Igbo apprenticeship scheme has the full potential to do for the Nigerian economy what similar schemes have done in many parts of the world
By Ishaya Ibrahim, News Editor
For Vice President Yemi Osinbajo, the Igbo apprenticeship scheme provides the surest platform to build wealth, nudge the economy and tackle poverty.
Osinbajo, who spoke at a national summit on understanding the apprenticeship model in Awka, said several millionaires have been produced by the scheme.
The scheme is popularly known as ‘igba boi’ in Igbo language. It requires an apprentice to learn the ropes of a business for a particular duration after which his boss establishes the exact business for him.
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Osinbajo says the scheme has the potential to grow Nigeria’s economy. He said while participating virtually that, “the Igbo apprenticeship scheme ‘igba boi’ has become the most popular indigenous Nigerian economic institution, globally recognized as the world’s largest business incubator.
“The scheme has the full potential to do for the Nigerian economy what similar apprenticeship schemes have done in many parts of the world, especially in Germany and India.
“I commend the organizers of the event, and I’m hopeful that the summit will improve the growth and possibilities for the Igbo apprenticeship scheme.”
Keynote speaker, Obiora Okonkwo, recommended that the scheme be institutionalized.
He said: “I am sure some of you may have been wondering why I was chosen to deliver the keynote at this event. The simple answer is that the apprenticeship scheme and the Onitsha Main Market hold a very special place in my heart as that was where I had my first stint in business.
“My father died when I was 14 years old, forcing me to combine my secondary school education with managing the business and his apprentices. That meant I went to school in the morning and continued at the Main Market in the afternoon. That basic trading experience, in many respects, helped hone my business instincts and also instilled in me a deep sense of industry and hard work that has defined my life’s journey to date.”
Okonkwo said because of the experience, when the Nnamdi Azikwe University Business School in July 2019 honoured him with the ‘Philanthropist of the Year Award’, it was only natural for him to try to give back by endowing a major research project on the future of Igbo entrepreneurship.
The National Summit on Igbo Apprenticeship Scheme was organized by Anambra Broadcasting Service.