Vice President Yemi Osinbajo on Saturday in Lagos listed the values needed for a business to be successful in the country.
He further told businessmen in the country that they cannot be successful entrepreneurs by cutting corners.
According to him, while the payment of taxes is a matter of self-interest not just civic duty, “self-discipline, the ability to serve and to invest as well as bearing losses are critical”.
Osinbajo gave the advice while delivering a lecture entitled “Transforming Africa through Entrepreneurship’’.
He was speaking at the Tony Elumelu Entrepreneurship Programme (TEEP) 2015 Boot Camp, organised by the Tony Elumelu Foundation (TEF) where he represented President Muhammadu Buhari.
He identified the pivotal role of exemplary character in entrepreneurship, which, he said, can in turn become the platform for the growth of business and development of a nation’s economy.
Noting that the ground for entrepreneurial success is character, Osinbajo added, however, that discipline alone was not sufficient.
He said, “Enterprises and societies thrive on the the values of moral integrity, self-discipline, hard work and innovation, respect for rule of law and the prompt payment of taxes. These are the critical components for successful economies and countries anywhere.
“The core of success in business is integrity, honesty and trust in the conduct of business. Credit worthiness is important in business, because when trust fails every other thing fails.
“The payment of taxes and other obligations, be it moral or civic, for the purpose of development of the economy, for building infrastructure and other services are all important in business”.
He expressed optimism that Africa now stands at the face of greatness after many years of being regarded as “the dark continent”, recording highest figures in poverty poor health- care, illiteracy, poor human development.
The VP observed that the world today sees Africa as the next frontier for international business, a hub for development and growth of local and global enterprises.
He commended Mr. Tony Elumelu, the founder of the programme for “investing substantially in the ideas and vision of many young Nigerians and Africans, and helping to shape the future of the continent by building confidence in the young men and women to direct the success in the coming years”.
Other speakers at the Boot Camp included the Kaduna State Governor, Malam Nasir El-Rufai, and the Prime Minister of Republic of Benin Mr. Lionel Zinsou.
In his remarks, the Prime Minister of Benin Republic, commended the Tony Elumelu Foundation for organizing the Boot Camp programme that brought together 1000 young entrepreneurs from several African countries.
The Chancellor of the Covenant University, Bishop David Oyedepo was also in attendance alongside Elumelu and several other dignitaries.