Interdisciplinary Seminar:
Overcoming Hunger and Poverty as a Source of Insecurity and Conflict
Convener: Alice Kagoda, Uganda

Effective Entrepreneurship in Nigeria: The Key to Sustainable Development in the New Millennium
Chika N. Oguonu, International Member, Nigeria

An entrepreneur is one who initiates a new business in the face of risk and uncertainty for the purpose of satisfying human needs and making a profit. He scans the environment, identifies opportunities, and combines and utilizes the necessary resources to capitalize on such opportunities. He carries the burden of risk and his success or failure depends to a large extent on his managerial ability. Most small and medium sized businesses in Nigeria are owned by entrepreneurs. These entrepreneurs include women. Entrepreneurs have contributed greatly to socio-economic development in Nigeria through job creation and provision of goods and services. However, Nigerian entrepreneurs have a lot of deficits. These include poor management, poor finances, insecurity, and poor infrastructural amenities. Entrpreneurship will definitely contribute more with better management and an enabling environment. The thrust of this article therefore is to overview the management of this type of business.

Dr Chika Njideka Oguonu is a Senior Lecturer in Public Administration and Local Government at the University of Nigeria, Nsukka, where she was awarded a PhD in Management in 1999. She has published a number of articles on issues of accountable management, public administration and social policy.