International Journal of Research and Innovation in Social Science (IJRISS) | Volume IV, Issue XI, November 2020 | ISSN 2454–6186

Sustainable Entrepreneurship and Sustainable Development in Nigeria: Prospects and Challenges 

Adijat Olubukola OLATEJU^1*, Rasaq Akonji DANMOLA², Abubakar Wambai AMINU^3
1,2 Faculty of Social Sciences, Department of Economics, Lagos State University, Ojo, Lagos, Nigeria.
³Faculty of Social Sciences, Department of Economics, Bayero University Kano, Kano State, Nigeria
*Corresponding Author

Abstract:- Entrepreneurship development is not a new tool for poverty reduction across the globe. However, with the recent awareness of the need to make the environment healthy for people, planet, and bio diversity, the need for sustainable entrepreneurship has been in the limelight. For sustainability to be achieved in terms of economic, social and environment, entrepreneurs both in developed and developing countries have been encouraged on the need to go green in their business activities. However, in most developing countries like Nigeria, the awareness is low. In view of this, this study focuses on this grey area of research by conceptualizing what sustainable entrepreneurship is all about. Specifically, the study explains the concept of sustainable development and sustainable entrepreneurship, examines the prospects in sustainable entrepreneurship, and identifies some challenges that could be encountered when entrepreneurs embarked on sustainable entrepreneurship. This will help to create awareness for both existing entrepreneurs and new entrepreneurs on the need to go green in their business activities, which will eventually help to safeguard people and the environment from environmental issues such as pollution and degradation and at the same time enhances profitability.

Key words: Entrepreneurship, , green, Sustainable Development, pollution, degradation

Introduction

Resources are not equitably distributed by nature, in view of this, protecting resources and planet is germane in order to ensure inclusive growth and sustainable development. To achieve this, countries are advised at the United Nation conferences and events on environments to embark on green economy which would help to ensure a resource efficient economy.