Effects Of Entrepreneurship Development In Nigeria

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PUBLIC-PRIVATE ENTREPRENEURSHIP DEVELOPMENT AND ECONOMIC GROWTH IN NIGERIA: 1995-2012
BY
ABDULMUMIN JIBRIN
THESIS SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR EXECUTIVE MBA, SBS SWISS BUSINESS SCHOOL.
MAY, 2014
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CHAPTER ONE
INTRODUCTION
1.1 Background of the Problem
Public-private entrepreneurship in Nigeria has been a subject of discourse and research for decades. The increasing rate of poverty, unemployment and other social problems has become worrisome to the government and to every well meaning Nigerian. The incidence of poverty in Nigeria is
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The fast pace of development recorded through entrepreneurship development in some nations like Malaysia, Indonesia, Brazil, China and India, among others, have clearly shown that development is driven by innovativeness, creativity and enterprise of the people and government. Unfortunately, Nigeria has not been able to achieve similar feats due to so many factors among which is Nigeria’s inability to convert its abundance human and natural re to develop its economy towards promoting growth, wealth creation and employment generation. This has made it imperative to encourage and promote entrepreneurship development especially by government.
1.2 Background to the study
Nigeria is endowed with entrepreneurship opportunities. However, the realizations of the full potentials of these opportunities have been dampened by the adoption of inappropriate policies at different times. Several intervention policies that were aimed at stimulating entrepreneurship development via small and medium scale enterprises among others have failed to achieve the desired goals. This can be seen as most indigenous entrepreneurs becoming distribution agents of imported products as opposed to building in-country entrepreneurial capacity for manufacturing, mechanized agriculture and other
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The crucial role of an entrepreneur has called for policy choice by various governments all over the world to increase the supply of available Entrepreneur. The roles of an entrepreneur outlined above have made it much more imperative in a developing country like Nigeria. The country is faced with challenges of unemployment and poverty amidst abundant opportunities which has remained untapped. One dimension of this problem is youth unemployment, which has exacerbated the poverty situation. Statistics from Bureau of Statistics puts unemployment rate at 16 per cent per annum between 2007 and 2009, while youth unemployment is put at 50 per cent. These statistics clearly portends a great danger to the growth and stability of Nigeria. In fact, most of the crises and instability plaguing Nigerian state today cannot be unconnected with the rising youth unemployment. The gravity of this problem is further enunciated in the 2012 budget which made the highest allocation of about $5.7 billion (N921.91 billion) to the defense and security sector. Hence, for a very long time to come, Nigeria would have to continue to seek ways of solving youth unemployment in other to bring about a steady growth and

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