The Politics of Socio-Economic Empowerment in India: A lesson for Nigeria (original) (raw)
Related papers
Entrepreneurship as Drivers of Growth, Wealth Creation and Sustainable Development in Nigeria
Socioeconomica, 2015
Entrepreneurship is a veritable tool for the achievement of inclusive growth and consequently sustainable development. There are many opportunities entrepreneurs can harness in Nigeria given the demographic dividends. In fact, the youths constitute about 60 percent of the Nigerian population. Opportunities include but not limited to agriculture, creation of place utility for manufactured products (toiletries, beverages among others), repairs and servicing of mobile phones, computers, generators, cars etc. However, because of the deplorable state of wellbeing in the country, a sizeable number of youths are now being employed as touts and thugs by politicians to cause chaos at rallies. The rising wave of crimes in the form of electoral malpractices, commercial violence or economic terrorism and motor park rent seeking among others are common cases to ponder. The huge infrastructure deficits (road, power, water etc.), inadequate access to credit and disastrous policy regime constrain entrepreneurial development in Nigeria. The study therefore recommends public-private partnership in wealth creation towards achieving enhanced and sustainable economic wellbeing. There is the need to fight corruption heads on by taking the fight to the grassroots. Government should put entrepreneurs at the centre of trade and commerce policy formulation and implementation.
Inclusive Growth And Entrepreneurship Development In Nigeria
International Journal of Social Sciences, 2019
INCLUSIVE GROWTH AND ENTREPRENEURSHIP DEVELOPMENT IN NIGERIA MURAT, Akyuz Department of Business Administration Nile University of Nigeria murat.akyuz@nileuniversity.edu.ng Opusunju, Michael Isaac opusunjumike@gmail.com Department of Business Administration Nasarawa State University, Keffi JIYA, Ndalo Santeli Department of Business Administration Nile University of Nigeria jiyasant@yahoo.com Abstract The study examines the impact of inclusive growth on entrepreneurship development in Nigeria. The problem is that government of Nigeria put on successive plan for entrepreneurship development in Nigeria yet there is high rate of unemployment and poverty and low gross domestic product in Nigeria. The research design is historical research design. The study used secondary source of information from Central Bank of Nigeria and National Bureau of Statistics as well as the entire population of Nigeria. The population of this study is 17878 beneficiaries of entrepreneurship training. The proxy is used for entrepreneurship development is entrepreneurship training and proxies used for inclusive growth are poverty level, gross domestic product and unemployment rate. The period of study is 35 years from 1981 to 2016. The statistical tools used are regression and correlation as well as unit root test to correct the spurious error in the sense that data is not normally distributed in the study. The study used excel and e-view statistical package of 9.00 to analyse the data. The data were stationary at level and first difference. The finding is that there is long run relationship between entrepreneurship development and inclusive growth in Nigeria. Other findings were that there is a directional relationship from poverty index and entrepreneurship training in Nigeria. Unemployment rate has directional relational relationship with entrepreneurship training. Also, unemployment rata has a directional relationship with poverty index in Nigeria. The study suggests that entrepreneurship development in the form of entrepreneurship training should constantly be considered in Nigeria by different authorities, such institutions like schools and learning centres since it contributes to poverty, unemployment in Nigeria. Keywords: Entrepreneurship development, entrepreneurship training, inclusive growth, unemployment rate, poverty index Akyuz, M., Opusunju, M. I., & Jiya, N. S. (2019, March). Inclusive Growth And Entrepreneurship Development In Nigeria. International Journal of Social Sciences, 3(15), pp. 83-99. https://drive.google.com/open?id=1IbesCFXghtwsFuJCkoj9qwNg-00iNTdj
THE EFFECT OF ENTREPRENEURSHIP ON ECONOMY GROWTH AND DEVELOPMENT IN NIGERIA
This paper discusses the evolution and current development of principles and practice of entrepreneurship in Nigeria. It also examines the effect of entrepreneurship in fostering economic growth and development. The methodology adopted was the narrative-textual case study (NTCS) method, which is preferred because of the absence of sequential data related to entrepreneurship and sustainable economic growth in Nigeria. However, interviews were also conducted. We used simple percentages, graph and chart in analyzing and interpreting the collated secondary data. We found that Nigeria's economy has continued to grow over the last decade-with the real GDP growth rate hovering around 7%. It was also found that entrepreneurship can enhance economic growth and development primarily by generating employment and foster the growth of micro, small and medium enterprises in Nigeria. We recommend that there should be proper policy coordination and policy stability; reforms in the educational curriculum to prepare students for self-reliance; and fixing the power sector-Nigeria's basic infrastructure. When we have flourishing micro, small and medium enterprises (MSMEs), gainful employment will be created, wealth created will be distributed evenly and economy is developed.
Entrepreneurship plays a vital role in the economic development of any country, and Nigeria is no exception. The country's vast population and natural resources makes it an ideal market for entrepreneurship to thrive. However, Nigeria has been facing several economic and political challenges recently, making it difficult for entrepreneurs to succeed. Despite this, entrepreneurship remains an essential aspect of Nigeria's economy and has the potential to drive economic growth and development.As a catalyst ,this greatly aims to launch Nigeria into the league of developing nations otherwise known as Emerging market economies yet the challenges which stare this vision in the face are enormous and only resilient strides capable of reducing or controlling such impediments can guarantee our steady ride to becoming an emerging economy.Entrepreneurship creates jobs and reduces unemployment. The following statistics present the reality of the task that lies ahead of making our country true robust and working economy ,Emerging Economy; Weak job creation and entrepreneurial prospects stifle the absorption of the 3.5 million Nigerians entering the labor force every year, and many workers choose to emigrate in search of better opportunities. The poverty rate is expected to reach 37% in 2023, with an estimated 84 million Nigerians living below the poverty line-the world's second-largest poor population after India. Spatial inequality continues to be large, with the best-performing regions of Nigeria comparing favorably to upper middle-income countries.Small and medium-sized enterprises (SMEs) are the backbone of the Nigerian economy and are responsible for creating a significant number of jobs. According to the Nigerian National Bureau of Statistics, SMEs make up more than 90% of businesses in Nigeria and employ over 70% of the country's workforce. Entrepreneurship, therefore, plays a critical role in reducing unemployment and poverty in Nigeria.This study tries to find out the roles of these entrepreuships ,challenges,efforts by government ,results and profer lasting solutions to sustainable growth and economic freedom.
Entrepreneurship's Impact on India's Economic Growth an Evaluation
Purakala, 2023
Entrepreneurship, which is the process of creating or removing value, is crucial for economic expansion. It acts as the center of the spark that starts the economy. Through making the most of available resources to generate wealth and income for the nation, entrepreneurship helps to boost the economy and rise the per individual income and the net national product of the nation. This industry consists of first-generation business owners, startups, and SMEs. With business, value can be added or taken away. Entrepreneurship improves living conditions, makes it easier to obtain goods and services, and promotes economic expansion. Due to its positive effects on capital formation, employment creation, living standards, wealth creation, per capita income, export trade, and nationwide development, entrepreneurship has a positive impact on economic growth. Entrepreneurship is a skill set that can be applied to both large and small companies and is a combination of money, technology, and human talent. By establishing new businesses, bringing about employment growth, and enhancing indicators like Gross Domestic Product (GDP), exports, and standard of living, it promotes economic growth. To increase local wealth, diversify the economy, promote employment growth, and broaden the tax base, economic development is an endeavor. To increase the effectiveness of the investigation, secondary data is gathered and summarized with a thorough and analytical emphasis. This research paper mainly focuses on the impact of entrepreneurship on Indian economic growth with the help of secondary sources of information and statistical data pertaining to the theme of the research article. Therefore, this study seeks to assess how entrepreneurship has impacted India's economic growth from a social, political, and economic perspective.
European Journal of Business and Management, 2020
Entrepreneurship as it is widely believed is a fueling developmental hub and cause of financial progression of any given economy. The general Entrepreneurial activities have been found to be proficient of creating optimistic and progressive impacts towards nation's economy and improved class of life expectancy of the people. This study based on this, sourced to look at the entrepreneurship as a catalyst and instrument of progress and improvement in Nigeria economy. The study make used of the secondary data and the outcome signposts that entrepreneurship has immensely contributed significantly to the employment generation and growth of Nigerian economy. Some of the major observation is that entrepreneurship development has massively enhanced job creation. And, however consequently lead to economic development. It is recommended that Nigerian should advance more especially some other economic opportunities while government should ensure the enabling environments for purposeful development of entrepreneurship practices.
Entrepreneurship and Its Impact on Economic Growth: An Indian Perspective
Journal of Entrepreneurship and Management, 2019
Individuals who create business and employment are entrepreneurs. Entrepreneurship is actually the ability to develop and sustain a business associated with risk, and ultimately make profit. Every entrepreneur aims to make profit for his own concern. Entrepreneurship is also associated with conversion of new innovation and technology into business, which ultimately generates employment and profit in the economy and thus the entrepreneurs contribute towards the growth of an economy. According to Schumpeter, innovation in business is the primary reason for increased investment and business ups-and-downs in an economy. Recently, women entrepreneurship in India is also making a mark in the society. Indian women have started taking initiative to make a start-up and start their career as entrepreneurs with small businesses and they are having success in their field as well. This means women in our society are progressive and capable of sustaining a business, which in turn helps in economic growth. Hence, the study also focuses on the women entrepreneur’s contribution to the society. Along with this, the paper has also tried to focus on the growth aspects of entrepreneurship and its impact on the society and economy. Innovation in business improvises it as well as the role of the entrepreneur. It helps entrepreneurs to take decision to implement these new innovations in the business by taking risk and uncertainty. The paper will also highlight on this aspect of use of innovation by entrepreneurs in business expansion and analyse its impact on the sustainable growth of Indian economy.
Examination of the Contribution of Entrepreneurship Development on Nigeria’s Economic Growth
Nigerian economy which is characterized by the by heavy dependence on oil, low agricultural production, high unemployment, low utilization of industrial capacity, high inflation rate, and lack of industrial infrastructural base. These constraints limit the rate of growth of entrepreneurial activities in Nigeria. Hence, this paper seeks to investigate the contribution of entrepreneurship development in Nigeria to the Nigerian economy. In this study, both descriptive and explanatory methods otherwise referred to as Narrative-Textual Case Study (NTCS) methodology was used. This method is preferred because of the absence of sequential data related to entrepreneurship development in Nigeria. This study employed the secondary data from statistical records of the Central Bank of Nigeria (CBN) from 1999 to 2015. Findings from the study shows that in the past seventeen (17) years (199-2015), while the percentage contributions of agriculture and industrial subsectors in GDP recorded declining trends from 1999 to 2015, contribution of the construction and services subsectors to GDP recorded growth and shows upward sloping trends. In line with economic theory that a rise in the productive activities of entrepreneurs will increase the total output of goods and services produced in the country and lead to an increase in the GDP position of the country, these implies that the declines in the productive activities of entrepreneurs in the agriculture and industrial subsectors decreased the total output of goods and services produced in the country and led to a decrease in the GDP while the growths recorded in the services and construction subsectors suggest increases in the activities of entrepreneurs and will bring about increases in the total output of goods and services produced in the country as well as an increase in the GDP. The study thus recommends the tackling of problems impeding the development of SMEs in Nigeria. Some of the principal problems SMEs face in Nigeria include the following: inadequate funding, inadequate infrastructural facilities, low capacity utilization perpetually gotten from the low demand for SMEs products owing to their poor quality as well as exorbitant prices, raw material management and choice of appropriate technology. All these are fundamental for growing and developing any business, be it large or small which if confronted can drive them to promote economic growth and development.
Entrepreneurship: The Cure for Economic Underdevelopment in Nigeria? A Theoretical Perspective
Scholars and development economists believe that the development of an economy depends largely on the creative and innovative ingenuity of its entrepreneurs. Others however, are of the opinion that the lack of entrepreneurs or entrepreneurial activities is not a constraint to economic development in any economy, particularly Nigeria. This paper sets out to explore the connectivity between entrepreneurship and economic development from a theoretical point of view, principally in Nigeria. A desk research approach was adopted where a conglomerate of literatures were reviewed on how entrepreneurship can spur economic growth or otherwise. The findings reveal that entrepreneurship is vital to the development of Nigeria and that, universities and other Higher Education Institutions must play the vital role of educating the people on entrepreneurship skills and competences. However, the challenges and difficulties facing entrepreneurs are the same challenges stifling the growth of the economy. Therefore, entrepreneurship cannot be said to be the sole cure for economic growth but rather other factors such as the strengthening of institutions and provision of developmental infrastructures like good transport system, roads, electricity and effective implementation of economic policies etc., the cultural beliefs and mindset of the citizenry was also found to be key in the development of any economy.
Utilization Entrepreneurship for Job Creation, Poverty Reduction and National Development
The journal of social sciences research, 2020
Entrepreneurship has become a tool for uplifting nations and improving their socioeconomic development for the benefit of all citizens. This has worked for Western capitalist economies and the newly industrialized countries (NICs). In Africa there is less reliance on entrepreneurship as an engine of economic growth and development which has led to unemployment pervasive poverty and underdevelopment. The paper examined how entrepreneurship can help to speed up socioeconomic development in Nigeria and reduce reliance on unsuccessful Western backed neoliberal development strategies. The data of the study were sourced from array of both published and unpublished materials such as textbook, journal papers, newspapers, magazines, conference papers and seminar papers and internet material. The paper argues that Nigeria cannot develop without utilizing entrepreneurship as the cornerstone of its development strategy. Furthermore, the paper sees entrepreneurship as crucial to developing indigenous capacity in technology, manufacturing and export trade. It recommends development and implementation of local solutions to developmental problems, effective implementation of development policies, and credit provision to local entrepreneurs and creation an enabling environment for production and trade, and capacity development of Nigerian youth through technical and vocational training.