Business and Entrepreneurial Development: A Panacea for Revamping Nigeria's Economy

This study critically examined the evolution of business and entrepreneurial development in Nigeria ranging from sole proprietorship, partnership, companies and co-operative ventures. It equally outlined the different areas of business and entrepreneurship and their positive impacts in wealth creation, self-reliance and economic development. In order to have critical view of the business and entrepreneurial activities, the researchers took interest in one of the businesses and industrial base in the country called Nnewi (Japan of Africa) Metropolitan City in Anambra State. The researchers employed primary and secondary sources of data collection such as interview, Focus Group Discussion (FGD), textbooks, journals and other related professional publications were used. The data collected from the respondents were analysed in tables, percentage while the designed hypotheses were tested using chi-square, which accepted alternate hypothesis (Hi) that says that business and entrepreneurial development have significant effect in revamping Nigeria's economy. The researchers offered recommendations on areas of improvements by government to strengthen the activities of business and entrepreneurship in Nigeria.