The role of entrepreneurship education on job creation. Lack of competent and management skills by the entrepreneurs militate against the development of entrepreneurship in nigeria. Entrepreneurship, innovation, technological change and nigeria introduction entrepreneurship is the art or science of innovation and risktaking for profit in business, the quality of being an entrepreneur. Roles and cogent part entrepreneurship development has played in nigeria economy, our minds have been open to how increase in income of every citizen in the country has a serious effect on the economy of the nation either positively or the other way round, it is therefore of a paramount and core value to promote entrepreneurship and give grants. The impact of entrepreneurship growth in the development. Entrepreneurship and economic development in nigeria. The nok achieved a level of material development not repeated in the region for nearly 1,000 years. The role of entrepreneurship in economic development of nigeria. This paper examines various government policies and programs towards the development of entrepreneurship in nigeria. A term paper on the role of entrepreneurship in economic development of nigeria. Journal of sustainable development in africa volume. While nigeria faces significant barriers in becoming a more relevant body in the world economic field, its history of skilled entrepreneurship, and the aid that such entrepreneurship has given to the development of the country and its economic framework thus far proves to be a. Long before 1500, much of presentday nigeria was divided into states, which can still be linked to the modern ethnic groups that trace their history to the origins of these states. Problems and prospects of entrepreneurship in nigeria.
For the first time, entrepreneurship in nigeria was formed when the number of products made by people increased. One of the major factors that have in many ways discouraged this flow of entrepreneurship development in nigeria is the value system brought about by formal education. Department of marketing faculty of business studies rufus giwa polytechnic, owo, ondo state, nigeria email. The study was carried out at ilorin, capital city of kwara state, nigeria. Nigeria is progressively trying to incorporate modern technology into its country. For the effective explanation of the history of entrepreneurship in nigeria, it is therefore unavoidable that the term itself is defined and explained in the simplest ways possible. Introduction nigeria, the most populous country in africa, is naturally endowed with millions and millions of acres of arable land, 38.
Furthermore, the study will show how rapid and sustained entrepreneurship development will promote industrial development in nigeria. Mar 30, 20 in this way, modern entrepreneurship was conceived. Objectives of the study the study has the following specific objectives 1. They aim at rapidly achieving selfsustaining growth and by extension, selfreliant development. Youth entrepreneurship, entrepreneurial skills, small and medium sized enterprises, economic growth, nigeria. This is coming after nigeria rebased its gdp from 1990 to 2010 resulting in an 89% increase in the estimated size of the economy surpassing south africa. It will serve as a data bank for students or other researchers who will carry out studies on the subjects matter or related areas in the futures. In spite of the fact that entrepreneurship development has been regarded as the bulwark for employment. Most of the modern entrepreneurs were engaged in retail trade or sole proprietorship. Project topic on the practice of entreprenuership in nigeria. Finally, the study will be found useful for academic purposes.
A number of studies have been carried out on the effect of microfinance on entrepreneurial. In nigeria, like some other economies, the government helps to encourage entrepreneurship development ebiringa, 2012. Actually, the role of entrepreneurship in the development of nigeria economy is a successful story. The paper examines 19081947 british administration education antecedents in nigeria, blaise memorial, industrial school in abeokuta, formal vocational education in. The role of entrepreneurship in economic development of. Relationship exists between socioeconomic, political and environmental factors and the development of entrepreneurship in nigeria.
Tende, nasarawa state university, keffi abstract government policies and programs promote entrepreneurship and investing in new ventures. Challenges of entrepreneurship development in nigeria many scholars has written of the challenges of entrepreneurship development like onuoha 1994, obeleagu, 2000 and ile 2002 were all of the opinion that inadequate capitals, incompetent management, lack of technological and infrastructural facilities are the common problems among others. This study assessed the impact of entrepreneurship on economic development in nigeria. That entrepreneurial development depends on three entrepreneurial skills, which affect positively the strategic management and development of entrepreneurial. In conclusion, emphasis must therefore be focused on micro and small business enterprises in developing nations like nigeria. The challenges of quality entrepreneurship education were also discussed. The historical background of entrepreneurial development. The entrepreneur is therefore an important agent of innovation growth and technical progress. The labour force of 47 million is growing, as is the. A case study of selected entreprenurs in enugu state abstract entrepreneurship as we all know is a self employed business which is written for student who must live in a world influenced by business activities, because without business human being cannot operate on his own self. Entrepreneurship education as a panacea for sustainable economic development of nigeria saheed, g. Figure 1, below is the model showing that entrepreneurship can result in positive changes which can lead to a great and dynamic economy in nigeria in 21 st century. This study examines the relationship between entrepreneurship development and sustaining economic growth in nigeria. The study focuses on assessing the prospects and problems of entrepreneurship development in nigeria.
The role of entrepreneurship education on job creation among. The history of entrepreneurship in nigeria omanjaf. In nigeria, shaping the future beyond oil is a critical part of the national agenda. The historical background of entrepreneurial development in nigeria. Entrepreneurship development and sustaining economic. Simple random sampling technique is used to select 105 entrepreneurs from the three senatorial zones of osun state. Meanwhile, studies have revealed the macro factors affecting entrepreneurship development in nigeria to include corruption ojeifo, 2012. To ascertain the challenges of entrepreneurship development in nigeria. Nigerian industrial development between 1943 and 20. To find out if there is significance in the role played by entrepreneurship in nigeria, also to emphasize the need for entrepreneurship in an economy, examining the participation of. The impact of entrepreneurship growth in the development of. The role of entrepreneurship in the growth and development of our dear nation cannot be overlooked and as a result of the consistent rise in the level of unemployment and the upward increase in the level of poverty in nigeria, it has become crucial for. And this was a turning point in the history of entrepreneurship in nigeria.
Emerging markets and the future of business history harvard. Entrepreneurship development and employment generation in. The role of entrepreneurship in transforming the nigerian economy. Get free research paper on entrepreneurship development in nigeria our project topics and materials are suitable for students in nigeria with case studies in pdf, doc. Pdf entrepreneurship and economic development in nigeria. Sep 18, 2014 meanwhile, studies have revealed the macro factors affecting entrepreneurship development in nigeria to include corruption ojeifo, 2012.
The great need for entrepreneurship development in nigeria today, more than ever, is. The current economy is dominated by the oil industry. The major purpose of the study is to highlight the origin of entrepreneurship and education development in nigeria. Government initiatives toward entrepreneurship development in nigeria sam b. Entrepreneurship education as a panacea for sustainable. Evidence from small and medium scale enterprises smes financing abdulkemi, idris zubair director zonal offices coordination department securities and exchange commission abuja abstract. In this way, modern entrepreneurship was conceived. The role of entrepreneurship development in nigeria economy abstract generally this study seeks to explore the role of entrepreneurship development in nigeria economy, with a case study of the hungry man restaurant. Model of entrepreneurship development for national development.
Dec 17, 2015 impact of government policy on entrepreneurship development in nigeria. The historical background of entrepreneurial development in. The paper examines 19081947 british administration education antecedents in nigeria, blaise memorial, industrial school in abeokuta, formal vocational education in various departmental training schools. The paper opines that entrepreneurship is lacking in nigeria due to certain challenges such as epileptic power supply, lack of genuine support for those intending to start up a business, lack of strong willedpower to take risk. The development and utilization of their technical and. Prospects and challenges conference paper pdf available may 2014 with 31,598 reads how we measure reads. This working paper suggests that the business history of emerging markets. If the inline pdf is not rendering correctly, you can download the pdf file here. Several studies have examined entrepreneurship using smes from different jurisdictions using different techniques. The aim of this project is to provide both student who have graduated. Why nigeria needs to focus on entrepreneurial development. Assessing the prospects and problems of entrepreneurship.
Pdf on jul 4, 2019, louisa n amaechi and others published entrepreneurship and economic development in nigeria find, read and cite all. Entrepreneurship development in nigeria the guardian. Last year the nigerian economy was declared the largest african economy. Impact of youth entrepreneurship in nation building. Evidence from enterprise development in nigeria farayibi, adesoji oladapo 1 abstract this study provides an econometric analysis of the role of entrepreneurship in economic growth in nigeria. This study therefore examined the role of entrepreneurship development in using micro and small business as a case study. In the past, when nigeria used to import all what she or he needed from which of course had made the country face a lot of instability in all aspects of national like both socially, economically, political and morally. The role of entrepreneurship in transforming the nigerian economy 1.
The entrepreneurship education has done a lot in the national development in that it can revive the economy of the nation, improve the standard of living of people everywhere, develop indigenous technological base, reduce ruralurban drifts and create employment opportunities. There is no relationship between socioeconomic, political and environmental factors and the development of entrepreneurship in nigeria. Ajayi department of geography, university of ibadan, nigeria abstract perhaps one major problem facing nigeria today that has received little or no attention remains her low industrial base. Since the history of entrepreneurship in nigeria is the motive for this article, it is, therefore, reasonable that the term entrepreneurship is discussed in relation to how it affects and how its effects on nigeria has been so far since it came into existence. Impact of government policy on entrepreneurship development. Finally section 5 indicates the conclusion and recommendation of the study. The impact of entrepreneurship on economic development in. The solution was to make education a tool for national development. History of entrepreneurship in nigeria and government. Therefore, this paper examines how the role of entrepreneurship education and how it could help in job creation in nigeria. Pdf this paper underscores the importance of policy formulation in entrepreneurship. Eventually, after independence, nigerians became aware of the menace the colonial educational system has caused on entrepreneurship and economic growth. Entrepreneurship education is a means through which government could attain such development in the society.
The following research questions will be answered in order to identify and examine entrepreneurship development programme in nigeria and proffer solutions to them. Currently, there is little evidence that suggests that the potential and interests of this group are considered in the development of entrepreneurship in nigeria. Nigerian people exchanged these surplus products for something else they needed. The importance, how to, effect causes relationship, comparison, history, role, solutions are discussed. Challenges and opportunities daibi w dagogo, department of banking and finance, rivers state university of science and technology, nigeria. Given the generally held view that entrepreneurship development is the key to poverty eradication, employment generation and rapid economic development, various governments in nigeria have, over the past three decades, evolved policies and programmes, aimed at developing entrepreneurship through the development of small and. Impact of government policy on entrepreneurship development in nigeria. Role of entrepreneurs in nigerias development essay paperdue. Although there are a lot of barriers, entrepreneurship in nigeria is necessary for the country to become a. Borkowski and kulzick 2006 list the interplay between entrepreneurship and.
Entrepreneurship development in nigeria information. While the continents economic underdevelopment can create immense. That entrepreneurial development depends on three entrepreneurial skills, which affect positively the strategic management and. The great need for entrepreneurship development in nigeria today, more than ever, is necessitated by the rate of unemployment and its effect on both the people and the nation and the need for small and medium enterprises. Major opportunities in nigerian construction industry. Although there are a lot of barriers, entrepreneurship in nigeria is necessary for the country to become a developed nation. Centre for entrepreneurship development, yaba college of technology, lagos, nigeria sofoluwe, a.
This is owing to the fact that the profits made by entrepreneurs flows as an increase into the national income and thereby increases the nations gross domestic product gdp. The wealthiest african entrepreneur aliko dangote from nigeria, see. The topic of entrepreneurship cannot be overdiscussed as it is the foundation on which a country is built on. Nigeria is trying to actively promoting technology in its educational system with the use of the internet. The study also assesses the areas where the country has developed enterprise and innovations. The aim of this project is to provide both student who have. Entrepreneurship plays a vital role in the growth and development of our dear nation, and as a result of the consistent rise in the level of unemployment and the upward increase in the level of poverty in nigeria, it has become crucial for nigerians to quit searching for white collar jobs that are not available and start creating employment for themselves. There were eleven privately owned sawmills factories located in various parts of the city. Entrepreneurship is a must to national development, eradication of poverty, and employment generation. O department of educational management, university of ilorin, kwara state, nigeria abstract nigeria is a nation of paradox, blessed with enormous wealth, but larger proportion of the citizens live in abject poverty and face worsening unemployment. While nigeria faces significant barriers in becoming a more relevant body in the world economic field, its history of skilled entrepreneurship, and the aid that such entrepreneurship has given to the development of the country and its economic framework thus far proves to be a significant aid in looking toward the future. New insight has emerged regarding engagement with entrepreneurship in nigeria, which can improve efficiency as well as facilitate the development of contextual and effective policies. Nigeria and in other developing economies, as policies and programmes are implemented across.
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