Entrepreneurship in Nigeria Construction Industry: Opportunities and Challenges

Abstract

Nigeria as a developing country is faced with many challenges, of which unemployment rank high. Construction industry is one area where there are many business opportunities for young professionals in the built environment with entrepreneurship skills. There are many opportunities of start-up business for fresh graduates of civil engineering and architecture despite various challenges in the country. This research work examine various factors mitigating against entrepreneurial moves among young construction professionals. Literatures, questionnaire survey and experts’ interviews were used in the data collection and SPSS for the analysis. The result of the study reveals that high demand for social housing, increase in real estate investment and availability of construction materials locally are top three motivations for young entrepreneurs. While huge start-up cost, inaccessibility to bank loan/finance and unfriendly government policies are top three challenges faced by young graduates venturing into construction industry. The study should serve as a good guide to young graduates of civil engineering and architecture desiring to start their own business.