The environment is very important to human existence, and entrepreneurship on the other hand is known to be vital in economic development. In as much as entrepreneurship is of great importance, it is necessary for enterprising individuals and firms to consider the effects and impacts of their business operations on the environment; this leads to the concept of Green entrepreneurship, green economy, sustainability and eco-friendly products, services and marketing. The green economy became a UNEP agenda since the United Nations Conference on Sustainable Development (Rio +20) held in June 2012; countries are encouraged to take advantage of the transition to the green economy which offers huge economic opportunities for entrepreneurship. For this purpose, this study looked at the concept of green entrepreneurship with the view of the opportunities it offers for entrepreneurial development in Nigeria. An exploratory approach was adopted in this study which involves the review and analysis of various research works on green economy and entrepreneurship; and the findings indicate that most developed and even some developing countries have worked hard on their compliance to green requirements according to UNEP. Considering Nigeria’s compliance, the study recommends that much needs to be done regarding environmental sustainability, green economy and green entrepreneurship.