Nurturing Entrepreneurial Skills in Kids: Nigeria’s Approach

Leaticia Nkechi 12 min read

Last Updated on May 6, 2024

Introduction

As parents and educators, it’s essential to realize that entrepreneurship is not just for adults. Encouraging children to develop entrepreneurial skills is crucial to their future success, especially in today’s competitive world.

Entrepreneurial skills refer to the various abilities that a person needs to create, manage, and grow a business venture. Children must acquire essential skills like building resilience, adaptability, creativity, problem-solving, and independence for growth.

Nigeria has been recognized as one of the world’s most entrepreneurial nations, with a cultural emphasis on self-employment and small business ownership.

The entrepreneurial culture in Nigeria has made it an essential hub for start-ups and tech ventures on the African continent, even at the grassroots level.

Nigeria’s approach to nurturing entrepreneurial skills in children involves integrating entrepreneurship education into the country’s education system.

This approach seeks to equip students with the knowledge, skills, attitudes, and values needed to explore and develop their entrepreneurial potential from an early age.

The Nigerian government has also created various initiatives aimed at assisting young entrepreneurs. For instance, The Bank of Industry launched a program in collaboration with the National Youth Service Corps (NYSC) known as the Youth Entrepreneur Support Program (YES-P).

This initiative aims to provide young entrepreneurs with access to finance, capacity building, and mentorship.

In general, nurturing entrepreneurial skills in children is vital to their success in the future. Nigeria’s approach demonstrates the country’s commitment to equipping its citizens with the necessary tools to create and manage successful businesses.

Encouraging entrepreneurship in children can help unlock their potential and create a more prosperous future for them and their community.

Nigeria’s Approach to Nurturing Entrepreneurial Skills in Kids

Entrepreneurship education has become a crucial factor in the creation of job opportunities and wealth. Nigeria, being the largest economy in Africa, has realized the importance of nurturing entrepreneurial skills in kids from an early age.

The Nigerian government has made it a priority to focus on entrepreneurship education. The federal government allocated a significant budget towards promoting entrepreneurship education as part of the National Development Plan.

Several initiatives have been launched to encourage and equip kids with necessary entrepreneurial skills. The Nigerian government and the private sector collaborate on the National School Entrepreneurship Programme (N-SEP), which is one of them.

This program aims to promote entrepreneurship education through schools at every level and create a generation of young entrepreneurs.

Another initiative is the Presidential Youth Empowerment Scheme (P-YES), which is a flagship program of the Nigerian government’s intervention in youth empowerment. The program targets unemployed Nigerian youth and equips them with the necessary skills to become entrepreneurs.

The National School Entrepreneurship Programme (N-SEP) and the Presidential Youth Empowerment Scheme (P-YES) collaborate to equip kids with entrepreneurial skills throughout their education.

The National School Entrepreneurship Programme (N-SEP)

The N-SEP program aims to develop and implement a curriculum that integrates entrepreneurship education into schools’ curriculum.
It provides a framework for the implementation of entrepreneurship education in schools at every level, from primary to tertiary education.
The program provides support, guidance, and training for teachers, students, and entrepreneurs in the country.
The program also provides access to mentorship, funding, and other resources needed to start and grow successful businesses.

The Presidential Youth Empowerment Scheme (P-YES)

The P-YES program aims to create a culture of entrepreneurship among Nigerian youth and provide them with necessary skills to start and manage their businesses.
The program targets unemployed youth between the ages of 18 and 35 and provides a wide range of skills training, such as agriculture, ICT, fashion, and catering.
Participants are provided with seed capital and other resources to start and grow their businesses.
The P-YES program also provides mentorship, coaching, and networking opportunities to participants to boost their entrepreneurial skills further.

The above-listed initiatives provide multiple benefits for kids, such as:

Early exposure to entrepreneurship – Exposing kids to entrepreneurship education and helping them develop entrepreneurial skills from an early stage in life.
Enhancing creativity and innovation – Encouraging and promoting creativity and innovation in kids to help them develop new ideas and solutions that can create value in society.
Developing problem-solving skills – Providing kids with an opportunity to think critically and develop problem-solving skills that are essential for entrepreneurship.
Creating job opportunities – Equipping kids with the necessary skills and knowledge to become entrepreneurs and creating job opportunities.
Generating wealth – Encouraging entrepreneurship and creating successful businesses that can generate wealth and contribute to economic growth.

In essence, Nigeria has made a visible effort to promote entrepreneurship education among kids through several initiatives launched by the government.

The National School Entrepreneurship Programme (N-SEP) and the Presidential Youth Empowerment Scheme (P-YES) offer a platform for kids to develop entrepreneurial skills, resulting in job opportunities and wealth creation.

These initiatives are a critical step in the right direction towards creating a generation of young Nigerian entrepreneurs who can contribute to the economic growth of the country.

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Strategies for Parents to Nurture Entrepreneurial Skills in Kids

Encourage the child to take on responsibilities from a young age.
Teach them basic accounting and financial management skills.
Expose them to the concept of entrepreneurship by taking them to local markets and businesses.
Foster creativity by providing materials for them to experiment with, such as art supplies or science kits.
Encourage them to think outside the box by asking open-ended questions and praising innovative ideas.
Teach problem-solving by allowing them to try and figure things out for themselves, rather than just telling them the answer.
Encourage risk-taking by praising effort, even if the outcome is not successful.
Help them to set goals and create a plan of action to achieve them, teaching them to be organized and determined.
Teach them communication skills, as networking is a vital aspect of entrepreneurship.
Encourage them to work on their emotional intelligence, as being able to read and manage emotions is key to building successful business relationships.
Provide them with positive role models and expose them to entrepreneurs who have succeeded through hard work and determination.
Encourage them to learn from failures and mistakes, teaching them to overcome obstacles and not give up.

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Nurturing Entrepreneurial Skills in Kids: Nigeria's Approach

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Benefits of Nurturing Entrepreneurial Skills in Kids

It is no secret that entrepreneurship is the backbone of any economy. Many successful companies have started as small businesses that were nurtured and grew over time.

It is, therefore, important to instill entrepreneurial skills in kids from an early age, and Nigeria is taking this approach seriously. Here are the benefits of nurturing entrepreneurial skills in kids:

Increased Confidence

Kids who develop entrepreneurial skills are more confident in their abilities.
They learn that failure is not the end but rather a learning opportunity.
They are more willing to take risks, which can lead to great rewards in the future.

Independence

Entrepreneurial kids learn how to solve problems on their own.
They become self-reliant and are not afraid to make decisions.
They develop a sense of ownership and responsibility for their actions and decisions.

Adaptability

Entrepreneurial kids learn how to adapt and improvise when things don’t go according to plan.
They are flexible in their thinking and can come up with new solutions to old problems.
In an ever-changing world, being adaptable is a crucial skill to have, and entrepreneurial kids have a head start in this area.

The benefits of nurturing entrepreneurial skills in kids are not limited to the kids themselves. They can also benefit the larger society, particularly in Nigeria.

Job Creation

Nigeria is a country with a high rate of unemployment, particularly among the youth. By nurturing entrepreneurial skills in kids, we can create a new generation of job creators rather than job seekers.

Kids who develop these skills are more likely to start their own businesses and provide employment opportunities for others. This can lead to a reduction in unemployment and a thriving economy.

Innovation

Entrepreneurial kids are encouraged to think outside the box and come up with new ideas.

This mindset can lead to innovation and the creation of new products and services.

In a country like Nigeria, where there is a need for solutions to various societal problems, entrepreneurial kids can be the key to finding those solutions.

Empowerment

Nurturing entrepreneurial skills in kids is a form of empowerment. It gives them the tools they need to succeed and allows them to take control of their future.

This can be particularly important for kids from disadvantaged backgrounds who may not have had access to the same opportunities as others.

Empowering kids in this way can help break the cycle of poverty and lead to a more equitable society.

In summary, there are many benefits to nurturing entrepreneurial skills in kids. Increased confidence, independence, and adaptability are just a few of the advantages.

These skills can also benefit the larger society by creating job opportunities, fostering innovation, and empowering the next generation of leaders.

Nigeria is taking the right approach by instilling these skills in kids from an early age, and the country will undoubtedly reap the rewards in the future.

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Conclusion

In Nigeria, we nurture kids’ entrepreneurial skills by integrating entrepreneurship into the school curriculum and supporting them through programs like Junior Achievement Nigeria.

Additionally, parents can help by instilling an entrepreneurial mindset in their children from a young age and encouraging them to pursue their passions.

It is crucial to prioritize entrepreneurship education in Nigeria as it promotes innovation, creativity, and self-reliance in individuals, leading to economic growth and sustainable development.

Nurturing children’s entrepreneurial skills sets them up for future success and equips them to positively contribute to their communities and country.

As parents and policymakers, we must prioritize entrepreneurship education and provide the necessary support systems for children to thrive. Programs like Junior Achievement Nigeria should be expanded and made accessible to more children across the country.

Parents can actively encourage their children’s entrepreneurial spirit and provide opportunities for skill and interest development.

Together, let’s create a society where every child can access quality entrepreneurship education and support, realizing their dreams of becoming entrepreneurs.