Theoretical Analysis of Entrepreneurship Challenges and Prospects in Nigeria

Ihugba, Okezie A.; Odii, Alex; Njoku, A.C.

doi:10.18052/www.scipress.com/ILSHS.16.21

ILSHS > Volume 16 > Theoretical Analysis of Entrepreneurship...

< Back to Volume

Theoretical Analysis of Entrepreneurship Challenges and Prospects in Nigeria

Removed due to plagiarism.

Full Text PDF

Abstract:

The success of generating income for majority of rural and urban dwellers with no formal paid employment highly depends on Entrepreneurship. They are the backbone of economic development all over the world and play important role for employment, income and societal changes, particularly in transition economies like Nigeria. This paper is concerned with the nature and the extent to which entrepreneurship in Nigeria has been developed so far, and outlines the initiative by government and also the main current and future challenges and perspectives for the development of entrepreneurship. The study revealed that such initiatives by government failed abysmally due to over bearing bureaucracies, corruption, inadequate and inefficient infrastructural facilities and maladministration. The paper concludes that entrepreneurship miracle in other country is an engine for job creation; innovation and diversity and Nigeria’s entrepreneurs have a long way to go before they can effectively drive changes in the economy and recommends that Government (policy makers) should genuine recognize the essence of entrepreneurship to economic development by providing the enabling environment for private sector led investment for economic development and also provide adequate infra-structural facilities (water, electricity, road network, communications etc.).

Info:

Periodical:

International Letters of Social and Humanistic Sciences (Volume 16)

Pages:

21-34

DOI:

https://doi.org/10.18052/www.scipress.com/ILSHS.16.21

Citation:

O. A. Ihugba et al., "Theoretical Analysis of Entrepreneurship Challenges and Prospects in Nigeria", International Letters of Social and Humanistic Sciences, Vol. 16, pp. 21-34, 2014

Online since:

November 2013

Authors:

Okezie A. Ihugba, Alex Odii, A.C. Njoku

Keywords:

Bureaucracies, Corruption, Economic Development, Entrepreneurship

Export:

RIS, BibTeX, Text

Distribution:

Open Access

This work is licensed under a
Creative Commons Attribution 4.0 International License

References:

[1] Agency Reporter (2012). Opportunities for young entrepreneurs. Punch Newspaper May 20.

[2] Anyadike N., Emeh I. E. J., Ukah F. O., Universal Journal of Education and General Studies 1(4) (2012) 088-102.

[3] Arizona L. C (2009). 'Nigeria: Fast Becoming Kidnappers' Den?,, Business Day, Wednesday, 2 December.

[4] Baumol W. J., Journal of Political Economy 98 (1990) 893-921.

[5] Cantillon R. (1931). Essai sur la Nature du Commerce en Général, London: Macmillan. First Published 1755.

[6] Casson M. (1982). The Entrepreneur. Oxford: Martin Robertson.

[7] Deloitte Touché Thomastor International (1995). The European Union and SMEs,, DTTI European SME Group.

[8] Duru M., Business and Management Review 1(1) 92011) 41-48.

[9] Ebiringa T. (2012). Perspectives: Entrepreneurship Development & Growth of Enterprises in Nigeria. Entrepreneurial practice review, Volume 2 Issue 2 Winter.

[10] Harper D. A. (2003). Foundations of Entrepreneurship and Economic Development. Published by Routledge 11 New Fetter Lane, London EC4P 4EE.

[11] Ihua U., Journal of Social Science 18(3) (200) 199-207.

[12] Kasper W., Streit M. E. (1998). Institutional Economics: Social Order and Public Policy. United Kingdom: Edward Elgar Publishing.

[13] Kirzner I. M., Journal of Economic Literature 35 (1997) 60-85.

[14] Kirzner I. M. (1989). Discovery, Capitalism and Distributive Justice, Oxford: Basil Blackwell.

[15] Knight F. H. (1921). Risk, Uncertainty and Profit, Boston: Houghton Mifflin.

[16] Leff N. A., Journal of Economic Literature 17 (1979) 46--64.

[17] McClelland D. C. (1961). The Achieving Society, Princeton: D. Van Nostrand.

[18] Obiajuru I. (2012). What the Nigerian entrepreneur needs to excel. Punch Newspaper, August 16.

[19] Oghojafor B. E. A, Okonji P. S., Olayemi O. O., Okolie J. U. (2011). Fifty Years of Entrepreneurship Development in Nigeria: Challenges and Prospects. 10th International Entrepreneurship Forum, Tamkeen, Bahrain, 9-11 January.

[20] Oghojafor Kuye, Sulaimon Okonji, Journal of Research in National Development 7(2) (2009) 9-17.

[21] Ogundele O. J. K. (2006) Entrepreneurship Studies and Development in Nigeria; A Major Omission,. Lagos Journal of Entrepreneurship and Technology Vol. I. Issue I.

[22] Olson M., Journal of Economic Perspectives 10 (1996) 3-24.

[23] Olutunla G. T. (2001). Entrepreneurship for Economic Development. 27th Inaugural Lecture of the Federal University of Technology, Akure, 26th April.

[24] Small and Medium Enterprises Development Agency of Nigeria (2009), National Report: Lagos.

[25] UNDP, (2006) Global partnership for development, UNDP Annual Report (2006).

[26] World Bank (2000), US World Report Washington, DC.

[27] Zimmerer T. W. R Scarborough (2006). Essentials Entrepreneurship and Small Business Management,, New Delhi Prentice-Hall of India.

[28] http://allafrica.com/stories/200808150707.html.

[29] http://EzineArticles.com/?expert=Peter_O_Osalor.

[30] http://www.internationalentrepreneurship.com/africa/nigeria.

[31] http://www.strategicbusinessteam.com/international-business/the-cost-and-challenges -of-doing-business-in-nigeria.

[32] Tomáš Hes, Anna Poledňáková, International Letters of Social and Humanistic Sciences 2 (2013) 18-31.

[33] Mohsen Mehrara, Masoumeh Zirak, International Letters of Social and Humanistic Sciences 2 (2013) 32-38.

DOI: https://doi.org/10.18052/www.scipress.com/ilshs.2.32

[34] Taiwo Adewale Muritala, Ismail O. Fasanya, International Letters of Social and Humanistic Sciences 2 (2013) 39-50.

DOI: https://doi.org/10.18052/www.scipress.com/ilshs.2.39

[35] Goran Rajović, Jelisavka Bulatović, International Letters of Social and Humanistic Sciences 4 (2013) 11-21.

DOI: https://doi.org/10.18052/www.scipress.com/ilshs.6.24

[36] Petter Gottschalk, Lars Glasø, International Letters of Social and Humanistic Sciences 4 (2013) 22-34.

[37] Petter Gottschalk, International Letters of Social and Humanistic Sciences 5 (2013) 17-26.

[38] Paul Bukuluki, International Letters of Social and Humanistic Sciences 5 (2013) 27-44.

[39] Mohsen Mehrara, Maysam Musai, International Letters of Social and Humanistic Sciences 5 (2013) 55-62.

[40] Debiprasad Mukherjee, International Letters of Social and Humanistic Sciences 6 (2013) 41-48.

[41] Goran Rajović, Jelisavka Bulatović, International Letters of Social and Humanistic Sciences 6 (2013) 49-61.

DOI: https://doi.org/10.18052/www.scipress.com/ilshs.3.37

[42] Mohamad Khaledian, Galavizh Khaledian, Jabar Sadeghi, Reza Keyhanihekmat, International Letters of Social and Humanistic Sciences 6 (2013) 62-67.

DOI: https://doi.org/10.18052/www.scipress.com/ilshs.6.62

[43] Rajesh K. Yadav, Nishant Dabhade, International Letters of Social and Humanistic Sciences 8 (2013) 77-85.

DOI: https://doi.org/10.18052/www.scipress.com/ilshs.8.77

[44] Jacek Tittenbrun, International Letters of Social and Humanistic Sciences 11 (2013) 10-34.

[45] Mohsen Mehrara, Hamid Abrishami, Mostafa Boroujli, Mahan Amin, International Letters of Social and Humanistic Sciences 11 (2013) 76-83.

DOI: https://doi.org/10.18052/www.scipress.com/ilshs.11.76

[45] Jacek Tittenbrun, International Letters of Social and Humanistic Sciences 2 (2014) 20-40.

[46] Rabi'u Muhammad Ishaq, International Letters of Social and Humanistic Sciences 3 (2014) 37-44.

[47] Bahram Meihami, Hussein Meihami, International Letters of Social and Humanistic Sciences 3 (2014) 80-91. ( Received 30 October 2013; accepted 05 November 2013 ).

DOI: https://doi.org/10.18052/www.scipress.com/ilshs.16.35

Show More Hide

Cited By:

[1] D. Ahmed, G. Alae, "Entrepreneurship and its link to corruption: Assessment with the most recent world and country-group data", Journal of African Studies and Development, Vol. 8, p. 13, 2016

DOI: https://doi.org/10.5897/JASD2015.0361