CHAPTER FIFTY: MUSIC ENTREPRENEURSHIP IN TWENTY-FIRST CENTURY NIGERIA: PERTINENT ISSUES

Abstract

Pertinent issues affecting music entrepreneurship in Nigeria were highlighted in this paper. Several music business opportunities in Nigeria, their nature and peculiarities, the inherent risks in the businesses, and risk management strategies were explored. Problems affecting music business entrepreneurship such as Nigeria's economic downturn, financial instability, pervading insecurity, COVID-19 adversity, etc. were also analyzed. Globally emerging and music business entrepreneurship types such as music streaming and music networking were also discovered and recommended for prospective music business entrepreneurs in Nigeria. Findings show that in the face of the current financial and security challenges in the country, there are still several music business entrepreneurship vistas that prospective entrepreneurs can engage in successfully. It is recommended that prospective and practising music business entrepreneurs in the country be knowledgeable in the peculiarity of the Nigerian business terrain, and be properly guided in the diversity of opportunities in the field along with the concomitant risks and risk management strategies presented in the paper.

Keywords: Music business entrepreneurship, risk management, music business entrepreneurs.