Text of the Address of the Vice-Chancellor of African School of Economics (The Pan-African University of Excellence), Abuja, Prof. Mahfouz A. Adedimeji, Delivered on the Occasion of the Young Entrepreneurs Acceleration Programme Themed “Rise, Innovate and Thrive” Organised by De-Nexus Centre at the Main Hall, ASE, on Tuesday, May 6, 2025
IGNITE YOUR SPARK
Warm Words of Welcome
It is my pleasure and honour to welcome you to the better than the best African School of Economics (The Pan-African University of Excellence), Abuja, for this amazing and life-changing Young Entrepreneurs Acceleration Programme organised by De-Nexus Centre. I, therefore, hasten to appreciate the vision of the visioner and visionary, Her Excellency, Princess Gloria Akobundu, fsi, an accomplished entrepreneur and transformational leader, for conceiving this important intervention. I also acknowledge the Executive Director of the Centre, Prof. Adegboyega Karim, supported by the Director of Programmes, Mrs Ifeoma Okoye, and other team members.
I heartily welcome all our esteemed dignitaries, distinguished speakers, respected guests and lucky participants to this electrifying gathering of trailblazers, innovators and change-makers. Today, we are together on the path of possibility, united by a shared mission—to rise, to innovate, and to thrive. I am sure that at the end of this programme, you will not remain the same again and you will all be making things happen. This is because, as Mary Kay Ash once told us, “There are three types of people in this world: those who make things happen, those who watch things happen and those who wonder what happened.”
The entrepreneurs make things happen because they are proactive, driven and passionate about generating ideas and transforming them to life, like a larva to a butterfly or an egg to an eagle. They are different from those who just watch and wonder without taking active steps to change their conditions. This programme will ultimately make everyone realise that our problem is not really the absence of opportunities but the inability to identify and utilise them. The challenge is that of not having the right mindset that would make innovative ideas germinate and grow.
Entrepreneurship is for the Bold and Daring
Distinguished ladies and gentlemen, one simple truth is that entrepreneurship is not for the faint-hearted. It is for the bold, the daring and the relentless. It is for those who see challenges as opportunities and believe that the supposed impossible is simply a problem waiting to be solved. This is why De-Nexus Centre, with the African School of Economics, is at the forefront of scaling the heights to harness opportunities and convert challenges to solutions through quality education and high impact training at undergraduate and postgraduate levels.
Etymologically, entrepreneurship derives from two Latin words, “entre” (meaning “to swim out”) and “prendes” (meaning “to grasp”, “to understand” or “to capture”). The two words were combined by the French-Irish Economist, Jean Baptiste Say, to form entrepreneur in 1800, after Say had been influenced by Adam Smith’s “An Enquiry into the Nature and Causes of the Wealth of Nations” published in 1776. It was on that basis that entrepreneurship has become well known as the engine of economic growth, a provider of social welfare, a means of revitalising stagnating industries and a pathway to prosperity.
As I told a youth conference on entrepreneurship on December 13, 2017 at the University of Ilorin, if ‘entrepreneur’ is operationally considered an acronym, to me, it means that every aspiring or established entrepreneur must have education, novelty/innovation, team spirit, research-mindedness, enterprise, productiveness, risk-taking, energy, nurturing spirit, experimentation, unstoppable disposition and responsibility. All these are crucial and I believe that they will be highlighted, directly or indirectly, in the course of this programme.
The Story of Sir Brandson’s Virgin Atlantic
The journey of an entrepreneur begins with making a decision, a decision to rise above fear, doubt and the comfort zone. So, ignite your spark and turn every challenge, big or small, to an Eureka moment. This can be illustrated with a relatable story of flight cancellation that every Nigerian air traveller has encountered and how it ignited the spark in Sir Richard Brandson.
One day in 1979, the British Airways cancelled a flight that a 29-year old record label owner was to board to the British Virgin Islands. Richard Brandson took the disappointment personally seeing himself and several passengers left stranded at the airport. The quick-thinking Brandson decided to charter a plane right there. He scribbled “Virgin Airlines – $39 one-way to BVI” on a small blackboard and announced, “Who wants to join me, I have chattered a plane?”
Within a few minutes, the aircraft was filled with stranded passengers and he was able to cover the $2,000 charter cost. As the plane roared through the clouds, Richard Brandson had an idea. “If I can fill a plane with frustrated British Airways customers easily…why not start my own airline?” Though it took five years for the airline to happen, it was that spark of frustration that ignited the idea of Virgin Atlantic Airline, the inaugural flight of which took place on June 22, 1984. It started small: one aircraft, one route and one big mission: to make flying great again.
Even if Virgin Atlantic soon faced challenges orchestrated by its behemoth rival, British Airways, the airline grew from one aircraft to seven within seven years. There is more to the story but I need not bore you beyond the most relevant part to the point being made about igniting the spark in you and converting challenges to opportunities
Dream, Innovate and Thrive
In line with the theme of today’s programme, I challenge you to rise, to dream big, to take risks, and to launch something new into the world. Rise to step outside the familiar and believe in your vision. The world doesn’t need more spectators; it needs doers and leaders who are willing to take risks and forge paths where none exists.
You also have to innovate, innovation being the heartbeat of entrepreneurship. You have to remember that innovation is not just about creating something new, it is about solving problems, addressing needs and making the world better. The challenges we face, such as unemployment, insecurity, inequality, diseases, etc., are not beyond solutions. Indeed, they are opportunities waiting for innovators like you to leap on to higher grounds.
Meanwhile, to thrive is not just about success, it is about sustainability and leaving lasting impacts. Thriving means staying true to your vision while adapting to change and balancing ambition with purpose. It also means resilience because the road to success is rarely smooth. There will be setbacks and challenges. However, every setback is a lesson, every challenge is an opportunity and every step forward is a victory.
A Call to Action
Dear participants, I believe this programme will ignite your spark to rise with courage, innovate with passion, and thrive with purpose. As the world is waiting for you, you must act and be ready to work hard. Let this acceleration programme be your catalyst for growth, a springboard for innovation, and a renewal of the entrepreneurial spirit. So, let us rise, innovate, and thrive together!
Thank you for your attention and have a wonderful day!