Irrespective of benefits associated with entrepreneurship, there are a lot barriers that have prevented Nigerian youth from fully realizing their potentials and assuming leadership position in the society. Due to the interrelationship between these factors, we shall discuss the major barriers identified:-
(1) Absence of Infrastructural Facilities: It is a known fact that certain infrastructural facilities aid the development of mind and body and assist productivity in any environment.
These facilities are good roads, good water supply, constant electricity, access to information and communication technology. If these things are lacking in any country, the economy will be adversely affected. In Nigeria, these basic work tools as well as the enabling environment is lacking. These has frustrated a lot of young people with bright ideas and the corresponding spirit to effect a change in some areas of our life.For example, the power has always being the greatest challenge to any aspiring entrepreneur in Nigeria. Because power supply is epileptic most times business have to run on generator.The cost of this alternative source of power supply usually erodes whatever profit an entrepreneur put aside for his enterprise.In times of energy crisis when there is shortage of fuel supply , businesses are almost grounded due to unavailability of power to power generators.This avoidable factor adds to overhead costs and unnecessarily makes the cost of production very high.
Another factor preventing young people from going into entrepreneurship is the bad state of the roads in Nigeria and the lack of adequate and alternative means of transportation.Air transport in Nigeria is expensive and rail is almost non existent.Since road is the most affordable means, most people prefer to travel by road which is often a harrowing experience for many. The transportation system is unorganized and dilapidated roads connecting the states and heavy traffic in the commercial cities are often a nightmare for business men.
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