The need to site the south-south entrepreneurship development centre in Bayelsa State

by Gibson Gbalimori

One of the main strategies of the administration of Governor Timipre Sylva of Bayelsa State is to build the human capacity level of the people to achieve entrepreneurial development. This is to tackle issues of unemployment, industrial development, wealth creation, capacity enhancement as well as addressing poverty alleviation.
Entrepreneurship development no doubt thrives on opportunities WHICH IF PROVIDED will translate into improvement of the overall quality of life and check the current security situation across the country.
Entrepreneurial development should therefore involve the provision of infrastructure and training centres to achieve desired results. In most industrialized countries, economic growth is engineered mainly by micro and medium enterprises working as catalysts for employment.
Their contribution leads to improved state income from taxation, general well-being and sustainable development. Statistics reveal that micro-small and medium scale enterprises employ more than 80% of people in most developed countries alongside the organized private sector. The Central Bank of Nigeria which drives the nation’s economy came up with an intervention policy to address the poverty level by developing a template for entrepreneurial programme.

Some years ago, the apex bank undertook a study of the issue with a report that over fifty percent of Nigerians live below the poverty line owing to lack of access to credit, poor infrastructure, low productive technologies and low capacity to manage resources. This necessitated the decision to establish Entrepreneurship Development Centres in the six geopolitical zones by the CBN.
In the first phase, only three Centres were established in Onitsha, Kano and Lagos as pilot schemes. Arrangements to establish the other three to cover North-Central, North-East and the South-South have reached advanced stage. Bayelsa State offers a wide potential for accessing the strategic markets in the South-South especially where the issue of Entrepreneurship Development is concerned.
With a high rate of unemployment and low dependency ratio, more than two-thirds of residents in the state are involved in a variety of agricultural trade. Bayelsa being the second largest oil producing State in Nigeria also generates high income from oil and gas with many opportunities for businesses and investors. Indeed, the existing regulatory environment utilizes microcredit and financial linkages to drive economic empowerment and sustainable development necessary for job creation, youth employment and improved security.
This formed the basis for the establishment of the State Microcredit Administration Agency in 2009 by Governor Timipre Sylva. The Agency aims at establishing and maintains contact with the Federal Government, the Central Bank of Nigeria as well as relevant international agencies to facilitate entrepreneurship for the alleviation of poverty.
The government through the Micro Credit Agency had demonstrated enough commitment to host the South-South centre of the Entrepreneurship Development Centre. To complement the centre, the administration is building two skills vocational acquisition centres in Elebele, Ogbia and Asuama in KOlokuma/OPokuma Local Government Areas.

Since Entrepreneurial Development thrives on opportunities and rich natural resource base, Bayelsa State offers opportunities waiting to be exploited.
The Government will also provide basic facilities such as accessible roads, potable water and electricity for the effective take-off of the centre. Also, the sitting of the centre in the state will answer the call for more federal presence. The State Government is prepared to provide all necessary logistics and financial support to the CBN and enact appropriate legislations for its effective take-off.
As the fourth largest economy in the federation, the state possesses the financial ability to sustain the centre and will ensure collaboration with the Niger Delta Development Commission, the Ministry of Niger Delta Affairs and other developmental partners.
In addition the State Microcredit Administration Agency is capable of mobilizing additional input and provide support for the Centre to serve as an instrument for youth empowerment and overall South- South economic development agenda. The government and the people of Bayelsa state are ready to host the Central Bank of Nigeria facilitated Entrepreneurship development centre for the South- South region.

Source: FRCN daily commentary