YORUBA SOCIAL CULTURAL VALUES AND ENTREPRENEURSHIP EMERGENCE IN IBADAN, OYO STATE, NIGERIA

M. O. OJELADE; J. A. ISHOLA; J. K. AJAYI; R. B. AMUSAT

M. O. OJELADE Department of Business Administration, Kola Daisi University Ibadan, Oyo state, Nigeria
J. A. ISHOLA Department of Business Administration, Thomas Adewumi University, Oko, Kwara state, Nigeria
J. K. AJAYI Department of Public Administration, The Oke-Ogun Polytechnic, Saki, Oyo state, Nigeria
R. B. AMUSAT Department of Business Administration, The Oke-Ogun Polytechnic, Saki, Oyo state, Nigeria

Keywords: Yoruba socio-cultural values, Entrepreneurship emergence, Communal spirit, Hard work.

Abstract

Social cultural value is seen as an aspect of human existence that comprises of beliefs, practices, and customs as the intangible patrimony of people, transmitted through generations by the process known as primary socialization This study examines the effect of this concept on entrepreneurship emergence of the Yoruba people in the south-western part of Nigeria. The study was carried out in Ibadan, Oyo state, Nigeria because it is the epic centre and economic hub of the Yorubas. The identified socio-cultural values are hardwork, communal spirit and formal education. Structured questionnaire was used as an instrument of data collection. Pearson correlation coefficient was used to analyse the data collected. Findings show that the coefficient of determination (R²), stands at 0.712, which indicates that hardwork, communal spirit, trading and formal education account for 71.2% of the variation in the overall entrepreneurship emergence of the Yoruba people. This indicates that the socio-cultural values of the Yoruba people have a significant effect on entrepreneurship emergence of this tribe. It is recommended that the cultural values of the Yoruba people be strengthened the more and be given the needed attention so as to aggregate the benefits for the good of the country’s productive capacity.