ENTREPRENEURSHIP EDUCATION AND ITS INFLUENCE ON THE DEVELOPMENT OF NIGERIA

ENTREPRENEURSHIP EDUCATION AND ITS INFLUENCE ON THE DEVELOPMENT OF NIGERIA

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

The issue or sustainable development in the third world countries like Nigeria has been a growing concern to both the government and private sector. The huge amount of money the government has being investing on this plat from over the years have not yielded any meaningful result. Poverty is a characteristic of Nigeria house hold or individual, it has been realized in the recent years that there are limits to which government can singly promote development. Most of the traditional function being carried out by the government in most countries ranging from the provision of economic development are becoming increasingly difficult to accomplish. Nigeria as a nation has her own peculiar developmental challenges because of malad ministration corruption infrastructural decay, insecurity of lives and properties, unstable macroeconomic regime and unpredictable fiscal policies by successive administration (Fasua, 2006) thus, both the public and the private sectors of the economic and every segment of the society need to be involved in the industrial development process of the country.

As globalization creates benefits through advanced technologies and expansion of commerce, it also creates challenges for emerging small business enterprises to effectively complete in an environment characterized by multivariate challenges. It is on this basis that governments begin to engage in privatization policy with the view of allowing the private sector to participate in the economic development of the nation.

Consequently, various government of the nation begin to find pathways to involve the private sector in the developmental process of their country’s economy one of the responses to the challenges of development entrepreneurial developing countries. Is the encouragement of entrepreneurial development scheme.

Nigeria had even taken more robust step by including entrepreneurial studies in the academic curriculum of her education system and with the introduction of national Directorate of employment (NDE) scheme. The believe of such policy makers is that such decision will inculcate entrepreneurial spirit in the mind of people so as to prepare them for wealth creation through entrepreneurship (Fasua, 2006). Entrepreneurship is very crucial to the development of a country’s economy, especially countries like Nigeria. Entrepreneurship is sine qua non to national development poverty eradication and employment generation it is the bed rock of any nation’s industrialization. Solat manufacturing company is purely indigenous manufacturing company. The manufacturing company came into existence in 1998 with the aim of purchasing straw, toothpick, and shopping bag.

The company is fully registered with the federal government of Nigeria. The director of the company is fully registered with all the appropriate professional bodies in Nigeria.

Solat manufacturing company also came into being as a result of many years of experience gained by the director and staff in the field of manufacturing industries both local and international.

The company deploys computer application packages in their project design and supervision services. All their staff are computer-competent.