The Nigerian Entrepreneurial Ecosystem: Understanding its Leverage and Exploits

Abstract
This study examines the persistent challenges constraining Nigeria's entrepreneurial ecosystem despite its potential to drive economic growth and job creation, focusing on systemic barriers that hinder startup development and scalability. Through a rigorous desk review methodology analyzing secondary data from peer-reviewed journals (2019-2024), government reports (CBN, SMEDAN), and global databases (World Bank, NBS), the research identifies three interdependent ecosystem components: actors (entrepreneurs, investors, policymakers), environmental factors (institutional frameworks, infrastructure, financing), and support systems (incubators, networks). The study reveals critical challenges including policy inconsistencies, infrastructural deficits costing businesses $29 billion annually, and financial exclusion affecting 80% of SMEs, alongside emerging opportunities in digital transformation and informal sector resilience. Key findings demonstrate how entrepreneurs employ adaptive strategies like fintech solutions and frugal innovation to navigate constraints, though these remain insufficient without structural reforms. The study concludes by recommending policy harmonization through centralized coordination, targeted infrastructure investment, hybrid financing models, ecosystem-aligned education reform, and decentralized support networks - providing stakeholders with a comprehensive framework for transforming Nigeria's entrepreneurial landscape into a catalyst for inclusive economic development.