Entrepreneur: Enabling environment will unlock North’s economy

Yusuf Babatunde Abdullahi, a prominent Kwara-based entrepreneur, has issued a strong call to action for Nigerian governments at all levels, emphasizing the urgent need to cultivate an enabling environment for business to truly unlock the vast economic potential of Northern Nigeria. Speaking exclusively to Arewa PUNCH, Abdullahi, also known as “Gamji,” articulated that Nigeria's aspirations of becoming an industrial powerhouse on the continent are currently hampered by fragmented policies and a lack of coordinated, multi-layered strategies.

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Our problem is not the absence of resources. Nigeria is richly endowed with both human and natural resources. The real issue is the inability to convert these into productivity, wealth, and public welfare.

Abdullahi, whose ideological alignment with the legacy of Ahmadu Bello informs his business approach, pointedly stated that Nigeria's economic woes stem not from a deficit of resources, but from profound structural inefficiencies. He highlighted the critical challenge of converting the nation's abundant human and natural wealth into tangible productivity, wealth generation, and improved public welfare. His vision places small and medium-scale enterprises (SMEs) at the heart of the nation's industrialization agenda, recognizing them as indispensable engines for job creation and economic expansion.

To achieve this, Abdullahi advocates for targeted reforms, including enhanced access to affordable financing, strategic tax incentives, and robust regulatory support for businesses. He specifically mentioned the need for accessible start-up capital, low-interest loans with manageable repayment plans, tax holidays, simplified taxation systems, and duty-free importation of essential manufacturing equipment. Furthermore, he underscored the detrimental impact of poor infrastructure, particularly erratic power supply and inadequate road networks, on industrial growth, asserting that fixing these basic amenities would catalyze remarkable business expansion and economic contribution.

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If basic infrastructure is fixed, the rate at which businesses will grow and contribute to the economy will be remarkable.

Reflecting on his own entrepreneurial journey with investments spanning oil and gas, real estate, and retail, Abdullahi revealed a deep-seated desire to stimulate local economic development and inspire the next generation of Nigerian entrepreneurs. He stressed that business leaders must embrace social responsibility, citing his own initiatives in providing scholarships, start-up funding, and community development projects as a testament to his commitment to leaving a positive legacy. His message to young Nigerians is one of hope, insisting that with the right policies and support systems, a transformative wave of entrepreneurship can indeed reshape the nation's economy.

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Success in business should go hand-in-hand with community development. That is the legacy I want to leave behind.