Economic Development, Bio-Entrepreneurship and Macro Economic Policy Challenges in Nigeria

Abstract

The study aims at ascertaining the economic development, bio-entrepreneurship and macro-economic policy challenges in Nigeria. Bio-entrepreneurship plays a vital role in economic development, but it faces significant macroeconomic policy challenges. These challenges include navigating complex regulations, securing funding, and fostering innovation amidst economic instability. Supportive government policies, including regulatory frameworks and financial incentives are crucial for encouraging bio-entrepreneurship and maximizing its contribution to economic growth and sustainable development. We are living in a time when the population of the earth is increasing and the available resources are decreasing.  This paper sees entrepreneurship as the process of creating something new with value by devoting the necessary time and effort, with the accompanying financial and social risks, and receiving in return monetary rewards, personal satisfaction and independence. In this era of shrinking economic activities, government should endeavour to provide the necessary infrastructures required for skills acquisition among its citizenry.