of End of Year Seminar Organized by Omuma Youth for Christ Held at ACI Hall, Eberi, Omuma Rivers State on the 27th December, 2022 

Protocol

Preamble

First I thank you for finding me worthy to serve in this capacity.  I do this with a sense of responsibility and patriotism to my fatherland. Omuma Youth have continued to stir uniqueness in the State space.  Your voluntary efforts are hereby commended and I wish you keep it up.  Your organization has contributed to growing knowledge base of Omuma youth and other demographics across the LGA as well as leading them to better morals in  the light of Christianity.  Chineke gozie nu.  Amen.

Introduction

Omuma can be said to be  a city in the centre of a virgin forest.  Virgin Forest is used in the sense of  unharnessed resources; especially in agriculture.  Entrepreneurship has become a common language in the Nigerian terrain.  It has even added to the lexicon pedigree of most Nigerian Politicians, viz, youth empowerment, women empowerment, self reliance, etc.  Having introduced a note of hint, let me quickly define the major concepts.  Entrepreneurship refers to the act of carrying out business by self through innovation or commerce.  Entrepreneurship is extremely important to deciding the GDP (Gross domestic product) of any region. Business venture includes creation and overseeing of little and medium scale organizations. With the approach and quick improvements in area of innovation and the powers of globalization, world has turned into a worldwide town, portrayed by a touchy development in worldwide business and rivalry.  

An entrepreneurial ecosystem or entrepreneurship ecosystem is the social and economic environment affecting the local or regional entrepreneurship. Entrepreneurial ecosystems are defined as a set of interdependent actors and factors coordinated in such a way that they enable productive entrepreneurship within a particular territory. The entrepreneurial ecosystem often narrows entrepreneurship down to high-growth startups or scaleups, claiming that this type of entrepreneurship is an important source of innovation, productive growth, and employment.  In simpler terms, entrepreneurial ecosystem deals with how a region manages business growth or commercial innovation of its people. This paper has made effort to discuss the seven major elements of entrepreneurial ecosystem around the Omuma experience.  

Elements of Entrepreneurial Ecosystem 

Entrepreneurial ecosystem has nine elements or framework conditions in every territory or country, playing a role of catalyst for the entrepreneurial activities. These are 1) entrepreneurial finance, 2) government policy, 3) government entrepreneurship programs,  4) research & development transfer,  5) market openness, 6) physical infrastructure, and 7) cultural & social norms  (Alvani, 2005).

Entrepreneurial Finance

Entrepreneurial ecosystem does not operate in isolation of the government of a region.  For regions to grow, government must set aside finance to encourage businesses.  For example, we could have Omuma LGA (government) partnering with investors, in which the local government will provide in shared equity.  The purported moribund oil mill along Umuokwa/Umudu road could be a source of government revenue and employment opportunity for our teeming youth.  The timbering tendencies around our Aririamri axis could be revamped into hew own and replant trade.  There could be other examples within the Omuma spectrum.  

Government Policy

Government policy refers to the rules the government provides to guide business operations within its jurisdiction. Omuma could have a policy partnership with State Government or even Federal in terms of harvesting Omuma agro or otherwise resources.  There could be a rural-urban business policy.  For example we could have Omuma garri or foo foo shops in Port Harcourt, Aba, Onitsha with shared tax policy on business, which may give 80/20 ratio - Eighty to Omuma and twenty to the city of business. Goods trucking, warehousing could be managed by the government.  Employee shared policy may rest in favour of Omuma citizens.  There could be apiary farm (bee farming) around aririamri in which case tax system could be enacted as rates by legislative arm in the LGA.  

Research and Development Transfer

It is now a global village.  Researchers in the areas of convenient raw materials, sponsored by government may come in the areas of fish farming, piggery, cattle rearing, others.  In partnership with the State  and Federal Government, international partners in like manners as Finland, Iceland may rear fish in the natural habitat of our natural waters.  The cattle farmers around Umuokpurukpu, Eberi could be funded to enlarge production.  Cattle ranging as practiced in Argentina (the highest exporter of beef meat in the world) could start in Omuma, Nigeria. Government can sponsor Omuma sons and daughters in the Agric Studies to embark on researches of affordable cassava stems and other agro stuffs.  Omuma could have a cassava farm to supply the Rivers State Government/Shell Cassava Plant in Oyigbo, Rivers State.  There could also be a branch of such plant, at least in mini form in Omuma Local Government. 

Government Entrepreneurship Programmes

Omuma is blessed with intelligent youth and other population demographics.  Our area could have entrepreneurship programmes to enhance business growth or innovation.  It is worth commending the Skill Acquisition Programme recently carried out by the Omuma local government authority.  However, so many other government or its agencies have done likely programmes but it failed in the hand of the individuals.  The reason is not far fetched. Nigeria macro economic environment has not proven to be business conducive.  There should be Business and Growth Monitoring and Mentoring Committee by every government, to monitor and mentor young business entrepreneurs. 

Physical Infrastructure

Government alone may never provide infrastructure due to lean resources.  Private individuals, local or foreign investors could be encouraged raise infrastructure.  Power or electricity issues should be lifted from the exclusive list of legislation by the coming legislators of 2023.  If the people of Omuma are allowed to generate their own power and sell by way of partnering with investors, this will encourage business. The stretch of Umuakali road to Eberi junction requires immediate attention and government operators may need to pressure the Rivers State government some more, to fix the road.   It will enable transportation of our agro goods via that route to our Abia neighbours and beyond.  

Cultural and Social Norms

Culture and norm is a thing of a people.  How have we grown music in our local language? Has government sponsored any of such?  This could be a call to look into that direction.  Egwu adima and nwokorobo could be fine-tuned into tourist escalation.  Sports is gradually becoming a global culture and Omuma has got some talents.  The annual event of sports in the LGA is commendable but requires talents harvesting into our national team or local leagues.  Until we achieve this feat, we may regard our sports festivals as fun.  Sports is a huge business and lets be part of it.  

Market Openness 

Markets, abattoirs are major constitutionally allowed rates or incomes to local governments in Nigeria. Omuma does not own any abattoir.  The river boundary between Omuma and Etche could serve as one.  Instead of traveling to Aba to buy meat or other proteins, Etche and Omuma could have a trade centre of such within vicinity.  The operators of such business may pay tax to the government to raise revenue.  There could be other chain businesses to the unemployed.  Our markets could have a face-lift and rates paid to the local government.  Our transport system could be revamped into partnership, in a way that transportation may not only ply to Port Harcourt but other parts of the country.  

Conclusion

Omuma stands the chance of being one of the richest LGAs in the state if business policies are married into governance.  Omuma is relatively one of the most peaceful local governments in Rivers State and by extension, Nigeria.  Let us utilize our abundant opportunities and create wealth.

Merry Christmas, my people

Nde Omuma nu chikaa