CHAPTER ONE
1.1 BACKGROUND OF THE STUDY
Enterprise states limitless prospects and reward for private enterprise and self-employment. It is an economy that rewards creativity, initiative and hard work (Ugbaja, 1998:115). Nigeria is one of such economy. People are therefore self-determining in their approach to life. Every one seems to be thinking of what he or she can do with his or her hands or brain, since it is obvious that the government cannot provide gainful employment for all the people.
Since 1960, the country’s development plan have land a great emphasis on public sector control of the economy (Eze 1997:12) we have a situation where the public/private sector mix has increasingly titled towards public sector domination. The trend has generally distinguished the government as a major investor in a let of business which otherwise should have been left to the private sector (Ike 1998:23) the net effect of this type of government participation in (and control of) business activities has been the emergence and general perception of the government as the provider of almost all that make life worth living, including employment.
But today the situation is changing. Bad economic management on the past leaders, wasteful attitude of the government and the people as well as the relegation of the agricultural sector and private initiative has now given way to hunger, squalor, diseased and mass unemployment among other (Okeke, 1997: 29).
Nigeria appears to be currently finding the right path to a possible entrepreneurial venture in the 21st century. Nigerians are now forced to start a fresh re-awakening to the real challenges and realities of true nationhood. The new emphasis on self-employment is understood to be in line with the above consideration. The unemployment situation in the country is luring a lot of unemployed Nigerians, including graduates into self-determination through self employment (Aluko, 1988:15)
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