Entrepreneurship, Inclusive Growth And Poverty Reduction In Nigeria

International Journal of Economics and Management Studies

© 2019 by SSRG - IJEMS Journal

Volume 6 Issue 8

Year of Publication : 2019

Authors : Eneji Mathias Agri , Dom Orshak Yilkes , Odey Francis Acha

10.14445/23939125/IJEMS-V6I8P118

How to Cite?

Eneji Mathias Agri , Dom Orshak Yilkes , Odey Francis Acha, "Entrepreneurship, Inclusive Growth And Poverty Reduction In Nigeria," SSRG International Journal of Economics and Management Studies, vol. 6,  no. 8, pp. 162-173, 2019. Crossref, https://doi.org/10.14445/23939125/IJEMS-V6I8P118

Abstract:

Poverty is on the increase in Nigeria as 70 percent of the people are in a state of deprivation with regards to incomes, access to basic necessities of life; finance, clothing, housing, and health care and education services. This study analyzed the causal relationship between entrepreneurship, inclusive growth and poverty reduction in Nigeria. Time series data on the key variables were extracted from reliable secondary data sources covering 37 years. The methods of data analysis are the ordinary Least Square (OLS) technique, the Augmented Dickey-Fuller (ADF) test, causality and Johansen co-integration tests. The study finds that there is a causal relationship between entrepreneurship, inclusive growth and poverty reduction in Nigeria. Entrepreneurship, vocational training and skills acquisition had inverse and insignificant relationship with poverty in Nigeria, indicating that the more entrepreneurship practice, the less the rate of poverty or the more success in poverty reduction. This study also considers entrepreneurship as an inclusive occupation available to the youth and the ager, the rich and the poor, the educated and the artisans or apprentices. Inclusive growth had positive and significant relationship with poverty reduction in but an inverse relationship with unemployment rate . The study recommends that the private sector, the government and all the relevant agencies should make economic growth inclusive through entrepreneurship, small and medium scale enterprises. They should provide ways of making credit available to businesses, especially start-ups. Deliberate efforts should be made by government at all levels to creating employment opportunities through entrepreneurship as a major tool to fight against poverty and inequality in Nigeria and lastly there is also need for infrastructural development and social transformation especially in the rural areas where quality education, health care, roads networks and electricity are inadequate.

Keywords:

Inclusive growth, Entrepreneurship, Poverty, Poverty reduction, Private sector, Small and Medium scale enterprises, Manufacturing, Infrastructure

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