The Answer to Poverty Eradication

THE SECRET WEAPON TO FIGHTING POVERTY AND CREATING NATIONAL WEALTH MAY JUST BE UNDER OUR NOSE...

While we are busy looking for all manner of Brenton Woods answers to the poverty question in Nigeria, we may be missing the local answer. Ever wondered how business hubs like Alaba Electronic Market, Aspamba, Computer Village, Ladipo Spare Parts Market and others in Aba and Nnewi grew despite the collosal economic loss suffered by the Igbo after the Civil War?

IGBO BUSINESS INCUBATION MODEL OFFERS NIGERIA AN OPPORTUNITY TO BUILD LARGE CACHE OF SME'S THAT WILL LEAD GROWTH AND REDUCE POVERTY.

Like what the Kibbutz did for the Israeli after the Holocaust, helping to rebuild and consolidate Jewish wealth through a Communal Business Incubation Model. Like what the smashing of the Iron Rice Bowl did for the Chinese following the great starvation, helping to reorder the priorities of China by build a large cache of SME's which saw the beginning of Economic transformation - starting in 1978 and culminating in China becoming an economic powerhouse. After the Civil War, the Igbo silently developed a Business Apprenticeship / Incubation Model which has seen them develop business and industrial hubs without the help of government and with little involvement from the formal financial system.

WE NEED TO UNDER-STUDY THE IGBO BUSINESS APPRENTICESHIP SCHEME AND FORMALISED THE MODEL ON A NATIONAL LEVEL.

No doubt, there are cultural parameters to the Igbo business incubation model which we may not be able to immediately replicate under other cultural contexts, but with a thorough iteration of the Igbo Apprenticeship and Business Incubation process, we may begin to teach a step by step of how to learn a trade, serve apprenticeship under a master who will after the requisite number of years be expected to provide seed capital for starting you up on a similar venture. Further more hubs and clusters of these businesses can be established with government providing the right policy environment and access to finance and new market to help grow value.

BEYOND THE IGBO APPRENTICESHIP SCHEME THERE IS THE GUILD SYSTEM IN SOUTH WEST OF NIGERIA

The South West has something similar with established guild systems for blue-collar jobs like Wielding, Vulcanizing, Tailoring, Auto-Mechanic, Black Smiting, Brick-laying, Commodities Trade and a host of others. These guild system can be upgraded and supported by government in order to help bring back lacking skills in these areas; and by so doing build a base of support skills for construction, automobile and industrial concerns.

THE WAY TO WEALTH IS ABOUT LOOKING INWARDS

The Jews and Chinese have proved that originality and localisation are initial steps to wealth creation and poverty eradication. It's time for Nigeria to begin thinking in this direction.