was strongly advocated, a bit like the search for a
“third way” of development between capitalism and
state socialism by newly independent countries
during the 1950s and 1960s, though on a different
scale.
The value of a social entrepreneur is to assist a
population that is underserved, neglected, or
severely disadvantaged and lacks the financial or
political weight to deliver the transformative effect
on their own. They identify a stable but
fundamentally unjust equilibrium that causes a
segment of society to be excluded, ostracized, or
suffer. They perceive an opportunity in the
inequitable balance of society, create a social value
proposition, and use inspiration, ingenuity, daring,
direct action, and courage to contest the state's
hegemony. Furthermore, they create a new, stable
equilibrium that unleashes stored potentials or
alleviates the suffering of the target group they have
identified, and secure a better future for them and
the society at large. (.i.e. Grameen Bank). Social
entrepreneurship is a business model used by
national government, individuals, and organizations
to help solve some of the world’s greatest problems.
It is using business as a force for good and the way
the business can influence positive change.
They are mainly the founders of micro, small, and
medium businesses, which account for more than
25% of jobs in the country [49]. The poll also
indicated that Nigeria has 17 million small and
medium-sized businesses, which employ 32.41
million people and contribute 46.54 percent of the
country's GDP. According to the World Bank [53],
formal SMEs account for 45 percent of total
employment and up to 33 percent of GDP in
emerging economies (GDP). The goal of social
entrepreneurship is to create a positive social impact
through addressing societal problems [49; 54]. They
are individuals who adopt a mission to create and
sustain social values; relentlessly pursue new
opportunities to serve that mission; continuously
innovate, adapt, and learn new ideas and skills; act
boldly and beyond their resources; and demonstrate
a high sense of accountability for their contributions
to society [49; 55; 56]. They have been described as
not for profit initiatives but in search of alternative
funding strategies. This is not to say that social
entrepreneurs always avoid profit-generating value
propositions. Social entrepreneurship ventures can
generate revenue and can be formed as non-profit or
for-profit organizations [57]. A good examples of
social entrepreneurs include North Star Alliance in
South Africa, ASAFE in Cameroun, Sanjit Roy, the
founder of BAREFOOT College, a solar-powered
college for the poor in India; Mark Koska, who
redesigned medical tools by introducing a non-
reusable, low-cost syringe to be used in under-
funded clinics; Jeff Kurtzman, co-founder of
Incubation, which provides low-cost, low-
maintenance incubators; and Scott Harrison, founder
of Charity Water, a non-profit organization that
provides safe and portable water in 28 countries
around the world [58; 59].
Social entrepreneurs are involved in giving practical
reality to many noble ideals-helping the poor,
homeless, physically, psychologically or mentally
challenged people, and not limited by constraints of
resources currently available in their drive to proffer
solutions to social challenges. Nigeria, for example,
has a wide range of social and environmental issues.
These include high rate of poverty, weak
governance and accountability issues, a poor
healthcare system, poor waste management
practices, lack of electricity, a large housing deficit
etcetera, all of which have implications for health,
employment, and financial inclusion [60]. All of
these problems present huge opportunities for social
entrepreneurs who can assist to help the economy
recover. They stand between the private and public
sectors, applying new tools and approaches to the
work governments have traditionally done without
results and bring forth innovative solutions to solve
them. Most of them are change agents who think
outside the box to produce changes in the short term
that reverberate through existing social systems and
engender large changes in the long term.
They can also work with government rather than
against it by improving the government's
willingness or ability to invest in a specific
government function "by rethinking the way its
value is expressed." For instance, when social
entrepreneurs collaborate with government, they can
provide additional public good, such as data on an
integrated public-private transit system or
information on improved healthcare service
delivery, better ways in which the resources of the
nation can be utilized to better the well-being of the
people, among other things. For instance, in 2016,
the Buhari government launched its #500 billion
Social Investment Programme (SIP) that involves
direct cash transfers of #5,000 monthly to one
million beneficiaries in poor vulnerable households;
school feeding of 5.5 million primary school
children; training of 500,000 graduates as teachers
and 100,000 non-graduates as artisans and other
special intervention projects. However, concerns
have been raised on how these projects will be
carried out without an authentic database of
potential beneficiaries. With a vibrant social
enterprise sector involvement and collaboration,
WSEAS TRANSACTIONS on ENVIRONMENT and DEVELOPMENT
DOI: 10.37394/232015.2022.18.67
Matthew Etinosa Egharevba,
Stephen Ikechukwu Ukenna,
Olawale Yinusa Olonade,
Ifeanyi Prinuel Onyeonoru,
Ugbenu Oke, Kasa Adamu Gayus