The current global economic crisis has resulted in an unexpected level of global unemployment, in which our country,Nigeria is not left out. The problem of unemployment is generating greater concern globally, with the world's biggest economies adopting various strategies to combat the surge of unemployment.
A number of counties across the world have found entrepreneurship as a viable solution to the problem of unemployment. India, for instance has tremendously grown her economy over the years through the promotion of cottage industries in agriculture, manufacturing and other sectors. Japan came from nothing after the world war without natural resources like gold, crude oil, diamond etc to build one of the world's biggest economies through entrepreneurship and their human resources. Also the Asian tigers who today are dominating global entrepreneurship .
The Nigerian Government, recognizing the importance of entrepreneurship in economic development, through the National University Commission(NUC), has directed all universities and other tertiary institutions in the country to commence a compulsory course in entrepreneurship development .
Entrepreneurship is a solution to Nigeria's economic and unemployment problems. Nigeria holds one of the largest natural resources in the world, yet poverty, poor infrastructure , low industrialization and gross unemployment are beating hard on over 70% of its populace. The main divide between these abundant resources and their conversion into wealth is a wide knowledge gap, which is filled by entrepreneurship education.
Entrepreneurship combines creativity with innovation. Entrepreneurship is the gateway to financial freedom and a great platform for wealth creation that can help fast track Nigeria to become one of the world's greatest economies in 2020. Countries of the world, including the world powers have contributed so much resources and support towards entrepreneurship development because it has immensely contributed to their economic growth, development and advancement.
Entrepreneurship is about problem solving and adding value to lives . Our youths should be
encouraged to embrace entrepreneurship in this era ,where a number of top rated firms in the
financial industries are restructuring and downsizing, throwing a lot of people into the unemployed labour market. This trend has continued to increase the rate of unemployment with its backlash effect on economic growth.
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