Enhancing productivity in Nigeria: from subsistence to transformational entrepreneurship

The development of Nigeria as an emerging economy is one of the highlights of globalization, but currently, the economy has been rife with turmoil. Despite the abundance of natural and oil resources, poverty levels have climbed, and there are high levels of corruption, inequality, suffocating economic environment, insecurity and ethno-religious crises. The country is better placed to develop a well-diversified economy but is at the crossroads of a momentous transition into the diversified economy. However, there are early signs that public-private investments are creating positive effects and Nigerians are awakening to the economic benefits of commercial agriculture, the internet of opportunities and technology entrepreneurship. Together they are creating a new type of entrepreneurship that could become the country's source of socioeconomic value creation in the form of "Transformational Entrepreneurship." One of the recommendations is the need to have a multidimensional approach to entrepreneurial talent, innovation fostering, financial access, and training to foster entrepreneurial ecosystem with less constrained growth potentials