ROLE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT IN NIGERIA

This study examined the role of entrepreneurship in economic development in Nigeria and the purpose/intention of this study is to examine the impact of entrepreneurship on economic development and the role of entrepreneurship towards innovations and technological advancements. For this study, Four (4) research questions and two (2) hypotheses were raised to guide the study. Several literatures from different authors were reviewed. The study adopted descriptive survey research design to collect and analyze data. The population consists of entrepreneurs in Akoko North East, Ondo State. Sample of one hundred (100) students were randomly selected across the faculties in the university through the use of simple random sampling technique. Questionnaire was used as instrument for data collection in this study. Data collected from the sampled respondents was analyzed using frequency count and simple percentage and hypotheses was tested using Analysis of Variance (ANOVA) at 0.05 level of significance. Findings of this study revealed the relationship between the role of entreneurship towards economic development in the country. The study also the impact of entrepreneurship towards innovation and development. The study concluded that entrepreneurial activities are indeed a sources of wealth creation, employment opportunity and finally it helps in poverty reduction gearing towards faster growth and development of an economy of a nation to a larger extend. It was therefore recommended government should put in place infrastructural facilities; inform of electricity supply, good roads, adequate and good sources of water supply in order to make the activities of the entrepreneur more effective and efficient towards economic growth and development.