CHAPTER ONE

INTRODUCTION 

1.1       BACKGROUND OF THE STUDY

The entrepreneur   plays  a vital  role  in the process  of  economic  growth  and  development. 

Iwu  Eze A. (1986) in a paper  presented  in on  entrepreneurship  development  in  Nigeria,  said  that  a  entrepreneur  is a  contractor  an  organizer  of  an  enterprise  for  the  public  a resourceful person  with  a dream.  entrepreneur   are  bold  men  and  woman  who  have  initiative and  the ability  to  lead,  manage and   take  the  consequences. They are  men  of  action,  risk  takers,  missioners,  creative  and  highly  respected of their  ability  to  effectively  and  efficiently  concubine   the  functions  of  management  to  achieve  the  goals. 

        He   also  noted that  during  colonial  period only  few   of  Nigerians  could  boast of personal or  family capital  to start  off  any  meaningful  business  and  hence  the  next    place  of  call for  business  and  financial  was bank.  It  is  a  well  known  flat that  banking   operations  during  the   colonial were  highly  and  sparsely  limited   urban  centers. The bank  at that  time  existed  to  serve  internets  of the colonial  civil  servants  who  had  appreciated  income  to  warrant   banking  transaction  Nigerians who  had  no  collaterals or  big  financials  to  guarantee their  loans  could  not  help  on  banks to  stat off  any business.

During  the  colonial  era the  Nigerian  business  seen  was  dominated even at the  grassroots  lends   by  inclines, Greeks,  Ghanaians,  Sierra Loninas  and  others. 

These  foreign  nationals  had  a better  exposition  from the  Nigerians  and  with  this  advantages,  it  was  easy to  dislodge  them  when  the  colonials  left the scene  in  1960. then, in  other  to  give  Nigerians  an  opportunity  in  participating  and   shaping  their  country economic  future  introduced  indigenization  and  enterprise  promotion  dance  of  1972  and  it’s  revision  in  1977. the  objective  was  to  foster economic  self  reliance  and  maximize  external intervention  in politics.

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