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Articles

CJOE: Vol.9 No.2 December 2025

Assessing the Impact of Sustainable Entrepreneurial Practices on Nigeria’s Economic Growth and National Development

Submitted
November 11, 2025
Published
2025-11-11

Abstract

This study assesses the impact of Sustainable Entrepreneurial Practices on Nigeria’s Economic Growth and National Development, as they play a vital role in achieving sustainable growth and development in Nigeria. The study uses ordinary least squares (OLS) estimation. Findings from this study show that LNGDP (-1) has a positive relationship and is highly statistically significant. A 1% increase in lagged GDP increases current GDP by 0.91%. Has a p-value = 0.0000 < 0.0, which is highly statistically significant at a 1% level. On the other hand, LNENT has a negative relationship and a marginally significant effect.  A 1% increase in ENT decreases current GDP by 2.56% the p-value = 0.0833 > 0.05, it is marginally statistically significant at a 10% level. Furthermore, LNCIT has a negative relationship and a marginally significant effect. A 1% increase in CIT decreases current GDP by 0.24%. P-value = 0.0978 > 0.05, it is marginally statistically significant at a 10% level. Therefore, the study recommends that the Government should promote Regional Economic Balance; given the significant regional disparities in GDP growth, sustainable entrepreneurship, and investment, targeted regional development policies should be introduced. These policies should focus on supporting underperforming areas with tailored entrepreneurship programs, infrastructure improvements, and capacity-building initiatives. The government should enhance Policy and Institutional Support for Sustainable Entrepreneurship; the government should establish coherent and long-term policies that promote sustainable business practices. This includes integrating sustainability into national entrepreneurship strategies, offering tax incentives or grants for eco-friendly enterprises, and creating regulatory frameworks that encourage responsible business conduct. The study contributes to the growth of both sustainable growth and development.