The Role of Government in Entrepreneurship Development in Nigeria (original) (raw)
Related papers
Entrepreneurship Development in Nigeria: Prospects and Challenges
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. Key words: development, economy, employment, environment, entrepreneurship
Entrepreneurship Development in Nigeria: a Socio-economic, Political and Security Perspective 1 2
The importance of entrepreneurship to any state and its socio-political, economic, societal thrive and stability cannot be over emphasized. Entrepreneurship is thus, a major segment in every state's socioeconomic and sustainable development which provides substantial employment, growth and development to the economy, socioeconomic stability of a state and enhances proper exploitation/harnessing of both human and material resources. States with less or poor entrepreneurship drives and harnessing are likely to have poor economic performance and also encounter more socioeconomic , political turbulences. Nigeria, whose economy is developing, is in shackles of poor entrepreneurial drives, harnessing and performance due to several institutional and other factors; it is already hit by unemployment and poverty. This study explores these predicaments which have over the years negatively affected the performance of entrepreneurship in the Nigerian economy as well as impacting negatively on Nigeria's strive to curb unemployment and trigger socioeconomic development. The study used secondary sources to gather data. It is found that states and economies only succeeds in overcoming unemployment when entrepreneurship opportunities are optimally explored and harnessed, unsustainability of most entrepreneurial establishments and policies, poor government and private entrepreneurial policies and shortage of or poor funding are the banes of Nigeria's and Nigerians' entrepreneurial drives over the years. The study recommended among others comprehensive design and implementation of entrepreneurship policies and programmes in both public and private sectors, qualitative and sustained entrepreneurial education, inculcation of entrepreneurship practical skills, adequate provision and proper channeling of funds in both public and private sectors towards entrepreneurial establishments, supports and sustainance, filling the major gap existent between theory and practice of entrepreneurship in Nigeria especially in the educational institutions, institutional minimization of risks involved in entrepreneurship drives, optimum exploitation of initiatives especially among the youth and proper orientation to students on the significance of entrepreneurship drives to economic and http://internationalpolicybrief.org/journals/international-scientific-research-consortium-journals/intl-journal-of-entrepreneurial-development-vol3-no2 http://internationalpolicybrief.org/journals/international-scientific-research-consortium-journals/intl-journal-of-entrepreneurial-development-vol3-no2 http://internationalpolicybrief.org/journals/international-scientific-research-consortium-journals/intl-journal-of-entrepreneurial-development-vol3-no2
158 | P a g e Entrepreneurship, Public Policy and Poverty Reduction in Nigeria
2015
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...
Entrepreneurship: Issues and Solutions Evidence From 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 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. Keywords: Micro, small and medium enterprises (MSMEs), GDP growth rate, Narrative-Textual Case Study (NTCS) and interview.
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.
The Effect of Policy Measures on Entrepreneurship Development Analysis of Nigeria's Experience
This research focus to investigate impact of policy measures in entrepreneurship development in Nigeria. Research method adopted were mainly secondary sources derived from archival data such as: Thesis publications, scientific journals publications, African statistical year book, and World Fact-book, among others. Nigeria's entrepreneurs have experienced difficulties in doing business due to: Managerial challenges, technological problems, lack of credit facilities, lack of basic amenities or infrastructural facilities, lack of power supply; inconsistencies in government policies, political instability (Boko Harram Insurgence), lack of patronizing made in Nigeria products among others. To address entrepreneurship development problems, government has introduced programs such as; World Bank SMEs 1 and 2 Loan Scheme, National Economic Reconstruction Fund (NERFUND), Peoples and Community Bank, Nigerian Bank of Commerce and Industry (NBCI), Export Processing Zone (EPZ), National Poverty Eradication, Advisory Agencies, few to mention about. Findings reveal that, these policy measures have played insignificant role in entrepreneurship development instead they work only on white papers and used by some corrupt government officials to embezzle national treasury. Nigeria being gifted with large reserves of natural resources is expected to build a thriving and vibrant economy, to reduce poverty level, and provide health, education and infrastructure services to meet with the demands of the teeming population and other African countries and the entire world at large. Based on findings, study recommend that government should borrow a leaf from Giant Asian countries to implement death sentence on corruption practices to serve as a deterrent for individuals to learn their lessons. Again, government should introduce monitoring unit to oversee activities of entrepreneurship projects development funds and disbursement processes; government should partner with other world agencies to encourage regular, seminars; research and development to boost entrepreneurial capacity and productivity.
Entrepreneurship Development in Nigeria: A Review
IOSR Journal of Business and Management, 2014
Empirical researchers and policy makers have shown increasing interest in entrepreneurship and its association with economic development. In the literature, a good number of studies have established positive relationship between entrepreneurship and employment generation, poverty alleviation and economic 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, widespread poverty and low level of economic development. Unfortunately, the various policies and programmes have failed to achieve the desired results. This paper attempts to 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 the treatment of all small businesses as entrepreneurial constrains the development of entrepreneurship in Nigeria and in other developing economies, as policies and programmes are implemented across the board. It canvasses a distinctive categorization to distinguish entrepreneurial firms from non-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 economic development. Other group of challenges identified by empirical studies, which militate against the development of small businesses, entrepreneurial and non-entrepreneurial, should be properly addressed. These include environmental hazards, infrastructural inadequacies, high level of insecurity and the incidence of widespread corruption.
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.
International Journal of Advanced Research in Engineering & management (IJAREM) ISSN: 2456-2033 \\ PP. 26-31, 2018
Abstract: Poverty in Nigeria is wide spread and deep. Causal evidence of the growing intensity of poverty in the country can be glimpse from using incidence of mass unemployment, urban vagrancies and homelessness. The country generates new entrants into the labour market each year thereby leading to increase in unemployment and no country would allow this episode to uninterruptedly proceed without mitigation. The objective of the study is to examine government effort in tackling the problem of poverty and unemployment and to provide ways of tackling these problems through entrepreneurship practice. The methodology used was secondary data and the information gleaned from these sources were weighed using both deductive and inductive reasoning. It was recommended that there should be sustainability and synergy of all programmes and policies aimed at addressing the problem of poverty and unemployment, so as not to be disrupted for political reasons. Keywords: poverty, entrepreneurship, unemployment sustainable, job, development.
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