An Exploratory Study Of Igbo Entrepreneurial Activity And Business Success In Nigeria As The Panacea For Economic Growth And Development
Orugun, Juwon Johnson, Nafiu, Akeem Tunde
Key Words: Business success, Economic growth, Igbo Entrepreneurship culture, Igbo Trading Apprenticeship System.
Abstract: It is no doubt that Igbo entrepreneurs play vital roles in the growth of the Nigerian economy. Igbo Entrepreneurial activities have been observed to be a backbone for the economy of Nigeria and have facilitated improved standard of living of the people at both rural and urban settings. This study aims at investigating whether the Igbo entrepreneurial activities are the panacea for the Nigerian economic growth and development, and whether the Igbo Trade Apprenticeship System is a rationale behind their business success. The study used both primary and secondary source for gathering reliable and adequate data and information. The primary sources of data include the personal interview and questionnaire administered to the sampled metropolises (Sango-Ota, Ifo, Oshodi and Apapa); and the secondary sources include textbooks, journal and internet. Taro Yamane sampling method was adopted to determine the sample size, and Bowler’s proportional allocation method to distribute questionnaires in these selected metropolises. To analyze the data gathered for this study, descriptive statistical tool, tables and Likert Scale method were used. The study revealed that the Igbo entrepreneurial activities are the panacea for the Nigerian economic growth and development, and that ITAS is a business success factor. It was concluded that the Igbo entrepreneurial activities are the panacea for the Nigerian economic growth and development. The study therefore recommended that Nigerians and the people of other developing countries of the world should emulate the Igbo entrepreneurship culture for economic development purpose.
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