ECONOMIC DETERMINANT OF SELF EMPLOYMENT IN A DEVELOPING NATION: THE NIGERIA EXPERIENCE

This study investigated the economic determinant of that affect the number of self employed in a developing country, a case study of Nigeria. The findings provide answers to various research questions like, What are the economic factors that affect self-owned business (private business) in Nigeria?, What are the effects of these economic variables on self-owned business (private business) in Nigeria?, How can these variables be controlled to improve self-owned business performance in Nigeria?. To investigate through this survey, data were collected from secondary source, world bank statistics on indicators such as unemployment, credit availability, inflation rate, interest rate and exchange rate. These were considered has the variables with the most effect, which was later proved in the study. Ordinary Least Square (OLS) formed the basis for the estimation. The study found that exchange rate and interest rate have negative relationship with Number of self owned enterprises. While inflation rate, credit availability and unemployment has a positive effects on number of self owned enterprises. The effects of these indicators are propulsive, if they are well monitored and stabilized in the right way with good economy policies