The industrial health of a country can be measured from the level of entrepreneurship in it. Nigeria's economy would have experienced a positive revolutionary drive but for its historical lack of entrepreneurial talents.
Nigeria is endowed with rich and diverse national resources but there is problem of inability to tap the skills in the country. The development of private businesses as well as entrepreneurship skills is taken serious in countries like Japan, China South Korea, and India, yielding positive career for many unemployed people and as a result bringing about development in their economies at large.
The teeming unemployed Nigerians would have become masters on their own, if they are willing to take business risks. Regardless of government support in investment and provisions of relevant infrastructure and government grants, people are willing and ready to exhibit high level of social responsibilities; the economy can on a positive shape as a result.
Nigeria's economic growth will definitely bring about expansion of national income as well as volume of goods and services. But it is a saddening story today that the economy is tottering as a result of policy summersaults.
Self-employment will enhance rapid growth in the establishment of more industries. To an extent, this will solve the problem of imbalance between the rural areas and urban centres.
Correct economic development will improve the living standard of the people. Entrepreneurship development can bring economic development through technological advancement and the establishment of many enterprises. If the Chinese did not take steps for self-employment as well as setting up small business which later graduated to large business that made China the economic giant that it has become today.
On the part of the Nigerians if we are still waiting for government support before any step is taken to improve our economy, we should not be surprised that by 2020, the country would not have been able to make any difference about economic situation, despite the Vision 20:2020 platform.
The economic situation today in Nigeria is made worse because of high level of corruption, lack of interest in farming, lack of diligent administration which is really affecting several government institutions. Correct measure should be taken over this area to have better economy and to curb institutions that squander money on projects that produce no result.
Oladejo Lydia Iyabo, is from the Mass Communications Department, Federal Polytechnic, Bida, Niger State