2016 LITF Essay Competition and the search for future entrepreneurs

With the dusts raised at the 2016 edition of the Lagos International Trade Fair (LITF), organized by the Lagos Chamber of Commerce and Industry (LCCI), gradually settling, and  memories of the event dimming by the day, one thing that has, however, failed to recline in the consciousness of teeming participants at the 10-day event, was the essay competition among secondary schools, introduced by the organisers to discover future entrepreneurs and spice up the event.

At the commencement of the Fair, the organisers were unequivocal about their mission for the edition of the Fair which was: to position the nation’s economy for diversification and sustainable growth.

According to them, since over-reliance on a mono product, such as oil, in Nigeria’s case, had begun to take its toll on the economy, with the general consensus, especially among Nigerians being diversification of the economy, there was no better time than that period, therefore, to organise a trade exhibition, with a focus on Positioning the Nigerian Economy for Diversification and Sustainable Growth.

Besides revealing some potential in the area of entrepreneurship skill, it would also go a long way in meeting the aspirations of stakeholders, the organisers had argued.

“As you are aware, the 2016 Lagos International Trade Fair is specially packaged to meet the aspirations and interests of investors, government agencies, foreign business partners and government delegates,” the President of the Chamber, Dr. (Mrs) Nike Akande, had said while declaring open the 10-day event in November, last year.

Interestingly, the LCCI boss had also taken the opportunity of the occasion to stress the fact that for sustainable diversification of the economy to be achieved, it had become imperative to begin to nurture a new set of entrepreneurs, right from the cradle, noting that the introduction of an essay competition among secondary schools in the state, was meant to achieve just that.

Therefore, as a way of marking its 30th year of hosting the trade fair, the essay competition, among secondary schools, represents one of the numerous innovations, designed to involve stakeholders and ensure that the Fair made the desired impact on the individuals and businesses in the country.

According to the Chairman, Trade Promotion Board of the Lagos Chamber of Commerce and Industry (LCCI), Mr Sola Oyetayo, the essay competition was being introduced for students in both public and private secondary schools in the state as a way of harnessing their entrepreneurial skills.

He added that  besides using the competition as one of the special packages  to commemorate the 30th anniversary of the  Fair and  improve the capacity of the average Nigerian child in understanding the Nigerian economic issues,  the competition would also enable  such students contribute to the development of the nation.

“The LCCI has consistently hosted the LITF for the past 29 years and the 2016 edition is the 30th successive and unbroken edition of the fair to be hosted by the Chamber. This is a testimony to the Chamber’s commitment to trade promotion and the advancement of the Nigerian economy.

“The introduction of essay competition in this year’s Fair is our way of promoting the entrepreneurial spirit in the nation’s youths and harness such spirits from the cradle.

“Consequent upon the prevailing economic conditions in the country and the need for sustainable diversification, it was our collective belief that it was time to take the spirit of business and entrepreneurship to the younger generation. Hence, the need to generate conversation among our children around the theme of the 2016 Lagos International Trade Fair became necessary. That was the reason for the essay competition,” the Trade Promotion Board Chairman explained.

He therefore expressed delight at the positive response the maiden edition of the essay competition, written on the 22nd October, 2016 at the LCCI Conference and Exhibition Centre, Alausa, Ikeja, Lagos, received.

About  150 students, drawn from 50 schools  across different local government areas in Lagos State,  participated in the keenly-contested competition.

Oyetayo added that one of the strategies put together by the board to ensure transparency and level-playing field for participants, was the board’s decision to source for markers  from the Lagos State Ministry of Education and the private sector, with the marking criteria determined and agreed by all the markers during the briefing session organized by the Chamber.

Interestingly, the competition actually lived up to the billing of the organisers, with Attoh Odera of Queens College scoring as high as 70 per cent to emerge winner of the competition. Atitebi Muslimat, from Kith and Kin International College and Favour Akinrotimi of Cedar College, scored 68 and 66 per cents to emerge first and second  runners-up respectively.

With a cash prize of N100,000, a laptop, HP 250 G4 Core 13/4G/500GBHDD, plaque for student and the school and other items, not a few believe the Chamber had opened another vista in the life of the Fair, which they hope would sustain interests in such competition.

“The challenge we currently have today is our failure to really inculcate the entrepreneurial culture in the lives of many Nigerians, especially at infancy. This is, perhaps, because many didn’t see the need for it since the avenue to make free money was there, through oil. But, with the misfortune of oil in recent times, and the  present clamour for diversification of the economy, I think the essay competition remains one of the highlights of the competition,” stated Lekan Samson, an economist and a participant at the Fair, while appraising the Fair.

He however would want a huge corporate sponsorship for this competition which, he argued, possesses immense potential of re-modelling the average Nigerian attitude to entrepreneurship.

Interestingly, the board seems to be in the same boat with Lekan. For instance, the decision of the board to extend the rewards to those that fell between the fourth and eighth position, according to its chairman, was to give as many people as possible a sense of belonging and encourage further participation in subsequent editions.

But his firm belief is that the Chamber is on course towards igniting the entrepreneurial spirits in Nigerians, especially from the cradle, and not a few stakeholders quite believe that is the way to go for Nigeria to wriggle its way out of recession.