Socio-Cultural Factors, Entrepreneurial Policies and Sustainable Development In Nigeria

One of the major focus of successive governments in Nigeria is for the country to attain sustainable development. One of the key tools that could be used to achieve this goal as identified by many development scholars is the development of entrepreneurship ecosystem. Consequently, over the years, Nigeria government has put vested interest in the development of this sector by initiating series of public policies and programmes. However, the sector is yet to grow appreciably despite the enormous efforts put up by successive governments. This paper argued that the persistence neglect of the relevance of socio-cultural factors in the formation and implementation of entrepreneurial policies in the country could be counted as one of the major factors militating against the effective workability of such policies. Arguing through sociological lens, this paper utilized rational-conceptual approach to assert the fact that there is the need to give socio-cultural elements prominent consideration in the formulation and implementation of entrepreneurial policies so that people’s socio-cultural realities such as family socialization patterns, culture of business orientations, educational background could be captured. The study concluded that socio-cultural factors play significant role in determining the success or otherwise of any entrepreneurship policy. Based on the findings, the study recommended that such socio-cultural factors should often be identified and considered in the formulation and implementation of entrepreneurial policies to enable the vibrancy of such policies that it would enhance sustainable socio economic development in the country.