Authors : Dr. Olasupo Johnson Adeokun

Volume/Issue : Volume 10 - 2025, Issue 2 - February

Google Scholar : https://tinyurl.com/4w87vdwy

Scribd : https://tinyurl.com/27wbv5jd

DOI : https://doi.org/10.5281/zenodo.14959446

Abstract : This study examines the effect of entrepreneurship and entrepreneurial mentorship on fostering economic development in Nigeria. The training provided to Nigerians by colonial powers primarily focused on reading, writing, and clerical skills, a mindset that has persisted for over fifty years. However, research and experience have shown that both formal and informal mentoring, along with entrepreneurship, offer significant advantages. These serve as essential and cost-effective means of continuous education, contributing to the repositioning and acceleration of efficient resource allocation and utilization. Various economic theories advocate for enhancing human capital through mentorship and entrepreneurship. A developing economy like Nigeria, striving to enhance living standards, must strengthen its focus on mentorship and entrepreneurship to refine human capital and improve its quality. Higher-quality human capital will facilitate a more effective approach to utilizing idle resources for economic development. Given the inherent benefits of mentorship and entrepreneurship, we propose several recommendations for improvement. These include encouraging successful individuals to mentor and develop others like themselves within a specific timeframe and integrating mentorship and entrepreneurship into all levels of education.

Keywords : Development, Entrepreneurship, Impact, Mentorship, Economic.

References :

1. Anukam, I. A. (2009). Entrepreneurship Skill Acquisition, Theory and Practice, Owerri:Chukwuemeka Publishers Co.
2. Arrow, K. J. 9T(1962). The Economic Implications of 9T32TLearning by Doing9T32T’. The Review of9T Economic Studies, Vol. 29, No. 3) .
3. Caldwell, B. J and Carter, M A Earl, eds., (1993). The Return of the Mentor Washington D.C.:The Falmer Press.
4. Chigbu, E. E. (2006). ‘Finance for Development,’ in Economic Development and Management,Lagos: Don Vinton Limited.
5. Caprio, Gerard, Jr. and Demirguc-Kunt, Asli (1997).           “The Role LongTerm Finance: Theory andEvidence,” Working Paper No. 1746, Washington: World Bank.
6. Doherty, M .T. (1999). ‘The role of Mentors in the Development of School Principals’,Dissertation submitted to the Faculty of the Virginia Polytechnic Institute and the State
7. University.
8. Eboh, F.E. & Uma, K. E. (2009). ‘The Need for Quality Manpower and Nigeria EconomicDevelopment,’ in Abia Journal of Population Studies, Vol 1.
9. Hisrich, R, Peter, M. P. and Shephard, D. A (2008).            Entrepreneurship, 6th edn, New Delhi: TataMcGraw-Hill Publishing Company Ltd.http://en.wikipedia.org/wiki/Mentorship
10. King, Robert and Levine, R. (1993). “Finance and Growth: Schumpeter Might be Right,”Quarterly Journal of Economics, Vol. 108, No. 3, pp. 717-738.
11. Lucas, R. (1988),        ‘On the Mechanics of Economic Development’, Journal of MonetaryEconomics 22
12. McKinnon, Ronald (1973). Money and Capital in Economic Development, Washington: TheBrookings Institution.
13. Mankiw, N. G, Romer, D. and Weil, D.N. (1992), ‘A Contribution to the Empirics of EconomicGrowth,’ in Quarterly Journal of Economics.
14. Meier, G..M. (1968). The International Economics of Development. Theory and Policy.NewYork, Harper & Row publishers.
15. Merriam, S. (1983). ‘Mentors and Protégés: A Critical Review of the Literature,’Adult Education Quarterly 33, No. 3, P: 162
16. Microsoft Encarta Dictionary (2009). 1993-2008 Microsoft Corporation.Onuoha, B. C. (2008) ‘Small Business Enterprises, Entrepreneurs and Entrepreneurship: AnOverview’ in Small Business Management and Entrepreneurship, PortHarcourt: AfricanEntrepreneurship and Leadership Initiative.
17. Osuka, B.O. (2006). ‘An Overview of the Development Planning Experience in Nigeria’, inPlanning for Economic Development, Lagos: Telbol Press and Publishers Ltd.
18. Rebelo, S .T. (1991): “Long-Run Policy Analysis and Long-Run Growth,” Journal of PoliticalEconomy, 99(3), 500–521.
19. Romer, P. (1986),       ‘Increasing Returns and Long-run Growth’, Journal of Political Economy 94.
20. Schooley, C, Moore, C. and Vitti, R. (2010).        Drive Employee Talent Development throughBusiness Mentoring Programs, Cambridge: Forrester Research Inc
21. Schumpeter, Joseph. (1934). The Theory of Economic Development, Cambridge: HarvardUniversity Press.
22. Shaw, Edward. (1973). Financial Deepening in Economic Development, New. York: OxfordUniversity Press
23. Solow, R. (1956),        ‘A Contribution to the Theory of Economic Growth’ Quarterly Journal ofEconomics 70.
24. United Nation Development Fund (UNDP )(1999). ‘Entrepreneurship Development’ New York:Evaluation Office No 2.
25. Villanueva, D. (1994). ‘Openness, Human Development, and Fiscal Policies:Effects on Economic Growth and Speed of Adjustment’. IMF Staff Papers 41:1–29.
26. Zey, M. G. (1990). The Mentor Connection: Strategic Alliances in Corporate LifeNew Jersey, Transaction Publishers.