Empirical Investigation of Factors Influencing Drug and Substance Abuse in Tertiary Institutions in Osun State, Nigeria

Abstract

Though universally regarded as an engine of economic growth and equitable economic development. Entrepreneurship plays substantial roles in the process of industrialization and sustainable economic development. In fact, beyond any shadow of doubt, entrepreneurship has been playing very important roles towards fostering accelerated economic growth, development and stability within several economies of the world including Nigeria. They are labour intensive, capital saving and capable of helping to create various job opportunities that have significant economic impacts on the citizens. Hence, the main objective of this study is to examine the impact of entrepreneurship promotion on economic development in Nigeria. The methodology used in this study was a descriptive survey research design, with the population consisting of respondents who are entrepreneurs in Lagos; while the sample size was 154 with 118 responding to the questionnaire. Data were collected using a structured questionnaire and analysed using frequency tables and percentages. The study found that entrepreneurship engenders national economic activities through reduction of poverty among the citizens, provides sources of livelihood, creates and promotes wealth distribution, amongst others. In view of the above findings, the study suggested that public policy makers should recognize the essence of entrepreneurship to economic development, and adopt policies that will create a spill over effects of the activities of entrepreneurship around the country. Keywords: Entrepreneurship, Economic Development, Small and Medium Sized Firms, Nigeria