Sustainable human capital strategies for nurturing entrepreneurial ecosystems in Nigeria
Akinola, Emmanuel Taiwo
Division of Statistics and Records, Adeyemi Federal University of Education, Ondo, Ondo State, Nigeria.
https://orcid.org/0000-0002-1137-8645
Akintunde-Adeyi, Fumilayo Julianah
Bowen University, Iwo, Osun State, Nigeria.
https://orcid.org/0009-0002-5175-8404
AKINOLA Enoch Oluwakayode
Department of Fine and Applied Arts, Adeyemi Federal University of Education, Ondo, Ondo State, Nigeria.
https://orcid.org/0009-0003-6089-2354
DOI: https://doi.org/10.20448/economy.v13i1.8280
Keywords: Entrepreneurial ecosystems, Green HR practices, Public-private partnerships, Sustainable human capital strategies, Workforce development.
Abstract
This study investigates the role of sustainable human capital strategies in nurturing entrepreneurial ecosystems, with a focus on companies in Southwest, Nigeria. Drawing on the Resource-Based View (RBV) and Dynamic Capabilities Theory, the research highlights how human capital, as a strategic resource, drives competitive advantage and innovation. Employing a mixed-methods approach, the study combines quantitative surveys and qualitative interviews to provide a comprehensive understanding of workforce development, skill acquisition, and sustainability practices in fostering entrepreneurship. The findings reveal that sustainable human capital strategies such as, continuous learning, inclusive talent pipelines, and green HR practices significantly enhance entrepreneurial performance by improving innovation, operational efficiency, and market adaptability. Challenges such as inadequate funding, regulatory misalignment, and limited access to advanced training programmes were identified, but opportunities exist through leveraging technology, fostering public-private partnerships, and aligning educational curricula with industry needs. Data from 300 respondents across various sectors in Southwest, Nigeria, including HR managers, entrepreneurs, and policymakers, was analyzed using regression and thematic analysis. The results underscore the importance of strategic investments in workforce training and sustainability to build resilient entrepreneurial ecosystems. Recommendations include adopting green HR practices, developing collaborative frameworks between the public and private sectors, and integrating sustainability into policy and educational systems. This study contributes to literature by providing empirical insights and actionable strategies for aligning human capital development with sustainable entrepreneurial growth, offering valuable implications for emerging economies globally.