The Development of Entrepreneurship in Nigeria Is the Gateway to Youth Empowerment

Abstract

High unemployment rate in this part of the world cannot be underestimated as its effects are having adverse impact to the economic growth of the continent and particularly in Nigeria. The Nigerian Immigration interviews that happened recently in 2014 in major cities of the country are eye openers to many people on the state of unemployment in the country. Therefore, the need for self employment is increasing and could offer more job opportunities for young graduates. The concept of entrepreneurship is being developed over the years, thus individual can learn the basic skills involved in entrepreneurship to help him set up his own business or enterprise. This paper therefore is to examine the importance of entrepreneurship development in Nigeria as a gateway for youth empowerment. Field survey was conducted using structured questionnaire. A total of sixty questionnaires were distributed among staff and students of the Federal Polytechnic, ILaro, Ogun State, Nigeria, out of which fifty of them were returned. The study showed that proper exposure of the youths to entrepreneurial skills will stimulate fresh school leavers and others towards different job opportunities beside wage employment. This paper therefore recommends that the development of entrepreneurship will help our youth to gain self confidence and develop personal dreams based on job opportunities and "need gaps” that can be exploited through critical thinking, analysis and focused planning so as to develop a plan of action for it's eventual realization.