African Cognitive Psychology (Social/Humanities overlap) | 12 July 2000
Entrepreneurial Skills Development and Economic Growth in Lagos' Informal Sector: An African Perspective
F, e, l, i, x, O, b, i, n, n, a, O, g, b, o, n, n, a
Abstract
Entrepreneurial skills development is crucial for economic growth in developing countries like Nigeria, where the informal sector plays a significant role. Qualitative research methods were employed to gather data from interviews with entrepreneurs and focus groups in Lagos's informal economy. Entrepreneurial training has led to a notable increase of 20% in the number of new businesses started within six months post-training, indicating positive short-term economic benefits. While initial results suggest promising outcomes, further longitudinal studies are recommended to assess sustained impacts and broader effects on the economy. Policy makers should consider integrating entrepreneurial skills development into existing programmes targeting Lagos's informal sector for sustainable growth.