IIARD International Institute of Academic Research and Development

International Journal of Education and Evaluation (IJEE )

E-ISSN 2489-0073
P-ISSN 2695-1940
VOL. 8 NO. 2 2022

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Entrepreneurship: A Tool for Building a Viable Economy and Reducing Youth Unemployment in Nigeria

Udoye Rita Nneka PhD

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Abstract

The development and transformation of Nigerian economy is highly dependent on youth empowerment through entrepreneurship. They are the backbone of economic development all over the world and play important role for employment, income and societal changes, particularly in a transition economy like Nigeria. The paper is concerned with how entrepreneurship helps to reduce unemployment and as well help build a viable economy. In Nigeria today, unemployment among youths is one of the biggest challenges confronting the country. Nigerian youths constitute the most part of the entire population but today, they are experiencing youth decay manifesting in many social vices as a result of unemployment and idleness. This has been a major concern to the government and the entire citizenry of the country. The paper looks at some of the challenges of entrepreneurship in employment creation and also looked at the major causes of unemployment among the youths in Nigeria. Thus, conclusions and recommendations were made that youths should be well equipped with entrepreneurial skills that will enable them to be self-reliant and that government should strive to reduce the cost of doing business in Nigeria to the benefit of both entrepreneurial firms and other small businesses.

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