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EFFECT OF ENTREPRENEURSHIP DEVELOPMENT ON POVERTY ALLEVIATION IN NIGERIA
Abstract: Entrepreneurship is considered as an alternative way to tackle some of the socio economic problems that bedeviled some countries presently, especially problem of high unemployment and poverty. Entrepreneurship is a process undertaken by the government to reduce the level of poverty in the economy. Entrepreneurship development is the process of enhancing entrepreneurial skills and knowledge through structured training and institutional building programmes focused on individuals who wish to start or expand a business. One of the major challenges facing developing and underdeveloped countries of the world is poverty. It has been so endemic as a result of the high rate of unemployment that has become the major characteristic of the developing and underdeveloped countries of the world. The study focused on the effect of entrepreneurship development on poverty alleviation in Nigeria. The specific objectives of the study are to examine the effect of entrepreneurship training and education on poverty alleviation in Nigeria and to determine the challenges that militate against sustainable entrepreneurship development in Nigeria. The study adopted human capital Theory propounded by Robert (1991) and Mc clellands’ achievement motivation theory (1961). It was concluded that Entrepreneurship development is a key tool for poverty reduction; stimulating employment and economic growth in developing countries. Entrepreneurship boosts economic growth, enhances educational attainment and increases the rate of economic growth and for Nigeria to move out of the disturbing high level of poverty, adequate attention must be given to the growth of entrepreneurship. The study recommends that Entrepreneurship development should be inculcated into the school’s curriculum to promote human empowerment and development through entrepreneurial education and training and also the federal government should provide enabling environment conducive for the smooth operation of both indigenous entrepreneurs and foreign investors’ in order to boost the economy, reduced unemployment and ravaging level of poverty in Nigeria.
Keywords: Entrepreneurship Development, Poverty Alleviation