STRATEGIES FOR PROMOTING ENTREPRENEURSHIP DEVELOPMENT IN NIGERIA (A STUDY OF ENUGU STATE)
1.1 BACKGROUND OF THE STUDY
In many African countries government has played a significant role in determining the course of national development since 1960 the Nigerian National Development plans have laid great emphasis on public sector control of the economy Ezeife, (1998:26) This trend has generally, distinguished the government as a major investor in business which other wise should have been left to private investors. The general was that the fastest route to development is government 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, (2001:19) Many Nigerians did not think of self – determination as an alternative to government employment. However, the economic downturn of the economy changed. This situation as unemployment heightened in the mid-1980’s graduates and school leaves have now realized that the government is no longer ready to offer them employment hence the current guest for entrepreneurship development Ugbaja (2003:12) short of themselves into various entrepreneurial ventures.
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 country Aluko (2002:32) the Nation is now on the right part to entrepreneurship development in the 21stCentury with the ongoing privatization programme. The new emphasis on self-determination is in the line with current policy of promoting private sector dominance Nwatu (2003:18) to this and the government, International agencies and even non-government organizations 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 promoting entrepreneurship development in Nigeria with a particular emphasis of Enugu State.
1.2 STATEMENT OF THE PROBLEM
The current emphasis on entrepreneurship development in Nigeria is facing some constraints these include:
- In adequate institutional support for rapid promotion of entrepreneurship development.
- Lack of capital and credit for entrepreneurial activities.
- Lack of market incentive for entrepreneurs
- Inadequate entrepreneurship encouragement programmes.
- Lack of entrepreneurship education programmes
- In adequate entrepreneurial opportunities for women and young persons.
- Lack of willingness (to take risk) entrepreneurial and managerial acumen among Nigerians.