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

Year: 2025

Type: article

Abstract: 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.

Source: World Journal of Advanced Research and Reviews

DOI: 10.30574/wjarr.2025.25.2.0428

Authors: Irene Nkechi Onwuka, Emmanuel Munachi Nwachuya, Chika Maureen Okaforocha, Chika Priscilla Imoagwu, Agbachukwu Okeife Ezeife

Institution: Nnamdi Azikiwe University

Language: English

Topic: Entrepreneurship Studies and Influences

Subfield: Management of Technology and Innovation

Field: Business, Management and Accounting

Domain: Social Sciences

SDG: Decent work and economic growth

Open Access status: hybrid

OpenAlex ID: W4407546805