Abstract:
This study examines the role of entrepreneurship development as a viable option for sustainable livelihood in
Nigeria. The notion of engendering greater entrepreneurial activity has become a prominent goal of the
government. More globally, governments across the world are increasingly recognizing the positive impact
that the creation of new businesses could have on employment generation as well as the competitive
advantages that small firms can bring to the market place. It is now recognized that education and training
opportunities play key role in cultivating future entrepreneurs to grow their businesses to greater levels of
success. European Commission (2008) asserted that the aim of entrepreneurship education and training
should be to develop the entrepreneurial capacities and mindsets that benefit the individuals by fostering
creativity, innovation and self employment. This study emphasizes that understanding the need to creating
and nurturing entrepreneurship development, that the government should take up strategic initiatives and
implement plans aimed at impacting entrepreneurial skills and knowledge through education. Such a move no
doubt provides the freedom and the trust to the entrepreneurs to achieve their dreams. The entrepreneurs
interviewed had mixed emotions about entrepreneurship as viable options for sustainable livelihood in
Nigeria. Some indicated that entrepreneurship development is essential for rapid and sustainable economic
growth and that it creates the required manpower and skills necessary for accelerated growth, reduced
unemployment and reducing poverty alleviation. Others emphasizes that it is strategic for the government to
assign significant and increasing role to entrepreneurship in order to revamp the economy. The study
recommends that the government should give loan to young entrepreneurs when needed with lower interest
rate that is affordable to the entrepreneurs. Secondly, the government officials should discourage corruption,
tribalism, religious bias and favouritism and ensure that every individual is treated with equal right and
respect in terms of giving loan. Finally, that strong patent law should be provided by the government in order
to protect local entrepreneurs from foreign producers.
