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ADMINISTRATION OF ENTREPRENEURSHIP POLICY AND EMPLOYMENT GENERATION IN SOUTH -WEST, NIGERIA (2004 -2014)

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study

The administration of entrepreneurship policy in Nigeria, particularly in the South-West region, has become increasingly critical in addressing the pressing issue of unemployment. Between 2004 and 2014, Nigeria faced a growing economic crisis, characterized by rising unemployment rates and a lack of sustainable job creation strategies. According to the National Bureau of Statistics (NBS, 2018), the unemployment rate in Nigeria reached alarming levels, exacerbated by economic recessions and inadequate employment policies. Entrepreneurship has been identified as a viable pathway to job creation, economic growth, and poverty alleviation. The government's emphasis on entrepreneurship as a means of enhancing employment opportunities highlights the significance of effective policy administration in fostering a robust entrepreneurial ecosystem.

In 2004, the Nigerian government began implementing various entrepreneurship policies aimed at stimulating small and medium-sized enterprises (SMEs) as a means to generate employment (Adebayo, 2020). These policies were designed to provide a supportive framework for entrepreneurs, facilitating access to finance, training, and infrastructure. Despite these efforts, the effectiveness of these policies in promoting employment generation remains a subject of debate. Several studies indicate that while entrepreneurship policies have the potential to create jobs, their impact has been hindered by factors such as inadequate funding, poor infrastructure, and lack of entrepreneurial skills among the populace (Adesola & Shokunbi, 2019).

The South-West region of Nigeria, known for its vibrant economy and entrepreneurial spirit, presents a unique case for examining the administration of entrepreneurship policy. The region is home to a significant number of SMEs, which play a crucial role in employment generation. However, the challenges faced by these enterprises, including access to finance, regulatory hurdles, and market competition, have limited their growth and employment potential (Ogunleye, 2021). As such, understanding the effectiveness of entrepreneurship policy administration in the South-West region is vital for enhancing job creation efforts and promoting sustainable economic development.

Furthermore, the period between 2004 and 2014 witnessed significant socio-economic changes in Nigeria, including the impact of global economic trends and local governance structures on entrepreneurship. The administration of entrepreneurship policy during this time aimed to respond to these changes by creating an enabling environment for business growth. However, the interplay between policy implementation and real-world outcomes remains complex. Factors such as corruption, bureaucratic inefficiencies, and inconsistent policy frameworks have posed significant challenges to effective policy administration (Ezeani, 2019).

Moreover, the role of government agencies and institutions in facilitating entrepreneurship cannot be overlooked. Agencies such as the National Directorate of Employment (NDE) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have been at the forefront of implementing entrepreneurship initiatives. However, the impact of these agencies on employment generation has often been questioned, with calls for greater accountability and transparency in their operations (Nwachukwu & Ogbari, 2020).

In summary, the background of this study highlights the critical role of entrepreneurship policy administration in employment generation within the South-West region of Nigeria from 2004 to 2014. Despite the government's efforts to promote entrepreneurship, significant challenges persist, necessitating a comprehensive analysis of policy effectiveness and its implications for employment outcomes. Understanding these dynamics is essential for informing future policy interventions aimed at fostering a more vibrant entrepreneurial landscape and enhancing job creation in Nigeria.

1.2 Statement of the Problem

Despite the Nigerian government's commitment to fostering entrepreneurship through various policies, the persistent issue of unemployment in the South-West region indicates a gap in effective policy implementation. The lack of significant employment generation from these policies raises critical questions about their adequacy and effectiveness. Many young Nigerians, particularly graduates, struggle to find meaningful employment, leading to increased poverty and socio-economic instability (Ogunsanya, 2021). Additionally, the entrepreneurial landscape in the South-West is characterized by numerous challenges, including inadequate access to financing, poor infrastructure, and limited entrepreneurial skills. The complex interplay of these factors necessitates a thorough investigation into the administration of entrepreneurship policies and their actual impact on employment generation.

References

Ogunsanya, A. (2021). Youth Unemployment in Nigeria: Causes and Solutions. Journal of Youth Studies, 24(6), 831-847.

1.3 Objectives of the Study

The main objective of this study is to determine the effectiveness of the administration of entrepreneurship policy in generating employment in the South-West region of Nigeria from 2004 to 2014.

Specific objectives include:

i. To evaluate the impact of entrepreneurship policy initiatives on employment generation in the South-West region.

ii. To determine the challenges faced by entrepreneurs in accessing resources and support from government policies.

iii. To find out the level of awareness and understanding of entrepreneurship policies among potential entrepreneurs in the region.

1.4 Research Questions

i. What is the impact of entrepreneurship policy initiatives on employment generation in the South-West region of Nigeria?

ii. What are the challenges faced by entrepreneurs in accessing resources and support from government policies?

iii. How does the level of awareness and understanding of entrepreneurship policies among potential entrepreneurs influence their participation in entrepreneurship activities?

1.5 Significance of the Study

This study is significant as it seeks to provide insights into the effectiveness of entrepreneurship policy administration in generating employment within the South-West region of Nigeria. The findings will contribute to the existing body of knowledge by identifying key challenges and opportunities within the entrepreneurial landscape. Additionally, the study will serve as a valuable resource for policymakers, entrepreneurs, and stakeholders seeking to enhance the effectiveness of entrepreneurship initiatives. By addressing the gaps in current policies, this research aims to inform strategies that could lead to sustainable job creation and economic growth in the region.

1.6 Scope of the Study

The scope of this study encompasses the examination of entrepreneurship policy administration and its impact on employment generation in the South-West region of Nigeria from 2004 to 2014. The research will focus on various entrepreneurship initiatives implemented during this period, including funding programs, training workshops, and support services provided by government agencies. The study will involve a review of relevant literature, analysis of policy documents, and collection of primary data through surveys and interviews with entrepreneurs and policymakers in the region.

1.7 Limitations of the Study

This study may encounter several limitations, including potential biases in the self-reported data collected from entrepreneurs and policymakers. Additionally, the research may be constrained by limited access to comprehensive data on employment generation and the effectiveness of entrepreneurship policies in the South-West region. The study's focus on a specific time frame (2004-2014) may also limit its applicability to current circumstances, as economic and political conditions have evolved since then.

1.8 Definition of Terms

Entrepreneurship Policy: A set of guidelines and regulations designed to promote the establishment and growth of new businesses and support existing enterprises in the economy.

Employment Generation: The process of creating new jobs or opportunities for individuals to gain employment.

Small and Medium Enterprises (SMEs): Businesses with a limited scale of operations, typically characterized by a smaller number of employees and lower revenue than larger corporations.

South-West Nigeria: A geopolitical region in Nigeria comprising six states: Lagos, Ogun, Oyo, Osun, Ekiti, and Ondo, known for its diverse economy and entrepreneurial activities.

Policy Administration: The management and implementation of policies by government agencies and institutions aimed at achieving specific socio-economic goals.

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