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Youth Empowerment and Entrepreneurship in Nigeria: Implication for Economic Diversification

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  • Ambrose Nnaemeka Omeje
  • Augustine Jideofor
  • Michael Okike Ugwu

Abstract

Nigerian government through its various agencies, World Bank, nongovernmental organizations, and even private philanthropists, has recently resorted to committing a lot of resources to training and empowering the youths in various entrepreneurships. This is done with the aim of enhancing creation of jobs, reduction of poverty, and generation of income both to individuals and government thereby bringing about economic diversification which will help reduce overdependence on government and oil revenue, hence leading to economic growth and development. While these initiatives are steps in the right direction, this study therefore empirically examined whether empowering the youths has significantly contributed to the growth of entrepreneurship thereby leading to economic diversification in Nigeria using the Nigeria Enterprise Survey Data (2014) and applying the multinomial logistic regression model. It was found among others that almost all the variables used to capture entrepreneurship growth and development in Nigeria were statistically significant except for tax rates, transportation cost, and land access (comparing micro and large enterprises with the small-scale enterprise) and tax rates, subsidy, and land access (comparing medium enterprise with small-scale enterprise). It was recommended among others that governments at all levels and its various agencies, World Bank, nongovernmental organizations, and even private philanthropists, need to do more on entrepreneurship training programs of youths. The training should be accompanied with sustained financial and nonfinancial support and monitoring the business activities of these entrepreneurs after empowering them.

Suggested Citation

  • Ambrose Nnaemeka Omeje & Augustine Jideofor & Michael Okike Ugwu, 2020. "Youth Empowerment and Entrepreneurship in Nigeria: Implication for Economic Diversification," SAGE Open, , vol. 10(4), pages 21582440209, December.
    • Handle: RePEc:sae:sagope:v:10:y:2020:i:4:p:2158244020982996
    DOI: 10.1177/2158244020982996
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    References listed on IDEAS

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    1. Teresa A. Daniel & Calvin A. Kent, 2005. "An Assessment of Youth Entrepreneurship Programs in the United States," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 20(Spring 20), pages 126-147.
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    Cited by:

    1. Adeola Abiodun ADEOTI, 2024. "Functional Vocational Education for Youth Empowerment in Nigeria," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(1), pages 1160-1170, January.
    2. Edamisan Stephen Ikuemonisan & Taiwo Ejiola Mafimisebi & Igbekele Amos Ajibefun & Adeyose Emmanuel Akinbola & Olanrewaju Peter Oladoyin, 2022. "Analysis of Youth’s Willingness to Exploit Agribusiness Opportunities in Nigeria with Entrepreneurship as a Moderating Variable," Businesses, MDPI, vol. 2(2), pages 1-20, April.
    3. Monsuru A. Sodeeq, 2023. "Economic Performance of Former President Muhammad Buhari (2015-2023): A Thematic Review," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 7(6), pages 1192-1199, June.
    4. Timothy Ayomitunde Aderemi & Adedayo Mathias Opele & Johnson Ifeanyi Okoh & Mamdouh Abdulaziz Saleh Al‐Faryan, 2023. "An econometric analysis of small‐ and medium‐scale enterprises and employment creation in Nigeria," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(3), pages 1624-1633, April.
    5. Dayah Abdi Kulmie & Mukhtar Sheikh Hussein & Bile Mohumed Abdi & Mohamed Abdirahman Abdulle & Mohamed Ali Adam, 2023. "Entrepreneurship Training, Job Creation and Youth Empowerment," Asian Social Science, Canadian Center of Science and Education, vol. 19(6), pages 111-111, November.

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