Poverty, Youth Empowerment and Entrepreneurial Development in Nigeria

Poverty remains one of the most pervasive socio-economic challenges confronting nations globally, with its impact particularly severe in developing countries such as Nigeria. Despite numerous policies and programmes targeted at reducing poverty and empowering youths, the country continues to struggle with high unemployment, inequality, and limited entrepreneurial growth. This study examines the effect of poverty and youth empowerment on entrepreneurial development in Nigeria between 1980 and 2023. Secondary data sourced from the Central Bank of Nigeria (CBN), Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), and the National Bureau of Statistics (NBS) were analyzed using the Autoregressive Distributed Lag (ARDL) model. Findings reveal a significant negative relationship between poverty and entrepreneurial development, while youth empowerment and education exerted a strong positive influence on entrepreneurial development. Additionally, variables such as infrastructure and government spending on youth empowerment positively contributed to entrepreneurship growth, whereas unemployment and inflation hindered it. The study concludes that persistent poverty and inadequate empowerment initiatives have stifled youth-driven entrepreneurial development in Nigeria. It recommends that government and development agencies intensify funding and policy support for youth empowerment programmes, promote inclusive education, and enhance infrastructure to create a more conducive environment for sustainable entrepreneurship and national economic development.