Entrepreneurs charged to rethink business models

By : Abigail Ikhaghu

Date: 23 December 2025 2:11am WAT

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Stakeholders at the 10th Annual Entrepreneurs Conference and Expo organised by the Masterpiece Resource Development Centre (MRDC)

Stakeholders at the 10th Annual Entrepreneurs Conference and Expo organised by the Masterpiece Resource Development Centre (MRDC)

Business and industry leaders have urged Nigerian entrepreneurs to rethink and reinvent their business models to remain competitive and achieve sustainable growth.

This was at the two-day 10th Annual Entrepreneurs Conference and Expo organised by the Masterpiece Resource Development Centre (MRDC), themed, ‘Reinvent, Innovate, Strategise, Expand’, held in Lagos.

Leading the call, Managing Director/CEO, Mainland Oil & Gas and Chairman, Chrinak Group, Dr Chris Igwe, said greatness is hardly inherited but forged through pressure, innovation and strategic adaptation.

Drawing from his father’s palm-oil business, he explained how upfront payments for unripe palm fruit secured loyalty and market dominance, an early demonstration of reinvention that shaped his entrepreneurial instincts.

He narrated his journey from a post-Civil War childhood marked by scarcity to building one of Nigeria’s notable conglomerates.

Igwe recalled dropping out of school after a family tragedy and beginning a seven-year apprenticeship which, he said, equipped him with discipline, patience and business acumen. Starting with only N10,000 in 1992, he grew his capital through inter-city trade and strategic cost-saving methods such as traveling as an escort on night buses to avoid freight charges.

Also, the Chairman of Japaul Gold & Ventures Plc, Segun Oloketuyi, urged entrepreneurs to pursue their goals with fairness, discipline and integrity.

He cautioned them against living above their means or allowing competition to intimidate them, noting that focus and prudent financial management are essential for sustainable business success.

Oloketuyi said the future belongs to entrepreneurs who are ready to rethink, rebuild and rise, while noting that the theme remains practical tools for entrepreneurs determined to rise above limiting backgrounds.

Convener, Modupe Oyekunle, described the event as a transformational call to shift mindsets, embrace resilience and build enterprises capable of thriving despite economic headwinds.

She highlighted MRDC’s impact since 2007, with over 10,000 entrepreneurs trained through conferences, expos, masterclasses and strategic partnerships.

Oyekunle said no participant should leave the event unchanged, insisting that innovation and strategic thinking are non-negotiable for those planning to scale in 2026 and beyond.

She therefore encouraged entrepreneurs to tap into the knowledge, networks and exhibition platforms available at the conference, adding that barriers whether personal or structural can be overcome with the right mindset and exposure.

Chairman of the MRDC Board, Dr Abiola Popoola, charged entrepreneurs to see the two-day conference as a deliberate investment in their capacity and business future. He said reinvention requires rethinking not discarding past efforts, while innovation demands the courage to adopt smarter, more efficient ways of operating.

Popoola emphasised the importance of digital capacity, new business models, strong networks and disciplined long-term planning, stressing that growth must be intentional and measurable.

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