THE ENTREPRENEURIAL SPIRIT OF THE IGBO: A CULTURAL LEGACY FROM PRE-COLONIAL TIMES TO THE CONTEMPORARY ERA

Abstract

Culture is a people’s way of life. It encompasses their worldviews, beliefs, and customs, which greatly influence and determine their decisions and actions. The culture of a people, therefore, affects how they view and live life. On the other hand, entrepreneurship is the process of extracting profits from new, unique, and valuable combinations of resources in an uncertain and ambiguous environment. The worldview and beliefs of the Igbo people incline them to always strive for expansion, regardless of how small their start-up may be. It can thus be asserted that the culture and worldview of the Igbo are entrepreneurial in nature. This study aims to highlight how this entrepreneurial culture has remained a consistent attribute of the Igbo people from generation to generation, spanning from the pre-colonial era to contemporary times. The objective is to analyze how this enduring identity has enabled the Igbo to survive and thrive amidst the various struggles and challenges they have faced throughout different epochs of their history. The study will also showcase the entrepreneurial achievements of a few notable Igbo entrepreneurs and examine the challenges they face within the context of Nigeria’s political economy, as well as the efforts they are making to overcome them. Finally, the study will conclude with a few recommendations on how the entrepreneurial culture of the Igbo can be properly harnessed for the advancement and prosperity of the Nigerian economy.