10 Importance of Entrepreneurship Education in Nigeria.
The importance of entrepreneurship education in a nation, no matter how it’s stated, cannot be overemphasized. This is because of its enormous benefits to any society.
Entrepreneurship is the art or since of innovation and risk-taking for profit in business and entrepreneur is a person who organizes and operates a business venture and assumes much of the associated risk.
This article will list and explain the importance of entrepreneurship education in Nigeria. They are as follows:
- Job Creation
- Economic Growth
- Individual Competence and Self Development
- Regional Development
- Promotion of Innovation, Development and Research
- Anticipating Future Needs
- Agent of Social Change
- Entrepreneurship education is a lifelong learning process
- National Growth
- Crime Reduction
Small businesses in Nigeria have created numerous jobs and wealth in Nigeria. The young people of Nigeria who decide to venture into entrepreneurship most times end up employing other youths in Nigeria and this has drastically reduced job seeking over the years as compared to what was obtaining years back.
Entrepreneurship can be said to be a key driver of our economy. Through entrepreneurship, the youth of Nigeria that would have remained dependent on the government have become self-employed and in turn trained and employed many other youth and this has overtime aided the economic growth of the country.
Individual Competence and Self Development
Entrepreneurship has enhanced individual competence and self-development over the years. It has helped many young people to discover their hidden capacities and talents. The other beautiful thing about entrepreneurship is that it comes with the zeal for new things and of course, innovation is gradually taking hold of the entire world.
Entrepreneurship has aided regional development and this is through the means of private development and innovations. Individuals have contributed a lot to the growth and progress of some geographical areas in the country. Take for instance Lagos state, 60% of the businesses in Lagos are private owned and this has made the region an industrial area in the country.
Promotion of Innovation, Development and Research
Entrepreneurship has brought about immense innovation over years. New and unimaginable things have been invented in a bit to bettering businesses chances of standing out among other contending businesses.
Anticipating Future Needs
What will be needed in the future have been anticipated and researched upon. The level of proactivity of entrepreneurship is absolutely phenomenal. It makes people to see the future and prepared.
Agent of Social Change
The fact that entrepreneurship has enhanced social change especially among the youth cannot be denied. Young people now deliberately associate with people of like mind who can think on their feet and proffer solutions to challenges in the society.
Entrepreneurship education is a lifelong learning process
No matter how it might be tried, the world cannot be taken back to the Stone Age as many people had long been liberated from backward way of life. The benefits of entrepreneurship will rather increase than decrease.
Entrepreneurship has already guaranteed a lasting and lifelong security as the system is already very competitive and people strive to be better by the day.
Entrepreneurship is very promising and so far, it has contributed greatly to the growth of the nation. It has even assumed the position of assistance to the government of Nigeria has it has helped taken much care of the citizenry.
As the popular saying that “a lazy man is a devil’s workshop” implies, anyone without what to do can do just about anything that his or her lazy and empty mind conceives. Because if you are not thinking anything profitable, you will surely thing of something unprofitable as there is no vacuum in life. There must be a thought and subsequently, action.
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Entrepreneur has already assumed the position of indispensability in the world and of course Nigeria is a part of the world. In Nigeria, it is increasingly becoming a standard by the day and it is endorsed by both the citizenry and government as government encourages and even sponsors citizens to venture into it.