Many reports in the past years have revealed that a lot of businesses in Nigeria fail within their first three to five years. According to Ibukun Obe, Nigerian businesses, unlike their global counterparts struggle to survive through generations due to a lack of knowledge on how to scale over a long period of time.
Ibukun is the CEO of Premier Hub Innovation Centre, an innovation hub located in Akure, the Ondo state capital. It began operations in August this year.
“We set up Premier Hub to give Nigerian entrepreneurs the kind of knowledge and exposure they need to scale their businesses from one generation to other. The South-West is our focus area and we’re starting from Akure,” Ibukun told us during our recently concluded Innovation Tour across South-West Nigeria.
To achieve this, Premier Hub plans to run several training and incubation programmes for entrepreneurs. Starting with the recently concluded i-startup Southwest, an incubation programme for entrepreneurs in the South-Western region of Nigeria, in partnership with the federal government through the National Social Investment Programme (NSIC).