Corruption and Entrepreneurship: Convergences and Trajectories on Youth Unemployment

Abstract

This paper analyzed corruption and entrepreneurship in a bid to find the nexus between the two. It is a theoretical survey into the subject matter using, basically, secondary sources of data. The work found that there is actually a link between corruption and entrepreneurship which on its own is a consequence of the effect of corruption as it leads to unemployment. Hence, the paper sought to explain that the failure of the state to provide employment has led to the rise of entrepreneurship drive in Nigeria. Entrepreneurship, to so many stakeholders and scholars, is a solution for unemployment, especially when the youths are involved. Unemployment on its own carries with it the side effects that are not just bad for the society but as well antithetical to entrepreneurship. It is also pointed out that some of the effects of corruption in the society like bad road network, difficulty in accessing fund, poor supply of electricity, nepotism, etc. have today turned to become the very challenges militating against the development, establishment and smooth running of entrepreneurial ventures in Nigeria. The paper, therefore, argues that since the idea of entrepreneurship in Nigeria came as a result of corruption, that same corruption is likely to be the only thing that can sustain it and eventually mare it, thereby leading to the same effect which is unemployment. Thus, it is suggested that Nigerian leaders should examine themselves and reduce the level of impunity with which they carry out corrupt practices. This way entrepreneurship will be able to thrive thereby reducing the issue of unemployment.