Acta Universitatis Danubius. Œconomica, Vol 14, No 7 (2018)

Entrepreneurship and the Economic Problems in Nigeria: An Empirical Investigation

Akeem Tunde Nafiu, Elijah E. Ogbadu, Suleiman Yakubu

Abstract


The study focused on the influence of entrepreneurship on unemployment and poverty rate in Nigeria. The study used survey research design, and equally gathered secondary data from both International Labour Organization and National Bureau of Statistics. The instrument used for gathering data was structured questionnaire. The study analyzed the data gathered through descriptive statistics, correlation and regression model. Finding shows inverse inter-operational behaviour between entrepreneurial practices and poverty level in Nigeria with significantly weak effect, and positive inter-operational behaviour between entrepreneurial practices and unemployment level in Nigeria with significantly weak effect. Finding further shows that four major factors (pull, passion to utilizing opportunity, knowledge-skill-ability and unemployment) are attributed to the weak entrepreneurial practices in Nigeria. The study concludes that though poverty level appears to be reducing at almost unnoticeable rate, unemployment level keeps increasing in a slow and steady rate alongside increase in entrepreneurial practice and engagement in Nigeria. This study therefore recommends that the four factors should be given solution attention as this will systematically affect the way entrepreneurship is practiced in Nigeria.

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