Funding is usually critical for any programme to be successful. I think this Act, when it was put together, should paid attention to that. So, that N10bn is already part of the Act, which means that hopefully, every year, there is something earmarked to contribute. But looking at the big picture and overall objectives, we even need more funding from the private sector and so on. But this will go a long way in building capacity. Honestly, we have recorded significant progress.
In terms of contribution to the economy, the development of Nigeria is enormous. I look forward to seeing many startups that will grow successfully through this Act and getting the right support, you can estimate the employment it is going to create, the economy and, even export. This solution is the future, and will contribute to our forex reserve. I think it is very huge and something I hope the government will build on the foundation.
That is a very good question and coincidentally, I am sure you were aware that recently, Bill Gate had a session with the youth entrepreneurs and a similar question was asked. I agreed to his answer and it is about striking the balance as he said. Being Nigerian, I think I will be even more patriotic about it. But honestly, I align with what he said because the world is a global village. So, how do you keep upping up your standard? I think that is the major area.
The banking sector is one of the most affected by this trend and there have been a number of cases where there is a shortage of talent and the system isn’t really working well. You know some insecurities issues. I think this is one of the downsides of this. But in terms of government support, there is no shortcut to these things. The question we should ask ourselves is what is causing the trend? The government has to put a number of things in place, not just directly on this issue.