The role of entrepreneurship in Nigeria’s economic development: Perspectives from university students

Onwuka, Irene Nkechi and Nwachuya, Emmanuel Munachi and Okaforocha, Chika Maureen and Imoagwu, Chika Priscilla and Ezeife, Agbachukwu Okeife (2025) The role of entrepreneurship in Nigeria’s economic development: Perspectives from university students. World Journal of Advanced Research and Reviews, 25 (2). pp. 962-973. ISSN 2581-9615

This study investigated the impact of entrepreneurship on the economic development of Nigeria, focusing on its implications for job creation, innovation, and wealth generation. Employing a descriptive statistical approach, data from questionnaire responses were analyzed to address the research questions. The objectives of the study were threefold: firstly, to assess the relationship between entrepreneurship and job creation and employment, thereby elucidating its effects on the country's economic development; secondly, to identify and analyze the key challenges and barriers encountered by entrepreneurs in Nigeria, and to examine their repercussions on economic growth, innovation, and wealth generation; and finally, to evaluate the impact of the entrepreneurial ecosystem and government policies on the sustainability of entrepreneurial ventures and their influence on Nigeria's economic development. The study recommends that policymakers should prioritize the formulation and implementation of policies that directly support and motivate entrepreneurial activities. These policies should be designed in a manner that encourages entrepreneurship by addressing key challenges and barriers faced by entrepreneurs, such as access to finance, regulatory hurdles, and infrastructure deficiencies.