ENTREPRENEURSHIP DEVELOPMENT: A POTENTIAL SOLUTION TO INSECURITY THROUGH ECONOMIC EMPOWERMENT IN ABUJA, NIGERIA

Abstract

The menace of insecurity has been a great challenge deterring economic growth in Nigeria. Hence, this paper examines the issue of insecurity in Nigeria and propose entrepreneurship development through economic empowerment as solution to reduce youth unemployment and insecurity. The research delves into the role of entrepreneurship in alleviating poverty, empowering the economy, and enhancing the standard of living in Abuja, and how these factors ultimately contribute to the reduction of insecurity. The study employed a descriptive survey research design using a 5-points likert scale questionnaire for data collection. The study centers on a specific population of business owners who were previously incarcerated. The study, therefore, employed purposive sampling method to select 286 business owners who are ex-inmates. Three hypotheses pertaining to the influence of entrepreneurship development variables on insecurity mitigation, namely, poverty alleviation, economic empowerment, and improved standard of living were developed and tested. Descriptive and inferential Statistics were used for data analysis. The results demonstrated that a strong relationship exist between entrepreneurship development and insecurity mitigation, with all three variables exhibiting a significant effect. The findings imply that addressing these variables through entrepreneurship initiatives will play a pivotal role in diminishing insecurity levels in Abuja, thus providing a deeper comprehension of the relationship between entrepreneurship development and insecurity mitigation. These findings underscore the importance of entrepreneurship development in fostering economic stability and security in Abuja, and emphasize the necessity for targeted policies and support mechanisms to promote entrepreneurship among vulnerable populations, such as ex-inmates. A major contribution to the existing body of knowledge lies in the identification of the substantial impact of entrepreneurship development variables in mitigating insecurity. The study concludes with recommendations for policymakers and stakeholders to prioritize entrepreneurship development as a key strategy for addressing insecurity and promoting sustainable development in Nigeria.