TRENDS IN THE DEVELOPMENT OF INNOVATIVE ENTREPRENEURSHIP IN THE WORLD COMPARABLE WITH NIGERIA
( Pp. 38-41)

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Ofem Lekam Ujong aspirant kafedry inzhenernogo biznesa i upravleniya predpriyatiem
Peoples’ Friendship University of Russia
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Abstract:
Nigeria is classified as a mixed economy emerging market, and has already reached lower middle income status according to the World Bank with its abundant supply of natural resources, well-developed financial, legal, communications, transport sectors and stock exchange (the Nigerian Stock Exchange), which is the second largest in Africa. In 2014, Nigeria's economy (GDP) became the largest in Africa, worth more than $500 billion, and overtook South Africa to become the world's 21st largest economy. (World Economic Outlook Database, October 2014) Furthermore, the debt-to-GDP ratio is only 11 percent (8 percent below the 2012 ratio). Despite this glaring facts, there is a major gap in the industrial development process of Nigeria in the past till date. The neglect by the government of Nigeria to embark on innovation in the industrial sector is a major concern of this paper.
How to Cite:
Ofem L.U., (2015), TRENDS IN THE DEVELOPMENT OF INNOVATIVE ENTREPRENEURSHIP IN THE WORLD COMPARABLE WITH NIGERIA. Computational Nanotechnology, 2: 38-41.
Reference list:
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Lawal, W. A., and Ijaiya, M. A. (2007): Small and Medium Scale Enterprises Access to Commercial Banks Credits and their Contributions to GDP in Nigeria . Asian Economic Review, Journal of the Indian Institute of Economics. Vol. 49(3), pp. 360-368
http://www.worldbank.org/en/country/nigeria
Keywords:
innovation, research and development, entrepreneurship, economy, business.