COUNTRY REPORT
OF
FEDERAL REPUBLIC OF NIGERIA
By
RAIMI, LUKMAN.
CENTRE FOR ENTREPRENEURSHIP DEVELOPMENT,
YABA COLLEGE OF TECHNOLOGY, LAGOS, NIGERIA
1
HISTORY OF NIGERIA

Nigeria is a Federation of thirty-six (36) States and a
Federal Capital Territory, Abuja. Lagos remains the
commercial centre of Nigeria. It was under Colonial rule
for years until 1st of October, 1960 when it gained
independence from Britain. Nigeria was the creation of
the colonial administration. In fact, it is was so-named
by wife of Lord Lugard, Flora Shaw. The etymology of
Nigeria is from the amalgam of the words Niger and
Area. The country has more than 250 ethno-linguistic
groups, but the three dominant groups are the Hausas in
the North, the Ibos in the Southeast and Yorubas in the
Southwest. It runs a Presidential System of Government.
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NIGERIA’S MAP AND COAT OF ARMS
3
NIGERIA’S FLAG
4
MEANING OF COAT OF ARMS/FLAG
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The Coat of Arms of Nigeria has a black shield with two
white stripes that come together, like the letter Y. These
represent the two main rivers flowing through Nigeria:
the Benue River and the Niger River. The black shield
represents Nigeria's good earth while the two horses on
each side represent dignity. The eagle represents strength,
while the green and white bands on the top of the shield
represent the rich agricultural land of the country. The
flowers at the base are Nigeria's national flowers. The
green stripes in our flag represent Nigeria's agriculture
industry and its lush vegetation. The white stripe
represents the desire for peace and unity within the
country
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ECONOMIC PROFILE
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Endowed Land Area: 923,800 sq.km.
Population: 149,229,090 (July 2009, CIA World Fact book.)
1 out of every 2 W.African is a Nigerian; 1 in every 6 Africans
GDP (2007) is €124.1b, PCI is $2,400 (2009) or €886
GDP Growth Rate (2007): 6.2% ; 7.0% ave (2003-2007)
Manufacturing capacity utilisa-tion (2007): 53.5%
Inflation (2010) is 11.5% using consumer price index
Exchange Rate (2007): N174/€1, N157/$1
External Reserve (2007): €35.1b or $46.54 billion (2009 )
Unemployment rate: 4.9% (2009)
Gross external debt $9.689 billion
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ECONOMIC PROFILE
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Religion: Islam, Christianity and Traditional Religion
Language: English (Official), Igbo, Yoruba and Hausa
Labour force 47.33 million (2009.)
Labour force by occupation: Agriculture: 70%; Industry:
10%; Services: 20% (1999.)
Main Export: Crude Oil
External Exports $45.43 billion (2009.)
Main export partners: United States 42%, Brazil 9.5%, India
9%, Spain 7.3%, France 5.1% (2008) Imports $42.1 billion
(2009)
Main import partners China 16.1%, Netherlands 11.3%,
United States 9.8%, United Kingdom 6.2%, South Korea
6.1%, France 5.1%, and Germany 4.4% (2008)
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FDI stock $71.59 billion (31 December 2009)
MAJOR ECONOMIC ACTIVITIES
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8.
9.
Oil & Gas the largest income earning sector
Agriculture, the largest employers of labour
Manufacturing Sector
Telecommunication, fast growing/large market
Construction
Mining sector
Music and Entertainment rising appreciably
Tourism, is a potential less explored but rising
Trade (Import and Export) engages most
Nigerians
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SECTORALGROWTH
Sector
Agriculture
Mining and Quarrying
Manufacturing
Electricity, Gas & Water
Construction
Wholesale & Retail Trade,
Restaurants, Hotels
Finance, Insurance, Real Estate, etc.
Transport and Communications
Public Administration and Defense
Other Services
2008 (%)
6.3
-5.9
8.9
4.0
13.1
2009 (%)
6.2
-1.0
8.5
3.6
12.9
14.0
11.6
6.8
19.3
4.4
10.3
6.4
20.9
4.5
10.0
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CULTURE AND ARTS
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ARGUNGUN FISHING FESTIVAL (NORTH)
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IGBO NEW YAM FESTIVAL (EAST)
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OJUDE OBA FESTIVAL (WEST)
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CULTURE AND ARTS
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HOME VIDEOS AND FILMS
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SPORTS (FOOTBALL)
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GOVERNMENT EFFORTS AT PROMOTING
ENTREPRENURSHIP AND SMEs
National Directorate of Employment (NDE)
2. National Poverty Eradication Programme (NAPEP)
3. The Peoples Bank (Defunct)
4. Community Banks (Defunct)
5. Small and Medium Enterprises Development Agencies of
Nigeria (SMEDAN)
6.
Raw Materials Research and Development Council
7. Nigerian Export-Import Bank
8. Federal Institute of Industrial Research, Oshodi
9. Nigeria Investment Promotion Commission (NIPC)
10. Nigerian Export Promotion Council (NEPC)
1.
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POLICIES PROMOTING ENTREPRENURSHIP
AND SMEs
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Indigenisation Policy
Nigerian Enterprise Promotion Decree
Export Promotion Policy
Free-Trade Zone policy
Fist National Development Plan
Second National Development Plan
Third National development Plan
Fourth National Development Plan
National Economic Empowerment Development Strategy
Vocational Education Policy
Entrepreneurship Education across Tertiary Institutions
Micro-Finance Bank Policy Framework
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PRIVATE SECTOR INTERVENTION AT
PROMOTING SMEs IN NIGERIA
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Nigerian Association of Small Scale Industrialists
(NASSI)
National Association Of Small And Medium Enterprises
(NASME)
Nigerian Association of Chambers Of Commerce,
Industry, Mines and Agriculture (NACCIMA)
Manufacturers’ Association of Nigeria (MAN)
Micro-Finance Banks (MFB)
Cooperative Thrift and Credit Societies
Trade Associations
NGOs/Better life, FSP et cetera
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REGULATORY AND WATCHDOG AGENCIES
FOR CONTROL OF SMEs/INDUSTRY
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Federal Environmental Protection Agency (FEPA)
National Agency for Food and Drug Administration and
Control (NAFDAC)
Standards Organisation of Nigeria (SON) – ISO
Corporate Affairs Commission (CAC) - Incorporation
Central Bank of Nigeria (CBN) –MFI, MFB et
Securities and Exchange Commission (SEC)
National Insurance Commission (NICOM)
Economic and Financial Crimes Commission (EFCC)
National Drug Law Enforcement Agency (NDLEA)
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FAILURES OF GOVERNMENT AND
PRIVATE SECTOR’S EFFOERTS
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Some of these efforts were frustrated by lack of
managerial wherewithal, lack of supervision,
mischannelling of credit facilities, duplication
of roles, mediocrity, nepotism, bureaucratic
delays in policy implementation, frequent
changes in government polices/programmes,
bribery and corruption (Olaitan 2001;
Adeyemi, 2008).
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BALANCING GOVERNMENT &
PRIVATE SECTOR INTERESTS
Yaba College of Technology
came in like other tertiary
institutions in Nigeria to
balance government interests
with those of the private sector
through practical enterprise
development education for all
Diploma students.
Government
Interests
Private
sector
Interests
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VISION
“Our Vision is to be the leading Polytechnic
in Nigeria by providing first-rate academic,
professional and entrepreneurial education
to our students who are empowered to
make a positive impact on the technological
and socio-economic development of the
country”.
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MISSION
“Yaba College of Technology is for the
training of Knowledgeable and Selfreliant Graduates, worthy in character
and learning through effective teaching,
innovative learning and research for
better living”.
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BRIEF ON YABATECH’S CAPACITY
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Yaba College of Technology is the first tertiary
institution in Nigeria. It was established in 1947.
It currently runs over 60 National and Higher
National Diploma programmes under seven
schools and 40 departments. The college caters
for over 16,000 students and has over 1,500 staff.
The Federal Government of Nigeria has accorded
it a university status recently, the process of its
conversion is being finalised by the National
Universities Commission (NUC)
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PHYLOSPHY OF ENTREPRENEURSHIP
DEVELOPMENT
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In a bid to geometrically multiply the population of
entrepreneurs in the society and set a pace as Africa's
leading institution in terms of out-turn of students
fully prepared and equipped to be job-creators, the
College innovated Entrepreneurship Development
Programme (EDP) .
EDP is administered by the College as a compulsory
subject at distinct stages of academic studies and thus
has proven to be a unifying factor of students in the
campus. We are sent here on the bill of the Centre to
the tune of $12,000 to learn about Indian experiences.
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CURRICULUM OF EDP
EDP curriculum contains:
 Mentoring/Coaching/Re-orientation/Psychology
 Training on idea generation and its processes
 Reports and Proposal Writing for start-up
 Market Survey for start-up/Post start-up survey
 Case Study of entrepreneurs and nations
 Manufacturing of products by students (40%)
 Packaging and advertisement and Book-keeping
 Bi-annial Exhibitions and Fairs, Industrial tours
 Direct market/relationships management
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SERVICES OF EDP
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EDP services include:
Consultancy services to Industries – R & D
Business Review/Feasibility Studies/Marketing
Entrepreneurship Training/Development of workforce
Facilitation of Exchange Programme (EDI, Songhai,
PAU, UI, Oxford Brookes, British Council)
Staff Skill Acquisition Programme
Basic Trainings for artisans and drop-outs
Project Supervision
Production and Direct Marketing of Bread, Sachet
water, paint, textile, bricks, architectural model etc 28
SELF RELIANT GRADUATES
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SELF RELIANT GRADUATES
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SELF RELIANT GRADUATES
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COLLEG’S ICONS AND HERITAGE
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AERIAL VIEW OF YABATECH
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END NOTE

Martin Luther King said: “Through our
scientific genius we have made this world a
neighbourhood; now through our moral and
spiritual development, we must make of it a
brotherhood.” . Despite all odds, Nigerians
remain “Good People, Great Nation”
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Thank you.
Questions?
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