In addition, he said in most developed economies of the world and even emerging economies, the major drivers of job creation, employment is the private sector through the efforts of individuals and corporate. The role of government is limited to creation of social infrastructure and conducive environment that will facilitate entrepreneurship and corporate in establishing industries, he said.
On his part, Dangote, who was chairman of the summit argued that despite Nigerias economic status, the level of unemployment in the country is high.
According to him, Nigeria has an attractive market but barriers to entry are high, posingcausing challenges for investors.
He said MSMEs drive job creation and innovation, however, access to finance for growth have hindered their growth over the years. Over 80 percent of MSMEs in the country are funded from personal savings and this is not helping for the growth of our economy. There is urgent need to address the constraints on SMEs to ensure they flourish.
Advising entrepreneurs to build competences , he said beyond every challenge is a great opportunity waiting to be received.