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STRATEGIES FOR PROMOTING ENTREPRENEURSHIP DEVELOPMENT IN NIGERIA

(A CASE STUDY OF AWGU LOCAL GOVERNMENT AREA)

 

ABSTRACT

The main aim of this study is to examine the strategies for promotion entrepreneurship in Nigeria. The major findings are: entrepreneurship promotion in Nigeria is done through financial, non-financial and fiscal support. Measures taken by the government to encourage entrepreneurship in Nigeria are; promulgation of decrease such as the Nigeria enterprise promotion decree of 1992 popularly known as in degeneration decree which come into being in 1974 helped to encourage Nigeria to take a better share in running of the economic activities of their country. Certain enterprises such as pools betting, garment manufacturing catering are exclusively reserved for Nigeria while in other they have adequate share in them. The problem of making capital available in terms of loans to indigenous enterprises to eased through governments directives to banks as regards lending more financial institution has been created by the federal and state government to provide long-term loans such as Nigeria industrial development bank, Nigeria Mortgage Bank, etc. such loan are backed by expert advice . the government provide incentive to industries such as importation bans, tax subsidy and tariff. The self employment loan scheme embarked on by the Nigerian federal government is to encourage young school leavers to initiate small business of their choice and the government provides financial assistance. The problems of technology and adequate knowledge of workers and lack of technological and managerial knowledge by management are being solved through the establishment of research institution such as Federal Institute of Industrial Research.

 

TABLE OF CONTENTS

CHAPTER ONE

1. INTRODUCTION                                               1
2. Background of The Study                                         1
3. Statement of the Problem                                 2
4. Purpose of the Study                                        4
5. Scope of the Study                                          5
6. Research Question                                           5
7. Significant of the Study                                    6
8. Limitation of the Study                                     7
9. Definition of Terms                                          8

References                                                      9

CHAPTER TWO

2.0  LITERATURE REVIEW                                       10

2.1  Definition and Concept of Entrepreneurship        

Development in Nigeria                                     10

2.2  Nature and Dimensions Entrepreneurship

Development in Nigeria                                     12

2.3  Strategies for Promoting Entrepreneurship

Development                                                  15

2.4  Institute Facing Arrangement for Promoting

Entrepreneurship Development in Nigeria            20  

2.5  International Financial Assistance                       22  

2.6  Challenges to Entrepreneurship Development

in Nigeria                                                        23

       References                                                      25

 

CHAPTER THREE

3.0  RESEARCH METHODOLOGY                               27

3.1  Research Design                                              27

3.2  Area of Study                                                  27

3.3  Population of the Study                                    28

3.4  Sample and Sampling Techniques                      28

3.5  Instrument for Data Collection                                 29

3.6  Validation of the Instrument                              30

3.7  Reliability of the Instrument                              30

3.8  Method of Data Collection                                 31

3.9  Method of Data Analysis                                   31

 

CHAPTER FOUR

4.1  Data Presentation and Data Analysis                   32

4.2  Data Analysis                                                  35

4.3  Analysis of Data from NAMSME’S Staff                44

       References                                                      49

 

CHAPTER FIVE

DISCUSSIONS OF FINDINGS, CONCLUSION

AND RECOMMENDATIONS                                        51

5.1  Discussion of Findings                                      51

5.2  Recommendations                                           52

5.3  Conclusion                                                      54

5.4  Suggestions for Further Studies                         55

 

       Bibliography                                                    56

       Appendix                                                        58

       Questionnaire                                                  59

CHAPTER ONE

 

INTRODUCTION

1.1  BACKGROUND OF THE STUDY

In many African countries government has played a significant role in determining the course of national development. Science (1960) the Nigeria National Development plans have laid great emphasis on public sector control of the economy. Ezeije 91998:26) this trend has generally distinguish the government as a major investor in business which otherwise should have been left to private investors. The general was that the fastest route to development playing a leadership role in entrepreneurship development.

In Nigeria, until recently government has participated extensively in business activities making every one look unto it as the provider of employment and welfare Ujam (2011:1).

Many Nigerian did not think of self determination as an alternative to government employment, however, the economic down turn of the economy changed. This situation as unemployment heightened in the mid – 1980’s, graduates and school leavers have not realize that the government is no longer ready to offer them employment, hence the current guest for entrepreneurship development short of themselves into various entrepreneurial ventures Ugbaja (2003:12) the government has shown much concern about the unemployment situation and has set up many institutions to assist in creating favourable climate for entrepreneurship development in the 21st century with the ongoing privatization programme. The new emphasis of self determination is in line with current policy of promoting private sector dominance. Nwatu (2003:18) to this end the government international agencies, organization and the world bank are now showing concern for and commitment to entrepreneurship development in Nigeria. It is against this background that this study is set to examine the strategies for promotion entrepreneurship development in Nigeria with a particular emphasis of Awgu local government Area.

 

1.2  STATEMENT OF THE PROBLEM

 The current emphasis on entrepreneurship development in Nigeria with a facing some constraints which are:

1. Lack of capital and credit for entrepreneurial activities.
2. Inadequate institutional support for rapid promotion for entrepreneurship development.
3. Lack of market incentive for entrepreneurs.
4. Inadequate entrepreneurship education and encouragement programmes.
5. Inadequate entrepreneurial opportunities for women and young people.
6. Lack of willingness (To take risk) in entrepreneurial and managerial acumen among Nigerians.

The factors constraints has increased entrepreneurship development in Awgu local government Area.

1.3  PURPOSE OF THE STUDY

The main purpose of this study is to examine the strategies adopted for entrepreneurship development in Awgu local government Area.

1. To examine what role international financial institution and organization play in promoting entrepreneurship development.
2. To examine the effect of Nigeria to become self employed.
3. To examine the entrepreneurship promotion measure introduced by the government.
4. To determine if a favourable and stable business climate has been created for entrepreneurship development.
5. To determine if these are entrepreneurship encouragement programme opportunities and incentives.