In Nigeria, entrepreneurship has long been a coveted option, but as economic challenges mount, it's becoming increasingly essential. A recent report by PiggyVest sheds light on the entrepreneurial landscape in Nigeria, revealing a generational breakdown of business ownership.

According to the report, 3 out of 10 Nigerians are entrepreneurs, driven by internet access, high unemployment, and a growing youth demographic. However, when it comes to business ownership across generations, Gen Z lags behind, with only 16% reporting business ownership. In contrast, Gen X leads the pack, with approximately 40% of respondents indicating business ownership.

The report also highlights that women are more likely to be entrepreneurs, with 27% of women and 23% of men likely to own a business. Furthermore, 8 out of 10 business owners operate microbusinesses, with less than nine employees. This trend is significant for the tech and startup community, as it underscores the importance of supporting and empowering entrepreneurs in Nigeria, particularly among the younger generation.