Building Sustainable Future for Nigeria through Entrepreneurship

This main purpose of this study is to investigate the role of entrepreneurship in building a
future for Nigeria. This study examines existing literatures on the model of entrepreneurial
action that takes its point of departure in entrepreneurs’ experiences of risk-taking,
opportunity identification and the role of self. By focusing on what entrepreneurs experience
as relevant aspects of their life worlds, the goal is to attain a better understanding of the
drivers and motivations of venture creation and development. The study adopts a descriptive
survey, that is, questionnaire based technique to sample opinion and derive answers to the
problem identified in the literature review section. The data employed for the study was
primary data and secondary data. The primary data were responses gathered from employees
through the administration of questionnaires while the secondary data includes the
information gathered from journals, textbooks, articles and internet sources. Business owners
(i.e. both small and medium enterprises) currently operating within Lagos metropolis were
randomly selected to participate in the study. The research instruments used for this study
were standardized questionnaire derived from journals that are related to the topic of study
and they were formulated based on the variables available in the research topic. The data
collected were analyzed using percentages, graphical representations, and pie charts. The
findings from this study revealed that there is significant relationship between
entrepreneurship development and unemployment reduction in Nigeria. In addition, there is
a significant relationship between commercial banks giving preferential treatment to small
and medium sized firm’s proprietorship.