Addressing the root causes of anti-moral entrepreneurship among Nigerian youths
By Blessing Micah
Nigerian youths are highly creative and innovative; they have great potential for coming up with new ideas and that makes them potential entrepreneurs.With proper resources and support, they can play a key role in the economic development of Nigeria. Hence, the Government has not relented in ensuring that Nigerian youths are provided with empowerment through schemes that supports them to startup their ventures.
The Government through the CBN set up initiatives such as The P-yes and The youth entrepreneurs development programs which provides financial supports, mentorship, and training for young entrepreneurs this are just one among many schemes and programs which has cost the government Billions of naira to run and the sole aim is to raise entrepreneurial youths and create thousands of Jo opportunities and establish self reliance. Also, the introduction of a compulsory general course by the Nigerian Government in all universities known as Entrepreneurship and innovation has captivated and trailed the mind of the youth to know what entrepreneurship is ,it’s basics and the good it can do to every youth and the entire country especially amid the face of a challenging economic landscape and the global demand for creativity and innovation which keeps increasing by the day.
While many youth have taken up this challenge and are taking a positive difference in their communities, there is also a troubling trend of young people engaging in fraudulent or illicit activities to try to get ahead. According to a report form the economic and financial crimes commission in 2022 alone internet fraud cost Nigeria $500million internet fraud is a serious problem in Nigeria,ventures such as manufacturing fake products is on the rise.What can be the cause of the illicit entrepreneurial ventures?
The desire to take shortcuts and get rich quick
Shortcuts is the part of laziness not ease, many Nigerian youths have a wrong mindset towards success and profit especially with the rise of pressures coming from social media and the various contents youths come across which triggers desires to get rich quick spend big like celebrities they look up to leads to acquiring money all means especially with the rate of unemployment and harsh economic situations.The mind of many youths are limited to profits and which has lead to money at all cost syndrome and not on job and value creations that can be of great impact to Nigeria and the world at large.
Lack of adequate Mentorship and Mindset building
Many youth venture into various entrepreneurship sectors without proper mentorship and with a poor mindset.umility of learning from experienced person’s. Sadly in Nigeria a poor system of mentorship for young entrepreneurs due to lack of proper knowledge and guide many have crumbled due to multiple failure. As a result of trial and error many youths have given up on their on innovations and succumbed to peers pressures that has lead them to illicit activities to “for survival”. Also the mind of many youths is not adequately built to with stand the pressures of entrepreneurship in its infantry stage and have given up on their innovations due frustration and poor resilience which are all a product of a wealth built mind.
Many illicit entrepreneurship emerge as a result of the success of this fraudulent acts
Another concern is the impact that these negative examples have on younger youths, who may been inspired to take the same shortcuts to success that they see being promoted by some of their peers.Negative influence has resulted to anti moral entrepreneurship ventures many fellow what they see and this has caused great havoc because, this practices not only hurt the people who are scammed or harmed by counterfeit products , but also damage the reputation of all Nigerian entrepreneurs and make it harder for honest business to succeed.Indeed anti moral entrepreneurship has eaten deep into Nigerian societies. However, hope is not lost because,majors can taken to curtailed this trend.
Teaching young people about the important of hard work, patience , and building up their business over time.There is need to instill in them the values of contentment and gratitude. By focusing less on material wealth and more on the intrinsic rewards of their work,we can help them build a mindset that will lead to true success.Also Every Nigerian youth has the potential to create a better future for themselves and their communities. The key is to harness their skills and talents while ensuring that their entrepreneurial ventures are morally sound. This will lead to greater job innovations crime-free societies, and ultimately a better Nigeria. Let’s work together to make this vision a reality.
Blessing Micah, is a 200 level student from from the department of Mass Communication, Ahmadu Bello University Zaria.
