DEVELOPMENT OF ENTREPRENEURSHIP IN NIGERIA:PROBLEMS AND PROSPECTS (A CASE STUDY OF SELECTED ENTERPRISES IN AKWA IBOM STATE)

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ABSTRACT

This study examined Development of Entrepreneurship in Nigeria: Problems and prospects, using selected enterprises in Akwa Ibom State as a case study. To accomplish the research objectives, the study adopted the survey research design while the convenience sampling technique was used to select fifty (50) respondents as sample size for the study. Instrument of the study was self-developed questionnaire and the forms were personally administered. Hypothesis was formulated to guide the study and data were analyzed using the chi-square (x2) statistical tool. The findings revealed that some of the roles of entrepreneurship development are: Stimulating economic growth, enhancing self-reliance thereby reducing unemployment and rural/urban migration, while insufficient funds for financing innovations, incompetent management and poor state of technological development are some of the challenges of entrepreneurship development in Nigeria. Possible solutions to entrepreneurship development challenges in Nigeria were identified as: providing constant training and low interest loan to entrepreneurs, carrying out massive infrastructural development to enhance awareness and participation in economic activities etc while the prospects of entrepreneurship development in Nigeria were: its development will contribute greatly to economic growth, enhance the exploitation of untapped industrial opportunities, encourage the appreciation of made-in-Nigeria goods and reduce the high rate of unemployment drastically. This paper has provided useful recommendations such as, entrepreneurs should be educated to acquire proper managerial skills and should be enlighten about the danger involved in family member intruding into the business operations, the government should provide and maintain adequate infrastructural facilities in both rural and urban areas to encourage entrepreneurs to operate successfully and adequate and constant power supply and good road network should be provided and maintained. It is believed that if this recommendation is implemented, entrepreneurship development will contribute positively to be economic development of Nigeria.

TABLE OF CONTENTS

                                                                                         PAGES

Title Page                       =       =       =       =       =       =       i        

Approval page               =       =       =       =       =       =       ii

Certification                            =       =       =       =       =       =       iii

Dedication                     =       =       =       =       =       =       iv      

Acknowledgements        =       =       =       =       =       =       v-vi

Abstract                         =       =       =       =       =       =       vii

List of Tables                 =       =       =       =       =       =       viii-ix

Table of Contents          =       =       =       =       =       =       x-xii

CHAPTER ONE

INTRODUCTION

  1. Background of the Study                  =       =       =       =       1-3
    1. Statement of the Problem                  =       =       =       =       3-4
    1. Objectives of the Study           =       =       =       =       4
    1. Research Questions                 =       =       =       =       5
    1. Statement of Hypotheses                  =       =       =       =       5-7
    1. Significance of the Study                  =       =       =       =       7-8
    1. Scope of the Study                            =       =       =       =       9
    1. Limitations of the Study                   =       =       =       =       9
    1. Organization of the Study       =       =       =       =       10
    1. Definition of Terms                 =       =       =       =       11-12

CHAPTER TWO

REVIEW OF RELATED LITERATURE

2.1     The Concept of Entrepreneurship Development  =       13-14

2.2     The Meaning of Entrepreneur and

Entrepreneurship =       =       =       =       =       =       14-16

2.3     Promotion of Entrepreneurship by

Government of Nigeria                     =       =       =       17-19

2.4     Contributions of Entrepreneurship to

the Economic Development of Nigeria.      =       =       19-21

2.5     The Risk and Constraints to

Entrepreneurship Development                  =       =       =       22-24

2.6     Prospects of Entrepreneurship in Nigeria   =       =       24-25

2.7     Importance of  Entrepreneurship      =       =       =       25-26

CHAPTER THREE

RESEARCH DESIGN AND METHODOLOGY

3.1     Research Design                      =       =       =       =       27

3.2     Population of the Study          =       =       =       =       28

3.3     Sample and Sampling Technique      =       =       =       28

3.4     Instrumentation                       =       =       =       =       29

3.5     Method of Data Analysis                  =       =       =       =       29-31

3.6     Problems of Data Collection   =       =       =       =       31-32

CHAPTER FOUR

DATA PRESENTATION, ANALYSIS AND INTERPRETATION

4.1     Analyses of Research Questions       =       =       =       33

4.1.1  Responses to Research Question One                  =       =       34-35

4.1.2  Responses to Research Question Two                 =       =       36-37

4.1.3  Responses to Research Question Three      =       =       37-38

4.1.4  Responses to Research Question Four                 =       =       39-40

4.2     Test of Hypotheses=      =       =       =       =       =       40

4.2.1  Test of Hypothesis One           =       =       =       =       40-43

4.2.2  Test of Hypothesis Two                   =       =       =       =       43-46

4.2.3  Test of Hypothesis Three                  =       =       =       =       46-49

4.2.4  Test of Hypothesis Four                   =       =       =       =       49-53

4.3     Discussion of Findings            =       =       =       =       53-58

CHAPTER FIVE

SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS

5.1     Summary of Findings              =       =       =       =       59-60

5.2     Conclusion                              =       =       =       =       61

5.3     Recommendations                             =       =       =       =       62-63

          References

          Appendix

          Appendix I

          Appendix II (Chart Analysis)