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Entrepreneurship, Public Policy and Poverty Reduction in Nigeria
The objective of this paper is to highlight the importance of entrepreneurship and public policy toward poverty reduction in Nigeria. Entrepreneurship has proven to be a mechanism for poverty reduction through creation of employment opportunities, income as well as wealth. In some occasion entrepreneurs exploit opportunities at the expense of the existing policy to engage in activities that are not economically and socially productive. They neither create wealth nor do they improve on the economic performance of a country. The author conducted survey and interview to solicit for data from small and micro enterprises across Kano state and also used secondary information in analysing the situation in the country. Infrastructural decay, lack of coherent policies and institutional framework were partly responsible for escalating poverty in the Nigeria. Therefore, it is recommended that the government while designing a policy toward entrepreneurship attempt should be made to identify and encourage high impact entrepreneurs that will genuinely contribute in creating real jobs and poverty reduction.
ISSUES AND CHALLENGES OF POVERTY ERADICATION THROUGH ENTREPRENEURSHIP DEVELOPMENT IN NIGERIA
The paper examines poverty in the context of Nigeria. It thus, appraised various government efforts and approaches used in eradicating (or alleviating) poverty in the country as well as the success or otherwise of such measures. Focusing mainly on secondary sources of data, relevant government publications and previous researches on poverty in the country and across the globe were consulted and reviewed towards drawing inference. The study observed that the failure of previous government measures towards poverty alleviation in the country was as a result of wrong diagnosis of the problems as well as inconsistency on the part of government coupled with various pro-poverty measures put in place by government at various levels in the country. Conclusively, the paper enjoin the government at various levels to take holistic view of all poverty measures in place, and that entrepreneurship may not reduce or eliminate poverty in the country unless and until the basic and underlying causes of poverty are addressed comprehensively. It also recommended the resuscitation of technical colleges and bridging the existing polytechnic and university dichotomy in the country among others. Keywords: Poverty, entrepreneurship, poverty alleviation, economy and Nigeria.
Entrepreneurship Practice: As a Means of Poverty Reduction in Southwestern Nigeria
Business Ethics and Leadership
The main purpose was to examine and analyze the strong impact of entrepreneurship practices on poverty reduction in Southwestern Nigeria. This poverty issue has become households name in Nigeria, and despite various economic development polices and many different strategic policies designed to reduce poverty through human and highly capital development. Also, most economist guru in Nigeria has forecasted that, if government can make proper use of an entrepreneurship practices in all business sectors of their economy, poverty will be a thing of the past in Nigeria. These set of people view entrepreneurship practices as a business, which will involve suitable set of people who are fully ready to take risks in all their business activities. Ready prepared to identify every business opportunity and obtain materials, plan, and implement workable action that will achieve the business expectation. Data collection was done by interview, in-depth discussion with respondent. The study of this nature require highly proper interview in order to get desire results. Field note, and documentation are also used to complement the interview in order to get desired result. Pure and table water industry business owners are only key respondent in this study. Descriptive Statistics and Partial Least Square (PLS) analysis are method of data used. The reason why researcher is using this method is that it will easily show if entrepreneurship practices can solve poverty issue or not. The finding revealed that entrepreneurship practices have highly positive impact on poverty reduction in Southwestern Nigeria. Enterprise business operators are prospering well, but still need optimized entrepreneurial competency in all their activities to achieve the desired result. The result strongly indicates that in Nigeria, the Entrepreneurship practices are most antidote to poverty reduction and job creation at this moment that Nigeria is technically moving out of the economic recession.
ENTREPRENEURSHIP DEVELOPMENT AND POVERTY REDUCTION IN NIGERIA: THE SYNERGY
International Journal of Economics, Commerce and Management , 2019
Poverty in Nigeria is not something new and is quite disturbing. Both the quantitative and qualitative measurements attest to the growing incidence and depth of poverty in the country. This situation however, contrasts with the vast human and physical resources that the country is endowed with. It is even more disturbing that despite the huge human and material resources that have been devoted to poverty reduction by successive governments in Nigeria, no noticeable success has been achieved is this direction. This is attributable mainly to the lack of entrepreneurial leadership in Nigeria. This paper underscores the synergy and importance of entrepreneurship as a realistic mechanism for poverty reduction in Nigeria for efficient and sustainable economic growth, balanced regional development, job creation and changing life
The aim of this paper is to examine the significance of policy formulation in entrepreneurship development in Nigeria as well as the importance of entrepreneurship in reducing the evergrowing rate of unemployment and poverty in Nigeria. The paper discovered 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
Entrepreneurship and Poverty Reduction in Nigeria: An Empirical Analysis
2015
This study empirically examined the impact of entrepreneurship training and education on poverty reduction in Nigeria. The researcher adopted a stratified random sampling technique, 500 entrepreneurs and apprenticeships were chosen from six recognized Local Government in Lagos State. The best linear unbiased estimator was used to test the relationship between entrepreneurship training and poverty reduction Nigeria. The result emanated from the findings suggests that there exist a positive and significant relationship between entrepreneurship and poverty reduction and this was confirmed by the value of R 2 the coefficient of determination. The study therefore recommends that the government should be wary of encouraging entrepreneurship training in all level of government as well entrenching it primary schools, tertiary institutions and inculcating it in the National University Commission curriculum.
Entrepreneurship as a viable tool for poverty reduction in Nigeria
International Journal of Commerce and Management Research, 2018
This paper investigated entrepreneurship as a viable tool for poverty reduction in Nigeria. The paper adopted a quantitative research design, and the data was collected using a self-administered questionnaire. Data were gathered through a survey using a structured questionnaire with a sample of size of 335 entrepreneurs. The respondents were selected using a systematic random sampling method from the sampling frame of 2,600 entrepreneurs. SmartPLS 3.0 (M3) with path modeling and bootstrapping was used to examine the standard error of the estimate and t-values. The findings suggest that only entrepreneurship education and attraction dimension of entrepreneurship was significantly related to poverty reduction. Whereas intention and Knowledge were not related to poverty reduction in the country. Potential limitations of the study, practical implications of the findings, and directions for future research are highlighted. Keywords: practical implications and directions for future research are provided
Effect of Entrepreneurship Development on Poverty Alleviation in Nigeria
2018
Entrepreneurship is considered as an alternative way to tackle some of the socio economic problems that bedeviled some countries presently, especially problem of high unemployment and poverty. Entrepreneurship is a process undertaken by the government to reduce the level of poverty in the economy. Entrepreneurship development is the process of enhancing entrepreneurial skills and knowledge through structured training and institutional building programmes focused on individuals who wish to start or expand a business. One of the major challenges facing developing and underdeveloped countries of the world is poverty. It has been so endemic as a result of the high rate of unemployment that has become the major characteristic of the developing and underdeveloped countries of the world. The study focused on the effect of entrepreneurship development on poverty alleviation in Nigeria. The specific objectives of the study are to examine the effect of entrepreneurship training and education ...
Entrepreneurship and Socio-Economic Development: The Case of Nigeria
Empirical researchers and policy makers have shown increasing interest in entrepreneurship and its association with socioeconomic development. In the literature, a good number of studies have established positive relationship between entrepreneurship and employment generation, poverty alleviation as well as socioeconomic development. It is for this reason that various governments in Nigeria over the past three decades implemented a number of policies and programmes aimed at addressing the high rate of unemployment, wide spread poverty and low level of socioeconomic development. Unfortunately, the various policies and programmes have failed to achieve the desired results. This paper attempts to enumerate the roles and importance of entrepreneurship in the socioeconomic development of Nigeria as well as identify the causal factors that militate against the effectiveness of government efforts at entrepreneurship development. Major government programmes are examined to identify inherent weaknesses. Supported by empirical and theoretical literature, this paper asserts that a good treatment of all small businesses as entrepreneurial ventures will enhance the development of entrepreneurship which consequently affects the socioeconomic development in Nigeria as policies and programmes are implemented across the board.It furthercanvasses a distinctive categorization to distinguish entrepreneurial firms from none-entrepreneurial small businesses and the development and implementation of policies and strategies that are suitable for each class of small businesses.While all small businesses need support, entrepreneurial firms need higher level of support to enable them play their catalytic role in employment generation and socioeconomic development. Other groups of challenges identified by empirical studies, which militate against entrepreneurship development were highlighted. These include environmental hazards, infrastructural inadequacies, high level of insecurity and the incidence of wide spread corruption.
2013
This study assessed the impact of entrepreneurship skill acquisition on poverty in Kogi State of Nigeria. The study made use of primary data collected with the aid of a well structured questionnaire which were administered by well trained enumerator to beneficiaries of entrepreneurship acquisition skills randomly sampled from six Local Government Area of the state. The data collected through the questionnaire was analyzed using descriptive statistics like frequencies and percentages. The result shows that 65% of the respondents accepted that lack of entrepreneurship skills among youth is responsible for the high rate of poverty in Nigeria. The result also revealed that at least 60% of the people that benefitted from the skill acquisition programme can now afford the basic necessity of life. The study therefore recommended that since most of the people that benefited from the programme could afford the basic necessity of life, the government should begin to think of the way of develo...