WAGE EMPLOYMENT

Wage employment is a situation where a person working under somebody authority or

organisation in order to receive wage of a given period of time, it may be under
.individual, private or government organisation
SELF EMPLOYMENT
Self employment is a situation whereby an individual become entrepreneur in small
scale business establish his personal business take the various risks and undertakes
involved in the business and then become a master and owner where employ others
.rather being a servant who is under wage employment
Definition of Development
Development is defined as the act or process of growth, progress and improvement
within a physical setting. It may also be defined as the gradual growth of something so
.that it becomes more advanced and stronger
Definition of Entrepreneurship Development (ED)
May be defined entrepreneurship development as referring to the process of enhancing
entrepreneurial skills and knowledge through structured training and institution
.building programmes
HISTORY OF ENTREPRENEURSHIP IN NIGERIA
The history of entrepreneurship in Nigeria can be classified under the following
:stages
Early stage (1)
Modern stage (2)
The Early Stage
In Nigeria Entrepreneurship started when people produced more products than they
needed, as such, they had to exchange these surpluses. For instance, if a blacksmith
produced more hoes than he needed, he exchanges the surplus he had with what he
had not but needed; maybe he needed some yams or goat etc, he would look for
someone who needed his products to exchange with. This is what is referred to as
.trade-by-barter
A typical Nigerian entrepreneur is a self made man who might be said to have strong
will to succeed, he might engage the services of others like; friends, mates, in-laws etc
to help him in his work or production. Through this way, Nigerians in the olden days
were engaged in entrepreneurship. Early entrepreneurship is characterized with
production or manufacturing in which case the producer most often started with a
small capital, most of it from his own savings. Early entrepreneurship stared with
.trade by barter even before the advent of any form of money
The Modern Stage
Modern entrepreneurship in Nigeria started with the coming of the colonial masters,
who brought in their wears and made Nigerians their middle men. In this way, modern
entrepreneurship was conceived. Most of the modern entrepreneurs were engaged in
.retail trade or sole proprietorship
Later on as a result, the flow of entrepreneurship in the country was slowed down.
But, with more people being educated and the fact that government could no longer
employ most school leavers, economic programs to encourage individuals to go into
.private business and be self reliant were initiated
Some of the economy policy introduced include graduate employment, programmes
like N-Power, the Sure-P, the NDE programmes and so many other programmes, this
make it easy for entrepreneurs to acquire the needed capital e.g. farmers programmes
introduced by the Central Bank of Nigeria, the RIFAN (Rice Farmers Association of
.Nigeria)
Past Entrepreneurship Developments
In History according to Osalor (2008), people of the Ibo community in Nigeria are
considered one of the oldest entrepreneurs in Nigeria, their expertise stretching back
to times before modern currency during the oil boom of the '70s brought in billions of
.dollars into the Country and this help in entrepreneurship development in the Country
The Future of Entrepreneurial Development in Nigeria
The hope of entrepreneurship development in Nigeria does not only depend on
individual entrepreneurs alone with coming back of democracy in 1999 the then
government of former president Obasanjo brought about some plans that may take
Nigerians to top 20 world economists hopefully by the year 2020, Nigerian then
signed the UN Millennial Declaration of 2000. The federal government has initiated
successful programme aimed at promoting enterprises through widespread use of
technology and socially relevant business models. The extent of success of these and
.other measures, however, is still a matter of debate
Obstacles to Enterprise Development
The following are the most important obstacles facing rapid development of
:entrepreneurship in Nigeria
1. Lack of a pro-active regulatory environment that encourages innovative enterprise
development at the grassroots level.
2. Lack of adequate infrastructural facility like electricity good roads etc.
3. Trade administrative barriers that prevent capacity building and access to
technical support.
4. There is no good regulatory mechanism for effective oversight of enterprise
development especially in the areas of Medium and Enterprises.
5. Poor and improper access to vocational and skills-development training for rural
and urban youths.
6. Rampant political and bureaucratic and political corruption
7. Lack of adequate access to finance which is a major and most important problem
in setting a successful enterprise
8. Lack of access to Good Local and International market information.
Conclusively in Nigeria for us to become economic superpowers the road is strongly
bad, there is strong need for a better economic management that will help in turning
.our fortune around for good