Volume 5 ISSUE 1

ENTREPRENEURSHIP AS A VERITABLE TOOL FOR SUSTAINABLE ECONOMIC DEVELOPMENT IN NIGERIA – A SURVEY OF SELECTED ENTREPRENEURS IN WARRI, DELTA STATE.

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Abstract
Entrepreneurship activities have played important roles in the development process in most of the developed economies and proved to be one of the most viable sectors with economic growth potential. Small and medium enterprises have such a crucial role to play in the development of an economy that cannot be ignored by the government. Entrepreneurial development is therefore important in the Nigerian economy which is characterized by heavy dependence on oil, low agricultural production, high unemployment, low utilization of industrial capacity, high inflation rate, and very weak industrial infrastructural base. These constraints limit the rate of growth of entrepreneurial activities in Nigeria. This study was conducted to examine entrepreneurship tool for economic development in Nigeria. To achieve the objective of this study, the researchers developed and administered a questionnaire on eighty (80) entrepreneurs in Isoko North and South Local Government Areas of Delta State. Data analysis was made using .frequency counts and simple percentage tables. The chi-square X7 statistic was used in testing the null hypotheses formulated. Among the findings was that entrepreneurship contributes immensely to the economic development of Nigeria. The study concluded that entrepreneurship contributed significantly in the areas of employment creation, promoting growth, industrial development, poverty alleviation and reduction in urban migration and recommended among others, government assistance to entrepreneurs, effective credit control system, religious institutions involvement and appropriate educational training and development programmes for stimulating entrepreneurial ventures in Nigeria.

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