N-POWER – NEXIT TRAINING PROGRAM 15th – 19th March 2022

N-POWER – NEXIT TRAINING PROGRAM 15th – 19th March 2022

Introduction
The current administration of President Muhammadu Buhari created N-Power on June 8, 2016 to address the unemployment issue amongst the Nigerian youth as a measure towards addressing social development deficit in the country. This explains why the motto of the scheme “Empowering Nigerian Youth for Posterity”. The scheme was created under the newly established Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development (FM-HADMSD) supervised by Hon. Sadiya Umar Faruq.

However, the fact that no government can successfully engage all employable youth in a country necessitated this loan offer and the orientation on how to invest them and become an entrepreneur.

About N-Power Program

The N-Power scheme was designed to offer temporary employment to Nigerian youths

To gain experience for incorporation into the public service

To enable them stand on their own

To provide a structure for a large scale and relevant skills acquisition and development

To ensure each participant learn and practice most of what is necessary to find or create work.

ENTREPRENEURSHIP

Meaning of entrepreneurship

 Who is an entrepreneur?

An entrepreneur is a person who takes the risk of investing his money, time, passion in development of a business or several business enterprises.

He is any individual who starts a new business venture or a company; he arranges the business deals and takes the risk in order to make profit or create social change.

Importance of money to an entrepreneur

Entrepreneurship diagramed

MSMEs AS VIABLE OPTIONS

MSMEs represent 96% of Businesses in Nigeria

It contributes 75% of National Employment

NBS/SMEDAN survey 2014 – There are 37.06m MSMEs in Nigeria (99% are Micro)

Studies also show that less than 20% of MSME manufacturers export

Growth in the sector is directly correlated to growth in the economy as whole.

Importance of MSMEs to the Nigerian economy

Job creation

Income distribution

Poverty reduction

Increase in investment

Utilization of local resources.

Categorizing MSMEs in Nigeria

IMPORTANT FACTS TO NOTE AS AN ENTREPRENEUR

Not every participant seeking employment will get, it is therefore important for participant to have knowledge of alternative forms of income which can come from pursing entrepreneurship

As an entrepreneur:

You must have a vision

You must plan strategically

You must apply yourself with determination and passion

until you reach your desired goal

Types of entrepreneurships

The Builder - Believes in building empire and infrastructure

The Innovator - Starts a business because of his passion for innovation

The Specialist - Packages skill/expertise into viable business plan

The Opportunist - Sees an existing gap and provide a business to service that gap,

Assignment

Give some examples of Nigerian entrepreneurs and classify them.

What are the differences between an Entrepreneur and an Employee?

Main barriers to starting a new business:

Money

Fear of the unknown

Lack of support

Lack of knowledge

Lack of determination

Lack of staying power.

 

HANDICAPS

THERE are few who have reached the top who have not been handicapped.

Obstacles stand in the way of the man who climbs.

Never lose heart because the first efforts fail.

Go back and find the reason.

Pick up the wreckage of old failures and build them into success.

You can do it.

Never lose heart because the first efforts fail.

Go back and find the reason.

Pick up the wreckage of old failures and build them into success.

You can do it.

DON'T say, "If things were different, I would do something."

Do something with them as they are. Facing your life as it is now and winning is the object.

 

 If you have any questions or contributions, drop your comments below.