Some business leaders have urged entrepreneurs in Nigeria to develop resilience, adaptability, and innovation to thrive in the country’s evolving economic environment.

The business leaders spoke on Wednesday at the 2025 MBA week of the University of Ibadan School of Business.

A former Oyo State commissioner for finance, Bimbo Adekanmbi, said entrepreneurs must build local empathy and cultural affiliation to withstand the shocks associated with emerging markets.

“Emerging markets are not monolithic. Each one is different. You will face shocks in your career, from boardrooms to consulting to the public sector, but resilience is key,” he said.

Mr Adekanmbi stressed the need for young professionals and business leaders to get involved in governance and decision-making processes, particularly as Nigeria prepares for the next round of elections.

“In less than two years, there will be elections in Nigeria. It is very important that you think critically about the people you vote for.

“We must stop waiting for stability before we start building. Let us build the stability we want to see,” he said.

The former commissioner also advised entrepreneurs to treat risk as a teacher rather than a threat, noting that managing uncertainty could become a competitive advantage.

“Managing uncertainty is not a handicap; it can become a collective advantage,” he said.

Also speaking, the founder of Travella, Adebayo Ogunranti, said innovation required time, persistence, and strength in the face of economic challenges.

“Anything is possible in Africa. The challenges will always be there, but entrepreneurs must be stronger than the challenges,” he said.

Mr Ogunranti urged the government to be more inclusive and engage experts from different sectors to enhance productivity.

“Government cannot know everything. It should involve knowledgeable people from various industries to boost productivity,” he said.

In his own contribution, the lead brand strategist at Ogbemiro Consul, Opeyemi Ogungbemiro, emphasised the importance of clarity, consistency, and relevance in brand building.

“There must be identity and clear communication. As you grow financially, have sustainability and solid branding in mind.

“Build something that connects with people and creates emotional attachment,” he said.

Mr Ogungbemiro urged young business owners and professionals to combine creativity with discipline and strategic risk management to sustain growth in a challenging economy.

A lawyer and businessman, Akeem Agbaje, also highlighted the importance of innovation and adaptability.

“Wealth is measured by ideas. Those who can adapt ideas faster than others control the future. Innovation without adaptability dies,” he said.

Mr Agbaje said entrepreneurs must maintain discipline and learn to separate family, social, and business matters to build stronger enterprises.

“Adaptability is not weakness; it is everything. Think of what you can do differently and better,” he added.

(NAN)