Entrepreneurship Development in Nigeria: Prospects and Challenges
International Conference on Entrepreneurship: Strategy for Socio-Economic advancement in Emerging Economies, organized by the Department of Business Administration, Faculty of Social and Management Sciences, Bowen University Iwo, 28-30th May 2014.
14 Pages Posted: 3 Jun 2019
Date Written: June 23, 2014
This paper underscores the importance of policy formulation in entrepreneurship development in Nigeria as well as the importance of entrepreneurship in reducing the ever-growing rate of unemployment in Nigeria. The methodology adopted for this paper is the narrative-textual case study (NTCS); it is a social science research method that relies on information and data from several sources for problem identification and problem solving. 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 willed-power to take risk; all these and more inhibit entrepreneurship development and creates unemployment. The paper concludes that government policy on entrepreneurship should be more robust and that government should create conducive business environments to enhance entrepreneurship development and reduction in youth unemployment.
Keywords: development, economy, employment, environment, entrepreneurship
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