Sustained economic growth in developing nations—particularly those grappling with high unemployment, entrenched poverty, and inadequate infrastructure—demands effective leadership grounded in value reorientation, innovation, and an enabling institutional environment. In Nigeria, the politics of tax reform, revenue allocation, resource control, and persistent power struggles have stalled meaningful socio-economic progress. This paper examines how Nigeria can unlock entrepreneurial potential through the rigorous application of David Ricardo’s Comparative Advantage model. Drawing on a desk-based methodology, qualitative data from secondary sources were analysed using population, land mass, and the 2024 national budget as key parameters. Additionally, Porter’s Five Forces framework and Joseph Schumpeter’s theory of entrepreneurship were employed to illuminate how transformational entrepreneurship can drive equitable national development through healthy competition. This study finds that reducing overdependence on monthly Federal Accounts Allocation Committee (FAAC) disbursements, fully harnessing Nigeria’s abundant mineral resources, and curbing corruption and ethnocentric governance are critical to achieving inclusive economic growth. The paper recommends three-pronged approach: sustained value re-orientation and public enlightenment campaigns to shift societal attitudes; targeted development of natural resources across federating states to ensure equitable growth; and the cultivation of principled, corruption-free leadership as a foundation for long-term socio-economic development in Nigeria.
Ikedieze Arisa Onuoha (2026) studied this question.