TABLE OF CONTENTS
Content Page
Title Page i
Certification ii
Dedication iii
Acknowledgements iv
Abstract vi
Table of Contents vii
List of Tables xi
List of Figures xvii
Abbreviations xviii
List of Appendices xix
CHAPTER ONE – INTRODUCTION
1.1 Background to the Study 1
1.2 Statement of the Problem 4
1.3 Objective of the Study 5
1.4 Research Questions 6
1.5 Hypotheses 6
1.6 Significance of the Study 7
1.7 Scope of the Study 7
1.8 Operational Definition of Terms 8
1.9 Outline of the Study 8
CHAPTER TWO – REVIEW OF LITERATURE
2.0 Introduction 9
2.1 Conceptualizing Entrepreneurship 9
2.2 Public Policy 14
2.3 Concept of Administration 16
2.4 Concept of Public Administration 17 2.5 Concept of Unemployment 18
Content Page
2.6 Empirical Review 22
2.7 Entrepreneurship Policy and Economic Development 26
2.8 Entrepreneurship development in Nigeria 29
2.9 Gaps in Literature 39
2.10 Theoretical Framework 40
CHAPTER THREE – METHODOLOGY
3.0 Introduction 43
3.1 Research Design 43
3.2 Population 43
3.3 Sample size and sampling Technique 44
3.4 Sample Selection 45
3.5 Method of Data Collection 46
3.6 Sources of Data 46
3.7 Instruments of Data Collection 47
3.8 Validity and Reliability of Research Instrument 47
3.9 Method of Data Analysis 48
3.10 Ethical Issues 48
CHAPTER FOUR – DATA ANALYSIS AND RESULTS
4.0 Introduction 49
4.1 Analysis of demographic characteristics of the respondents (Bank of Industry) 50
4.2 Analysis of demographic characteristics of the respondents of Small and Medium Enterprises Development Agency (SMEDAN) 54
4.3 Effects of Bank of Industry and SMEDAN on Employment Generation in Nigeria 60
4.3.1 Relevance of Entrepreneurship Development Centre to Employment Generation
in South West Nigeria 64
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4.3.2 Contributions of Bank of Industry to Employment Generation in South West
Nigeria 66
4.3.3 Contributions of SMEDAN to Employment Generation in South West Nigeria 67
4.3.4 Contributions of National Enterprise Development Programme (NEDEP) to
Employment Generation in South West Nigeria 68
4.3.5 Contributions of Youth Enterprise with Innovation in Nigeria (YOUWIN) to Employment Generation in South West Nigeria 70
4.3.6 Contributions of SMEDAN to Employment Generation in South West Nigeria 72 4.4 Formulation of Government Policies that affect Entrepreneurship Development
in South-West, Nigeria 74
4.4.1 Effectiveness of Policy on Entrepreneurship to Reduce Unemployment in South
West Nigeria 75
4.4.2 Favorability of Government Entrepreneurship Policies on MSMEs in South
West Nigeria 76
4.5 Impact of Entrepreneurship Development on Employment Generation in South
West Nigeria 77
4.6 Relevance of the Nigerian Educational System on Entrepreneurship Development
in South West, Nigeria 96 4.7 Relevance of Capacity Building on Entrepreneurship Development in South
South West Nigeria 106 4.8 Results of Hypotheses testing 115
4.9 Discussions of the results of Hypotheses Testing. 132
4.10 Jobs created by Bank of Industry 135
4.11 Analysis of Interviewee Responses (Bank of Industry, Lagos, Ogun and
Ondo State Officers) 137
4.12 Jobs Created by SMEDAN 139
4.13 Analysis of Interviewee Responses (SMEDAN, Lagos, Ogun and
Ondo Officers) 140
4.14 Discussion on Responses of Interviewees 142
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CHAPTER FIVE – DISCUSSION OF FINDINGS
5.0 Introduction 144
5.1 The Causes of Unemployment in South-West, Nigeria 144
5.2 Administration of Entrepreneurship Policies in South-West
Nigeria in Promoting Employment Generation 146
5.3 Effects of Bank of Industry and SMEDAN in Addressing Unemployment in
South West Nigeria 151
5.4 The role of Entrepreneurship Education in Addressing Unemployment in
South West, Nigeria. 153
5.5 Challenges of Entrepreneurship Policy in Addressing Unemployment
Problems in Nigeria 154
CHAPTER SIX: SUMMARY, CONCLUSION AND RECOMMENDATIONS
6.1 Summary 159
6.2 Conclusion 161
6.3 Recommendations 161
6.4 Suggestions for Further Studies 164
6.5 Contributions to Knowledge 164
6.6 Limitation of the Study 165 References 166
Appendices 188
LIST OF TABLES
Table Page
3.1 The composition of the Bank of Industry’s MSMEs on borrowing
relationship with BOI in Lagos Zone, South West, Nigeria. 42
3.2 The composition of the Bank of Industry’s MSMEs on borrowing
relationship in the 3 states selected as a case study. 44
4.1 Gender distribution of the respondents (Bank of Industry) 48
4.2 Educational Qualifications of the Respondents (Bank of Industry) 49
4.3 Categories of Respondents’ Enterprises (Bank of Industry) 49
4.4 Years Respondents accessed loans from the Bank of Industry 50
4.5 Employment Generated by Respondents after obtaining loans from
Bank of Industry 51
4.6 Respondents Attendance of Entrepreneurship Empowerment Programme
(Capacity Building) (Bank of Industry) 52
4.7 Gender Distribution of the Respondents (SMEDAN) 52
4.8 Educational Qualifications of the Respondents (SMEDAN) 53
4.9 Reasons for attending SMEDAN Capacity Building 54
4.10 Categories of Respondents’ Enterprises (SMEDAN) 55
4.11 When Respondents received Capacity Building from SMEDAN 55
4.12 Relevance of Respondents’ Business Ideas to Capacity Building received
from SMEDAN 56
4.13 Correlation of capacity building received to the Respondents post-training
type of Business 56
4.14 Employment generated by Respondents after SMEDAN Capacity Building 57
4.15 Respondents access to loan after attending SMEDAN’s Capacity Building 58
4.16 Descriptive analysis of the effects of government agencies on employment
generation in South West Nigeria 59
4.17 Contributions of National Directorate of Employment (NDE) to
entrepreneurship development and employment generation in South Nigeria
(Bank of Industry) 60
Table Page
4.18 Contributions of National Directorate of Employment (NDE) to
entrepreneurship development and employment generation in South
West Nigeria (SMEDAN) 61
4.19 Contributions of Entrepreneurship Development Centers (EDC) to
employment generation in South West Nigerian (Bank of Industry) 62
4.20 Contributions of Entrepreneurship Development Centres (EDC) to
employment generation in South West Nigerian (SMEDAN) 63
4.21 Contributions of the Bank of Industry to employment generation in South West
Nigeria. 64
4.22 Contributions of SMEDAN to employment generation in South West Nigeria (SMEDAN) 65
4.23 Contributions of NEDEP to employment generation in South West Nigeria
(Bank of Industry) 66
4.24 Contributions of NEDEP to employment generation in South West the Nigeria (SMEDAN) 67
4.25 Contributions of YOUWIN to employment generation in South West Nigeria
(Bank of Industry) 68
4.26 Contributions of YOUWIN to employment generation in South West Nigeria (SMEDAN) 69
4.27 Contributions of SMEDAN to employment generation in South West Nigeria
(Bank of Industry) 70
4.28 Contributions of SMEDAN to employment generation in South West Nigeria (SMEDAN) 71
4.29 Formulation of government Policies that affect entrepreneurship development
in South West Nigeria (Bank of Industry) 72
4.30 Effectiveness of Policy on Entrepreneurship to reduce Unemployment in South
West Nigeria (Bank of Industry) 73
4.31 Favorability of government entrepreneurship Policies on MSMEs in South
West Nigeria (Bank of Industry) 74
Table Page
4.32 Impact of entrepreneurship development on employment generation in South
West Nigeria (Bank of Industry) 75
4.33 T-Test for the Difference in Means for BOI & SMEDAN 76
4.34 Reliability Test on the variables 77
4.35 Effects of Insecurity of lives and properties to entrepreneurship development on employment generation in South West Nigeria (Bank of Industry) 78
4.36 Effects of Insecurity of lives and properties to entrepreneurship development on employment generation in South West Nigeria (SMEDAN) 80
4.37 Effects of Inconsistency of government policies on MSMEs in South West
Nigeria (Bank of Industry) 81
4.38 Effects of Inconsistency of government policies on MSMEs in South West
Nigeria (SMEDAN) 82
4.39 Effects of lack of electricity on MSMEs in South West Nigeria
(Bank of Industry) 83
4.40 Effects of lack of electricity on MSMEs in South West Nigeria (SMEDAN) 84
4.41 Effects of inaccessibility to finance on MSMEs in South West Nigeria
(Bank of Industry) 85
4.42 Effect of inaccessibility to finance on MSMEs in South West Nigeria
(SMEDAN) 86
4.43 Effect of multiple taxation on MSMEs in South West Nigeria (Bank of Industry) 86
4.44 Effect of multiple taxation on MSMEs in South West Nigeria (SMEDAN) 87
4.45 Effect of corruption on MSMEs in South West Nigeria (Bank of Industry) 88
4.46 Effect of corruption on MSMEs in South West Nigeria (SMEDAN) 89
4.47 Effect of high cost of doing business on the growth of MSMEs in South
West Nigeria (Bank of Industry) 90
4.48 Effect of high cost of doing business on the growth of MSMEs in South
West Nigeria (SMEDAN) 91
4.49 Effect of poor information dissemination on the growth of MSMEs in South West Nigeria (Bank of Industry) 92
Table Page
4.50 Effect of poor information dissemination on the growth of MSMEs in South West Nigeria (SMEDAN) 93
4.51 Relevance of the Nigerian educational system on entrepreneurship development
in South West Nigeria (Bank of Industry) 94
4.52 Relevance of the Nigerian educational system on Entrepreneurship Development
in South West Nigeria (SMEDAN) 95
4.53 Government inclusion of entrepreneurship education in the curricular of
education sector in South West Nigeria (Bank of Industry) 96
4.54 Government to enforce entrepreneurship education from secondary school level
in South West Nigeria (Bank of Industry) 97
4.55 Government to enforce entrepreneurship education from secondary school level
in South West Nigeria (SMEDAN) 98
4.56 Entrepreneurship education should be made a compulsory course in all tertiary institutions in South West Nigeria (Bank of Industry) 99
4.57 Entrepreneurship education should be made a compulsory course in all tertiary institutions in South West Nigeria (SMEDAN) 100
4.58 Making Nigerian educational system more responsive to the industrial needs of South West Nigeria (Bank of Industry) 101
4.59 Making Nigerian educational system more responsive to the industrial needs of
the South West Nigeria (SMEDAN) 102
4.60 Effect of form and quality of Nigerian educational system on high rate of
unemployment in South West Nigeria (SMEDAN) 103
4.61 Relevance of capacity building on entrepreneurship development in South West
Nigeria (SMEDAN) 104
4.62 Ability to be employed people in South West Nigeria depends on entrepreneurship
skill received (SMEDAN) 105
4.63 Relevance of the capacity building received from SMEDAN to the
entrepreneurship skill required by MSMEs in South West Nigeria (SMEDAN) 106
4.64 Relevance of capacity building received from SMEDAN to job seekers in South
West Nigeria (SMEDAN) 107
Table Page
4.65 Government to organize awareness campaign on existing business development
services in South West Nigeria (SMEDAN) 108
4.66 The relevance of the contents of SMEDAN capacity building for MSMEs in
South West Nigeria (SMEDAN) 108
4.67 Organization of frequent trainings to encourage entrepreneurship development
and job creations in South West Nigeria (SMEDAN) 109
4.68 Development of a database of entrepreneurs that qualify for venture capital
investments in South West Nigeria (SMEDAN) 110
4.69 Government to maintain statistics of prospective graduates entering the
labour market every year for proper planning in South West Nigeria (SMEDAN) 111
4.70 Regression result for hypothesis one 112 4.71 ANOVA result for hypothesis one 113 4.72 Result of hypothesis on Bank of Industry’s effect on employment generation in
South West Nigeria 114
4.73 Pearson Test Statistics Result 115
4.74 Result of Hypothesis tested on the effect of SMEDAN in addressing
Unemployment in South West, Nigeria 118
4.75 Pearson Test Statistics Result 119
4.76 Results of regression analysis on administration of entrepreneurship
policy on unemployment in South West, Nigeria from the study of BOI 120
4.77 ANOVA result 121 4.78 Model summary of the regression analysis on the hypothesis tested on those that
received capacity building from SMEDAN 122
4.79 ANOVA result 123
4.80 Result of Hypothesis tested on significant effect of education on entrepreneurship . development from the study of BOI 124 4.81 Pearson Test Statistics Result 125 4.82 Results of Hypothesis test on effect of entrepreneurship education on
unemployment in South West, Nigeria from the study of SMEDAN
(Cross tabulation) 127
4.83 Pearson Test Statistics Result 128
Table Page
4.84 Results of hypothesis test on the effect of BOI and SMEDAN on unemployment
4.85 Model summary 129
4.86 ANOVA result of regression 129
4.87 Data of jobs created by Bank of Industry from 2004 to 2014 134
4.88 Data of total jobs created by SMEDAN from 2004 to 2014 137
LIST OF FIGURES
Figure Page
1 Research (Conceptual) Framework 11
2 Concept of Public Policy 15
LIST OF APPENDICES
Appendix Page
I Letter of Introduction 188
II Questionnaire Administered to MSMEs in Bank of Industry 189
I11 Questionnaire Administered to MSMEs in SMEDAN 181
1V Interview Questions Administered to Officials of Bank of Industry 199
V Interview Questions Administered to Officials of SMEDAN 201
VI BUHREC
VII TURNITIN
ABBREVIATIONS
ABSCON Association of Small Business Owners of Nigeria
AMEN Association of Micro Entrepreneurs of Nigeria
BOA Bank of Agriculture
BOI Bank of Industry
CBN Central Bank of Nigeria
EDC Entrepreneurship Development Centers
EDP Entrepreneurship Development Programmes
ITF Industrial Trust Fund
MAMSER Mass Mobilization for Self-Reliance and Economic Recovery
MSMEDF CBN’s Micro, Small and Medium Enterprises Development Fund
MSMEs Micro. Small and Medium Enterprises
NASME Nigerian Association of Small and Medium Enterprises
NASSI National Association of Small Scale Industries
NBCI National Bank for Commerce and Industry
NDE National Directorate of Employment
NEDEP National Enterprise Development Programme
NERFUND National Economic Reconstruction Fund
NIDB Nigerian Industrial Development Bank
NIRP National Industrial Revolution Plan
OFN Operation Feed the Nation
SMEDAN National Policy on Micro, Small and Medium Enterprises
YOUWIN Youth With Innovation in Nigeria
CHAPTER ONE
INTRODUCTION
1.1 Background to the Study
In this era of globalization, entrepreneurship has an important role to play in employment generation. The experiences of developed economies in relation to the roles played by entrepreneurship buttresses the fact that the importance of entrepreneurship cannot be over emphasized especially among the developing countries. The quintessence of entrepreneurship is paramount in every economy that targets economic growth and development. However, no economic growth and development may be achieved without changes in factors of production and economic activities. These economic activities are best driven by entrepreneurs as agents of economic growth and development. Without adequate information and knowledge, the impact of entrepreneurship on generation of employment in any nation may be less than optimal. The import of entrepreneurship knowledge was identified by Block, Thurik and Zhou (2012) when they recognized that knowledge was “dispersed” throughout society with each person having a unique stock of information. Consequently, individuals or entrepreneurs bringing their varied talents, knowledge and skills to bear on the society would advance the economic standing of that society. One of the major roles of entrepreneurship is job creation, to reduce unemployment rate in the economy.
Unemployment is a universal challenge except that the rate of prevalence differs from one economy to the other. The World Bank reports (2016) on unemployment revealed that the rates of unemployment in some African nations like Cote d’Ivoire (4.0 per cent), Ghana (2.4 per cent), Guinea (1.8 per cent) can compare favourably with some developed economies like Spain (24.7 per cent), United States of America (6.2 per cent), United Kingdom (6.3 per cent) and France (9.9 per cent). However, the challenges of unemployment are more pronounced in the developing economies than the developed economies where social security and other poverty alleviation programmes for the unemployed are in place. In Nigeria, unemployment which as reported by the National Bureau of Statistics was 31.2 per cent as at the end of September, 2016, against world unemployment rate of 5.8 per cent (ILO, 2016). According to Bassey and Atan (2012), there has been an alarming increase in the rate of youth unemployment as thousands of university graduates are roaming the street without jobs. In spite of the enormous natural and human resources in the country, unemployment still remains a challenge. For instance, the South-West geopolitical zone is rich in cash crops such as cocoa, cola nuts, coffee and rubber. The greatest source of wealth for the Northern states is massive fertile land conducive for wide range of agricultural activities while the South-South states like Rivers, Delta and Akwa Ibom are blessed in petroleum reserves (Badmus, Olurin, Ganiyu and Oduleye, 2013); (Alabi A. B et. al. 2013), yet there is high incidence of poverty and high rate of unemployment (Yakubu and Akanegbu, 2015; Uzoigwe, 2007). Nigeria is still one of the poorest countries in the world and has one of the highest rates of youth unemployment in the sub-Sahara Africa (Ucha, 2010; Amaghionyeodiwe and Adediran, 2012; Chukwuma, 2013).
The predicament of Nigeria as a developing economy with a lack of impactful entrepreneurship policy after over 55 years of independence can be traced to the deficit that we have experienced in governance and unfriendly entrepreneurial environment. The importance of entrepreneurship development was not appreciated until many employable Nigerians could not find jobs to the embarrassment of the government and at threat to national security. This situation propelled the government to initiate one form of entrepreneurship policy and/or job creation scheme or the other.
