Nigeria’s entrepreneurs are expressing a good deal of optimism, according to a recent survey by the Legatum Institute. Indeed, 82 percent of entrepreneurs believe Nigerian society has become more welcoming of entrepreneurship in the past 10 years. Download the Nigeria 2011 survey of entrepreneurs.
Some interesting facts from the survey:
- Nigerian entrepreneurs are largely motivated by a desire to be independent (32 percent) or to make a difference (28 percent).
- Contacts with other entrepreneurs form the single greatest source of individual desire to become an entrepreneur (30 percent).
- In the survey, 74 percent of respondents became entrepreneurs out of choice, 23 percent out of necessity, and 3 percent are following family tradition.
- Views of state governments’ performance are higher than views of national government performance. 73 percent reported that state government is doing a good job versus 63 percent reporting that national government is doing a good job.
- Nationally, the most cited factor needed to achieve future growth is to clean up corruption (45 percent).