Entrepreneurship, Education and Economic Growth in Nigeria (1990 – 2023)

This study investigates the relationships among entrepreneurship, education, inflation, exchange rates, and economic growth in Nigeria from 1990 to 2023. Using advanced statistical techniques, such as unit root tests and Autoregressive Distributed Lag (ARDL) regression models, the research analyzes time-series data to uncover the trends and correlations among these key variables. The analysis shows significant fluctuations in Nigeria's economic growth, with entrepreneurship remaining relatively stable over the years but being significantly influenced by educational attainment and broader economic conditions, particularly inflation and exchange rate volatility. The findings highlight that while education is crucial for fostering entrepreneurship, it alone cannot drive sustainable growth without addressing economic instability.The results reveal that entrepreneurship in Nigeria is closely tied to changes in the broader economic environment. While the entrepreneurial sector has shown resilience, it is highly sensitive to macroeconomic factors such as inflation and exchange rate volatility. These economic conditions create an unstable environment for businesses, limiting the growth potential of entrepreneurial ventures. Educational reforms, though important, are not enough on their own to promote sustainable entrepreneurial activity. The study emphasizes that economic stabilization, through managing inflation and stabilizing exchange rates, is essential for creating a favorable environment for entrepreneurship to thrive.In light of these insights, the study recommends that Nigerian policymakers adopt a holistic approach to economic development. This approach should integrate educational reforms with strategies aimed at stabilizing the economy. By focusing on both improving educational outcomes and stabilizing macroeconomic variables, Nigeria can foster an environment that supports sustainable entrepreneurial activity and long-term economic growth. This comprehensive approach is vital for improving living standards, creating job opportunities, and achieving inclusive economic development in Nigeria..