The Role of Enterpreneur in Nigeria

Topics: Agriculture, Agricultural economics, Sustainable agriculture Pages: 8 (1980 words) Published: February 2, 2013
The term entrepreneur ( /ˌɒntrəprəˈnɜr/) is a loanword from French and was first defined by the Irish-French economist Richard Cantillon as the person who pays a certain price for a product to resell it at an uncertain price, thereby making decisions about obtaining and using the resources while consequently admitting the risk of enterprise. The term first appeared in the French Dictionary "Dictionnaire Universel de Commerce" of Jacques des Bruslons published in 1723. Over time, scholars have defined the term in different ways. •1803: Jean-Baptiste Say: An entrepreneur is an economic agent who unites all means of production- land of one, the labour of another and the capital of yet another and thus produces a product. By selling the product in the market he pays rent of land, wages to labour, interest on capital and what remains is his profit. He shifts economic resources out of an area of lower and into an area of higher productivity and greater yield. •1934: Schumpeter: Entrepreneurs are innovators who use a process of shattering the status quo of the existing products and services, to set up new products, new services. •1961: David McClleland: An entrepreneur is a person with a high need for achievement [N-Ach]. He is energetic and a moderate risk taker. •1964: Peter Drucker: An entrepreneur searches for change, responds to it and exploits opportunities. Innovation is a specific tool of an entrepreneur hence an effective entrepreneur converts a source into a resource. •1971: Kilby: Emphasizes the role of an imitator entrepreneur who does not innovate but imitates technologies innovated by others. Are very important in developing economies. •1975: Albert Shapero: Entrepreneurs take initiative, accept risk of failure and have an internal locus of control. •1975: Howard Stevenson: Entrepreneurship is "the pursuit of opportunity without regard to resources currently controlled." •1983: G. Pinchot: Intrapreneur is an entrepreneur within an already established organization. •1985: W.B. Gartner: Entrepreneur is a person who started a new business where there was none before.


Any nation that wants to develop must look inwards to identify areas where it has comparative advantage over other nations and seek to develop the identified areas.

Apart from hydrocarbon of which Nigeria is the sixth largest exporter of crude oil and has the second largest known deposit of natural gas in the world, Nigeria also has comparative advantage in the Agricultural sector, where varieties of crops and animals are produced and reared respectively due to favorable climatic condition, good soil structure and the fact that over 70% of the entire land mass of the country is arable, though only about 48% are presently been cultivated.

The equatorial maritime air mass along the coast influences the climate which is characterized by high humidity and heavy rainfall, while the tropical continental air mass in the North brings dry, dusty winds from the Sahara. The temperature varies considerably with the season, as does rainfall which is far less in the North. The main rains occur between April and October with average rainfall ranging from 2,497mm (100 inches) in the South to 869mm (32 inches) in the North.

Until the late 1970’s when hydrocarbon was discovered in commercial quantity in Oloibiri ,present day Bayelsa state , Agriculture remained the mainstay of the economy contributing over 90% of the Gross Domestic Product (GDP) of the country as against the 40% it now contributes with crop accounting for 80%,livestock 13%,forestry 3% and fisheries 4%. Despite the prominent role of the Petroleum sector, Agriculture still employs about 70% of the entire population both formal and informal.

The investment climate in the sector before the advent of the present civilian dispension was considered unattractive, low in profitability and no serious incentives for investors.

Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Roles of Enterpreneurs Essay
  • role of agriculture in nigeria Essay
  • Nigeria Essay
  • Nigeria Essay
  • Nigeria Essay
  • nigeria Essay
  • The Role of Accounting in Societal Development in Nigeria Essay
  • The role of agricultural sector as an accelerator for economic growth in Nigeria. Essay

Become a StudyMode Member

Sign Up - It's Free