Members of Entrepreneurs’ Organisation raise investment in Nigeria to $60 million

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Entrepreneurs’ Organisation (EO), a global community of small, medium and large business enterprises, revealed that it has increased its investments in Nigeria to over $60 million.

Catherine Buckingham, the Manager of the Organisation’s Global Membership Development told The Guardian that as at the end of 2018, the organisation had 13,000 members globally, but hopes to reach 18,000 members by the year 2020.

Entrepreneurs’ Organisation has no fewer than 45 members in Lagos and Abuja, and is looking to expand to other cities of Nigeria like Kano, Enugu, Port Harcourt and other major commercial hubs like Onitsha, Anambra State.

Buckingham revealed that EO currently has members in 58 countries of the world, 105 chapters, including those of Lagos and Abuja in Nigeria. She said it has been very rewarding networking with entrepreneur members in Africa and other parts of the world, as they learn a lot from one another.

According to Buckingham, the organisation has a platform of business owners with a net worth of at least $1 million across the globe. She also said the group has a Global Students Entrepreneur Award, which helps to nurture and build enterprises of students whose ideas are marketable.

The global body, which pegged the age limit at 50 years, has now lifted the age restriction to accommodate people of all ages, providing such members have businesses with a net worth of at least $1 million.

Sunday Gbenjo, EO’s Lagos President said the organisation’s investments in Nigeria has exceeded $60 million, as some of the 45 members have done up to $3 million and above. He said its members in Lagos and Abuja, have businesses in the telecoms, information and communications technology (ICT), oil and gas, agriculture, real estate and retail industry.

Gbenjo charged the Nigerian government to provide a friendly environment for businesses to thrive. He said if all goes according to plan, the organisation would have between 150 and 200 members in the next few years, adding that like its international chapters, the Nigerian chapter has employed hundreds of Nigerians.

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