Governor Okezie Ikpeazu has made a case for the sustenance of the Igbo apprenticeship system which he said is better than what is being taught at the various international Schools of Business .

Ikpeazu made the case in Aba while speaking at the Aba Business and Leadership Summit and Awards 2021 with the theme:

“Transferring Tested and Proven Business Models To the next Generation”.

The governor said the system offers great insight into business concepts including teaching alternatives, packaging and repackaging , procurement, storage and ware-housing, ethics of business as well as corporate social responsibility among others.

Ikpeazu who said the essence of the Summit wass to see how best to reignite interest of the young people in wealth and job Creation, stated that breaking the chain of teaching and mentoring young people as well as understudying Business Ventures will be jeopardizing the future of Ndigbo.

He announced that Aba Business School will soon be established to help consolidate the business skills of younger Igbo entrepreneurs.

The Governor said the official language in the School will be Igbo while the faculty will be drawn from successful Igbo business men and women who have excelled in their various fields.

He noted that no country has developed in science, technology and Business without emphasis on their Mother Tongue, using China as an example.

In a keynote speech, a former Governor of Anambra State, Mr Peter Obi identified lack of mentorship in the family, lack of proper corporate governance and structure , improper fiscal policy to support businesses as some of the factors militating against sustenance of family businesses in Nigeria.

Obi also attributed the collapse of businesses in Nigeria to lack of patronage for indigenous goods and stressed the need for the right thing to be done.

In his speech, the President of Coscharis Group Dr Cosmas Maduka joined Ikpeazu in advocating for the Igbo apprenticeship system of mentorship for the younger generation, adding that willingness and desire are needed for one to be successful in business.

The Director General, Abia State Marketing and Quality Control Agency, Mr Sam Hart had in an earlier address said efficient structure for continuity is key for the growth, sustenance of a business enterprise, adding that the summit was put together to chart a way forward for the sustainability of busineses in Aba, the economic hub of the South East.

He identified some of the factors affecting the growth and sustenance of businesses to include refusal of business owners to submit to equity, nepotism and lack of well planned business structure.

The summit featured a Panel discussion session on the theme “Pathway To Trans-generational Wealth Transfer,(Aba as a case study) by eminent Nigerians including Ide John Udeagbala of the Aba Chamber of Commerce, Mr. Darl Uzu CEO , Crown Realtors/Enyimba Economic City, Professor Bath Nnaji, Chairman of Geometric Power, Professor Pat Utomi of Lagos Business School, Sir Lawrence Obetta and Chief Mrs Stella Igbokwe.

TodayNG