Entrepreneurship Development in Nigeria: Prospects and Challenges

Posted: 24 Jun 2015 Last revised: 22 Aug 2015

See all articles by Amaka Metu

Amaka Metu

Nnamdi Azikiwe University - Department of Economics

Ebele Nwokoye

Independent

Multiple version iconThere are 2 versions of this paper

Date Written: June 23, 2015

Abstract

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

Suggested Citation

Metu, Amaka Gertrude and Nwokoye, Ebele, Entrepreneurship Development in Nigeria: Prospects and Challenges (June 23, 2015). Available at SSRN: https://ssrn.com/abstract=2622224

Amaka Gertrude Metu (Contact Author)

Nnamdi Azikiwe University - Department of Economics ( email )

Enugu-Onitsha Expressway
Nnamdi Azikiwe University
Awka, Anambra
Nigeria

Ebele Nwokoye

Independent ( email )

No Address Available

Here is the Coronavirus
related research on SSRN

Paper statistics

Abstract Views
1,683
PlumX Metrics