Impact of Entrepreneurship and Innovation on Sustainable Development in Nigeria

Abstract

This study explores the influence of entrepreneurship and innovation on Nigeria’s sustainable development, highlighting key enablers and barriers within a complex socio-economic landscape. Using hierarchical regression analysis of data from North Central Nigeria, findings reveal that access to resources and technological adoption are the most significant drivers of sustainable outcomes. Resource availability alone accounts for over 50% of sustainability variance, underscoring its foundational importance, while technological integration further enhances positive impacts. Although policy, cultural factors, and entrepreneurial motivation exhibit positive associations, their individual effects are less statistically significant, suggesting context-dependent roles. The results emphasize the need for targeted policies that improve resource mobilization, streamline regulations, and foster innovation ecosystems. Promoting technological capacity and aligning socio-cultural values with sustainability principles are vital for resilient, long-term socioeconomic growth. This research offers actionable insights for policymakers, development agencies, and entrepreneurs committed to leveraging innovation for Nigeria’s sustainable future.