Rural entrepreneurship and rural development in Nigeria

Francis O. Nwankwo,Chinwe S. Okeke

doi:10.4102/apsdpr.v5i1.152

Francis O. Nwankwo, Chinwe S. Okeke

Open Access

https://doi.org/10.4102/apsdpr.v5i1.152

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Abstract

Rural entrepreneurship can help develop rural areas through good management of the local resources. Within the framework of integrated rural development theory, this study attempts to determine the perceptions of rural entrepreneurs on the nature and role of entrepreneurship in rural economic development. The study adopted the survey and descriptive design. The researchers randomly selected 200 rural entrepreneurs from five towns in Oyi Local Government Area. The major source of data was primary data, though secondary data such as journals, textbooks and Internet materials were also consulted. A 24-item questionnaire of strongly agree, agree, disagree and strongly disagree was designed and administered. Findings showed that rural entrepreneurship can help increase output, create employment and reduce rural urban migration among other things. However, rural entrepreneurs are faced with certain challenges such as insufficient funds and lack of government support. Based on these findings, the researchers recommended that rural areas should be made attractive and government should create enabling environments for rural entrepreneurs through their policies and other assistance.

Highlights

Governments in developing countries have come to the realisation that no development will be meaningful except when the rural communities are carried along
They agreed that it is a process of creating something new, nurturing it to grow for the rewards of financial and personal satisfaction
Process of creating something new, nurturing it to grow for the rewards of financial and personal satisfaction

Summary

Introduction

Governments in developing countries have come to the realisation that no development will be meaningful except when the rural communities are carried along This realisation is borne out of the reality that rural dwellers constitute a significant component of their population. Egwemi and Odo (2013) observe that Nigeria still falls far short of the economic and social progress required to impact the well-being of the average Nigerian, given that over half of Nigeria’s population live on less than 1 dollar a day. These obviously suggest the need for attention to rural areas for sustainable development. Taking cognisance of the level of economic activities in rural development, it becomes apparent that action must be taken to ensure sustainable rural development

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Discussion

Conclusion