March 2013
Business & Management Review;Mar2013, Vol. 3 Issue 1, p1
Academic Journal
The character of the Nigeria state tends to stimulate a template of economic crisis, because its mono-economy does not encourage capacity building for self-reliance, rather it encourages violent resource conflict among the federating units. This is a phenomenon embedded in the short-sightedness and lack of economic vision of successive Nigerian leaderships. This study therefore set out to interrogate the challenges and prospects for entrepreneur in Nigeria's economic development. The study concedes that youth empowerment, entrepreneurial development and economic diversification are answers to the economic challenges and nation-building in a pluralistic, resource endowed society like Nigeria. The consequence of the nation's mono-economy is a clear revelation of the underdevelopment and unemployment in the Nigerian state. But the problem goes beyond that, it calls to question the capacity to build and maintain a solid economic base for enduring institutions of good governance that can in turn guarantee the future of the country. The study therefore concludes that, until and unless the contradictions in the Nigerian's economic reliance are addressed, the county's economy may remain tortuous. However, a major and quick approach is to build a solid divergent economy through entrenchment of entrepreneurial skill that will transcend oil resource boundaries, so as to arouse the ethos of economic self-reliance in the citizens through the nation's numerous natural resources for national economic goal-attainment.


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