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Lwati: A Journal of Contemporary Research

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Actualization of Nigeria’s Vision 20:2020 Through Entrepreneurial Development Culture

JA Omoankhanlen, BSO Ighalo

Abstract


A worldwide consensus on the critical role of competitive markets and entrepreneurs in economic development has emerged in the last decade. In developing countries, the primary barriers to economic growth is often not so much a scarcity of capital, labour or
land, as it is a scarcity of both the dynamic entrepreneurs that bring these together and the markets and mechanisms that can facilitate them in this task. The purpose of this paper is to describe the essential features of an entrepreneurial development culture in Nigeria, as
it relates to vision 20:2020 and provides a sense of direction for Nigerian vision 20:2020 planners, makers of policies and government – for them to quickly realize and capitalize on entrepreneurial development culture, since it is a tool for any economy development
– thus, it implies that entrepreneurial development culture is indispensable if Nigeria must actualize vision 20:2020. Conclusively, the attainment of the Nigeria’s vision 20 – 2020 and other development milieu such as Seven – Point Agenda, National Economic
Empowerment and Development Strategy (NEEDS) and Millennium Development Goals (MDGS) etc can hardly be achieved without a very strong backing of entrepreneurial development culture. We therefore argue that entrepreneurial development culture that is based on “indigenous entrepreneur” should stand as the basis for our development as a nation.



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