Entrepreneurship, Unemployment and Economic Growth in Nigeria

This study examined the trend between entrepreneurship, unemployment and economic growth over the period 1981-2011. The study adopts secondary data as a source of data. Data for the purpose of this study was gleened from CBN Statistical Bulletin and National Bureau of Statistics (NBS) in Nigeria. This study made use of descriptive and econometric method of analysis. For the descriptive method, tables and/or graphs were used to achieve objective one while for the econometric method, Ordinary Least Square (OLS) method and Error Correction Model (ECM) was used to achieve objective two. The trend analysis showed that the variables are positively sloped which indicates that the stationary of the data. The econometric technique adopted showed that entrepreneurial activities, investment, and unemployment are statistically significant and positively related to economic growth. The result from this study also showed that there is a positive relationship between unemployment and economic growth. This study therefore recommended that developing countries such as Nigeria should create enabling environments for entrepreneurial activities which will consequently reduce unemployment while increasing both growth and standard of living