Newo, Murewa and Oladipo, Victoria and Ayankoya, Abimbola Rachel and Olanrewaju, Kofoworola Misturat (2023) ENTREPRENEURSHIP AND YOUTH DEVELOPMENT IN NIGERIA: POLICIES, PRACTICES AND EFFECTIVENESS. In: Covenant University International Conference on Entrepreneurship, MARCH 22-24, 2023, Ota, Nigeria.
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Abstract
The bedrock of Nigeria’s economy lies in entrepreneurship. Micro, small, and medium enterprises (MSMEs) make up a sizable portion of all businesses in Nigeria and account for 49.8% of the country's Gross Domestic Product (GDP), according to data from the National Bureau of Statistics (NBS). They are present in all economic sectors and make up about 85% of all industrial employment in terms of the labor force. These businesses have greatly aided the value creation in the industries in which they operate by providing original ideas, creative solutions, and business models (WATHI, 2021). Youth empowerment is a focal point for economic growth, and entrepreneurship significantly affects youth development. Although the Nigerian government has committed to entrepreneurship and youth development, with the youths making up to 70% of the entire population, it still has not shown track records of the development. Thus, this research examines the synergy between entrepreneurship and youth development in Nigeria. It aims to explore what policies and practices have been created and implemented to foster the synergy between the two variables and how effective they have been. The research utilized the qualitative research method and leveraged secondary data sources, such as journal articles and conference proceedings, to gather data. This study concluded that entrepreneurship is instrumental to youth development in Nigeria and recommended that more cohesive youth development policies be put in place in Nigeria to foster both human capital development and economic development in the country.
| Item Type: | Conference or Workshop Item (Paper) |
|---|---|
| Subjects: | UNSPECIFIED |
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Social Sciences |
| Depositing User: | AKINWUMI |
| Date Deposited: | 06 Jun 2023 13:03 |
| Last Modified: | 06 Jun 2023 13:03 |
| URI: | http://eprints.covenantuniversity.edu.ng/id/eprint/16979 |
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