The Zonal Coordinator, Church of God Mission, Victoria Island Zone, and the convener of “The Roundtable Lekki”, Rev Chris Ubamadu, has said that social media has huge potential for businesses and individuals to make money.

He noted that social media “is arguably the fastest means for businesses to reach millions of consumers at the same time, creating awareness for their products and at the same time gathering clientele.”

Ubamadu stated this in his welcome address at this year’s edition of The Roundtable Lekki, a dynamic business development, economic empowerment, and networking forum, initiated and hosted annually by the Church of God Mission Int. Inc., Victoria Island Zonal Headquarters, Oniru, Lagos. The Roundtable was on the theme “Making Money from Social Media: A Goldmine for Everyone.”

He said: “Although many see social media as an entertainment outlet, we know that it has huge potential for businesses and individuals to make money. It is arguably the fastest means for businesses to reach millions of consumers at the same time, creating awareness for their products and at the same time gathering clientele.

“The Social Media space has great potential to engage millions of Nigerians, especially the youths. It is therefore our interest in helping our participants to know how to tap into its vast economic opportunities.”

The event, held last Wednesday in the Church’s auditorium, had in attendance, the Commissioner, Ministry of Innovation, Science and Technology, Lagos State, Olatunbosun Alake; President Benson Idahosa University, Rev. Dr. Faith Emmanuel Benson RIdahosa II, popularly known as Bishop FEB; the Chief Customer Experience Officer, Interswitch Group, Mrs Oremeyi Akah; celebrated content creator, actor and producer, Debo Adedayo, popularly known as Mr Macaroni; notable content creator, stand-up comedian and actor, Afolabi Nosa Adeyemi, aka Lasisi Elenu; inspirational speaker, social media consultant, and founder of the Clinton Baruch Inspirational Network, Clinton Baruch; Dr Chinonso Egemba (aka Aproko Doctor). They underscored the relevance and significance of the theme, “Making Money from Social Media: A Goldmine for Everyone.”

Ubamadu, who is the convener of the event, said “The Roundtable Lekki” is purely a CSR initiative, a business development, economic empowerment and networking forum, created to share information that will assist businesses, business owners, investors, SMEs and individuals, on how to take advantage of growth opportunities that may abound in their operating environment.

“Our strategy is to use free conferences, seminars, and networking platforms to stimulate interest and aid economic emancipation, especially in difficult times like this. By doing this we intend to make our humble contribution to reducing poverty in the land and helping households.

“Every year, The Roundtable Lekki selects a sector in the economy, which it dimensions with the help of professionals and key players in that sector. The goal is to critically analyze the sector in order to reveal the business potentials inherent therein. Our strategy is to

stimulate interest in the audience and encourage them to use the information provided to be economically empowered.”

In his address, the Commissioner, Ministry of Innovation, Science and Technology, Lagos State, Olatunbosun Alake, noted that a lot of the companies that Lagos State has sponsored and invested in are companies leveraging social media, stressing that there are many Lagos state programs entrepreneurs can tap into like LASSRI, voucher program for entrepreneurs that require physical office, multiple programs, for multiple sectors of society.

According to him, using collaborative tools as well, between 2020 and 2023, Lagos state has brought up 70 start-ups from Fintech, construction leveraging on social media, secular economy and environmental sciences.

“There are quite a lot of supports that Lagos state has been giving to young entrepreneurs. We also have an internship program through our agency, Lagos Employment Trust Fund. What we do, young entrepreneurs who want to start a business, whether they are leveraging social media or other tech, we put them with industry experts. For instance, if you want to start a cement plant we will pair you up with Dangote. If you want to start a Fintech we will link up with an expert in that industry. The expert will help coach you and help prepare your business for pointers.

“We also give what we call Hub Voucher Ticket. For entrepreneurs that requires physical space. You can apply at the Lagos Innovate platform, you will get that voucher and you can redeem it at over 45 spots in Lagos. If you want to do business, you need electricity, internet, and all the resources you require. You need networking and facilities. With the voucher you applied for. Once you are accepted, you can redeem that voucher in any of the spots in Lagos for free,” Alake said.

Also speaking at the event, Rev. Idahosa spoke on how to build a personal brand online, stressing that “mindshare increases market share”.

“What can help you build a personal brand: When building our brands, most times we are obsessed with getting followers, you don’t have to do everything. Niche on one. TikTok will blow you up if you have a niche. You can solve a problem, you will prosper.

“Mindshare increases market share. Don’t chase market share, chase mindshare. We trust people we know about their details, and that is why we trust actors we never met before. You see a certain actor advertising a detergent, and because we know the actor we trust them. We want to buy the product, but minding if they also use the same detergent they are promoting.

“Teach what you know, someone is praying to find answers to the things you know and you do every day. Your post should educate, entertain or encourage. Most of these social media influencers either educate you like Aproko Doctor or entertain you or encourage or edify you. Another way to build your personal brand is by posting frequently. Be consistent. You must not post perfect content, just post what you have,” he said.

Highlights of the event include two-panel sessions which saw Mr Macaroni, Lasisi Elenu, Clinton Baruch, and Aproko Doctor, sharing their inspiring experiences.

The “Roundtable” had in attendance scores of enthusiastic youths, including professionals who were full of praise for the organisers of the event.