NIGERIAN ENTREPRENEURS: THE US MIGHT WANT YOU

Despite many of the negative stories one reads in newspapers, online or sees on television, Nigerians are in high demand. From the UK which spends money to bring aspiring students, to Canada which sets aside scholarship money just for Nigerians, and the US military which seeks out native Igbo speakers, Nigerians are a hot commodity. But, the temperature has now risen through the roof with the announcement that the US Congress might give work visas to foreign entrepreneurs who can come to America, set up a business and live in the land of opportunity.


PROGRAM SPECIFICS
The US government will issue a work visa to any Nigerian, and other foreign nationals, who opens a business in the US. He or she must, however, raise at least US $250,000 (approximately N30 million) via qualified US investors. Once the business has been created, it has 2 years to create a minimum of five new jobs, raise at least $1 million or generate at least $1 million in revenue. If even just one of those goals is achieved, the business owner will get a green card. If the entrepreneur fails to achieve at least one of the stated goals, he or she will be asked to leave.

Of course, it is not easy to raise capital in the current global economic climate. Nevertheless, this appears to be a wonderful opportunity for innovative and resourceful individuals to take advantage of the US economy and make a better life for themselves and their family members.

WHAT DOES THIS MEAN FOR NIGERIA?
There is no doubt that this program will take away Nigerian talent to the detriment of the nation. Nigeria needs all the skilled workers it has to develop the country. One need only consider the flight of nurses from Nigeria to Europe and America where they are highly prized to see the detrimental effects of losing skilled workers in a developing country. Unless something changes, Nigeria will eventually be forced to import the skill sets it needs to face future realities.

However, critics of this program have to be realistic. Entrepreneurs in Nigeria face an uphill battle. From a lack of adequate infrastructure such as consistent electricity supply and good roads and a transportation system, being an entrepreneur is not easy. Additionally, local businesses do not get loans from banks thus limiting the start up money available to business owners. And then along comes the United States government practically begging Nigerians to come and work and live there. Without a doubt, those that will will surely take the risk of failing to have the opportunities America presents.

And, despite the obvious disadvantages, those Nigerians who succeed in the United States will be able to send home remittances which will help their loved ones. Nigeria already benefits from $10 billion in remittances. More importantly, those remittances will contribute to the national economy in a way that benefits the larger public.

America is thinking outside the box so as to tackle its economic problems and boost its economy. Nobody can fault it for that. Nigeria needs to be even more aggressive in finding new ways to address its challenges and hold on to the talent it has because if not, things will only get worse.

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