The FATE Institute of FATE Foundation unveiled and inducted its pioneer FATE Institute Fellows at the induction ceremony on Monday, August 22, 2022 as part of the efforts to drive innovative thinking and approaches to tackle entrepreneurship issues in Nigeria.
The FATE Institute, which is the research, policy, and advocacy arm of FATE Foundation, leading innovative thinking and creating platforms to enable idea exchange and problem-solving strategies around entrepreneurship in Nigeria is excited about this major feat.
At the induction ceremony, Mrs. Adenike Adeyemi, Executive Director, FATE Foundation, “The 2-year fellowship program was designed to bring together, showcase and support policy experts, economists, and academia with fresh thinking and innovative approaches to tackling entrepreneurship policy issues in Nigeria. We are happy to unveil the institute pioneer fellows today and wish them the best.”
Following a rigorous selection process over a 4-month period, 6 fellows were selected from a pool of 132 applicants. The fellows are: Ayodele Shittu, PhD (Economics), Soochow University, PR. China; Jonathan Ikeolumba, PhD Candidate (Finance), University of Lagos Business School; Motunrayo Akinsola, PhD (Economics), University of South Africa, SA; Omosalewa Olawoye, PhD (Economics and Social Science Consortium) University of Missouri, USA; Rilwan Aderinto, PhD Candidate (Public Policy) University of Ibadan, Nigeria; and Wilson Erumebor, PhD Candidate (Economics), SOAS University of London.
Delivering the keynote address at the induction ceremony, Mr. Asue Ighodalo, Founding Partner, Banwo & Ighodalo and Chairman, Nigerian Economic Summit Group (NESG) spoke on “Linking Entrepreneurship and Socio-Economic Impact: The Gaps, Priorities and Opportunities”, highlighting the innovation and strength of Nigerian entrepreneurs; gaps around access to finance; and opportunities to improve manufacturing, drive competitiveness and export; as well as policy entrepreneurship.
“This is a milestone for The FATE Institute, and I implore all the fellows to explore the opportunities and develop clear road maps that will deliver impactful outcomes that are urgently needed within the ecosystem”, Mr Ighodalo said.
Other speakers at the Induction included Dr. Jumoke Oduwole, Special Adviser to the President of Nigeria on Ease of Doing Business and Mrs. Aisha Abubakar, Board Director, Union Bank Plc and Fmr. Minister of State, Federal Ministry of Industry, Trade and Investment. Dr. Oduwole who spoke on “Partnering with Government to Facilitate Evidence-based Policy Strategies” also shared practical examples on the role partnering with relevant stakeholders played in the delivery of key initiatives to ease doing business in Nigeria such as the Omnibus bill, the Ease of Doing Business report and the 60-Day Accelerator initiative.
She emphasized the need to adopt a strategic approach in partnering with the government on policy and encouraged the fellows to start with a clear focus and follow through with execution.
Mrs. Abubakar who spoke on “Developing Data Insights to drive Effective Decision-making and Institutional Change” highlighted the role data plays in ensuring the efficient use of critical resources which is crucial for the public sector to thrive.
She emphasized the importance of data and insights in guiding decision-making while noting that collaboration will drive institutional change.
Over their 2-year fellowship program, the FATE Institute fellows will develop data-based reports looking at key entrepreneurship thematic areas such as access to finance, access to markets, multi-taxation etc; key sector areas like agribusiness, education, manufacturing, health, creative etc; and key demographic areas like youth-led business, women-led businesses and persons living with disabilities.
They will also work on implementing policy recommendations in collaboration with key stakeholders across public, private and development sectors in Nigeria.
FATE Foundation is Nigeria’s foremost enterprise development organisation that seeks to harness the strong entrepreneurial culture of Nigerians by providing aspiring entrepreneurs with business incubation, growth, and accelerator support required to fully explore their innovative potential, to start, grow and scale their businesses.
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