ASSESSMENT OF GOVERNMENT CONTRIBUTIONS TO THE DEVELOPMENT OF ENTREPRENEURSHIP IN NIGERIA: CASE STUDY OF ANAMBRA STATE

Author: Okafor Christiana Ogochukwu
Department: Business Administration
Affiliation: Nnamdi Azikiwe University Awka

Nigeria is a country with numerous business and investment potentials due to the abundant, vibrant and dynamic human and natural resources it possesses. The experiences of developed economies in relation to the roles played by entrepreneurs buttresses the fact that the importance of entrepreneurship cannot be overemphasized especially among the Developing countries. Entrepreneurs are believed to be the engine room for the development of any economy because they form the bulk of business activities in a growing economy like that of Nigeria. This is manifested in the ways of employment generation, rural development, economic growth, industrialisation and better utilization of indigenous resources. This study aimed at assessing the contributions of government to the development of entrepreneurship in the state and it is anchor on the psychological theories of the Refugee and Schumpeter effects “these theories posit it that the ability to make good judgment about the future leads an individual to become a successful entrepreneur. Descriptive survey design was adopted. Primary source of data collection was employed, chi-square test of independence conducted shows that: the extent of credit facility granted by government institutions has significant effect on entrepreneurs also the value added by government institutions has significant effects on small and medium enterprises in the area of youth empowerment and finally government contributions have significant effect on entrepreneurs in the area of capacity building. In conclusion, if the Nigerian government must revitalize it economy, reduce unemployment progressively and generate more employment opportunities, a paradigm shift in policy that is critical to effective entrepreneurship development becomes necessary while it is recommended that government should make entrepreneurship sellable to the people by inculcating it into the educational curriculum at every strata of the educational sector and also utilize a re-modeled scheme to educate the youths more on the importance and need for entrepreneurship development, programmes should be geared towards training youths in the act of entrepreneurship.

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