The Challenges of Entrepreneurs in Accelerating Sustainable Development in Natural Resource-Rich Nigeria

Abstract

Although Nigeria is rich with abundant natural resources and factors of production, its development paradoxically remains sluggish since its independence in 1960. This review examines a number of daunting challenges that make entrepreneurs unable to accelerate sustainable development in Nigeria. Findings support the theories reviewed in the study, which are the Schumpeterian Theory of Economic Development and the Resource Curse Theory. Government ought to make deliberate efforts to address these challenges to enable entrepreneurs take their rightful place to drive the economy for the needed sustainable development.