specialty journal of politics and law
Entrepreneurship Development in Nigeria: Issues for Policy and Legislative Attention
Patrick Nnadozie Udefuna, Emmanuel Ezenwa Uzodinma
This paper uses a comparative perspective to review entrepreneurial development in Nigeria, by analysing the effects of the weak institutional environment in Nigeria on entrepreneurial activities. Analysis suggests that Nigeria's institutional environment is a factor in explaining its relatively low levels of entrepreneurship development, where the latter is measured in terms of both number of start-ups and of existing business owners. Analyses also show that entrepreneurship development in Nigeria is mainly hinged on necessity and funded by self-finance, family and friends as the microfinance institutions pose stringent measure for loan. The paper suggests various policy options embedded in the development of local content the rethinking of strategies for effective entrepreneurship development in Nigeria.