Hybrid Entrepreneurship: A Conceptual Analysis of the Need For Residual Income Among Nigerian Civil Servants
Obeki O S
Department of Entrepreneurship, University of Benin, Benin City, NigeriaNwagu N B
Department of Entrepreneurship, University of Benin, Benin City, NigeriaKeywords: Hybrid entrepreneurship, Civil servant, Resource-based view theory, Residual income, Salary
Abstract
Amidst Nigeria's economic challenges, including rising inflation, Naira devaluation, and declining purchasing power among civil servants, this study explores the need for residual income through hybrid entrepreneurship. Relying on the framework of the Resource-Based View Theory, the research reveals that civil servants can leverage their existing skills or acquire relevant ones while still in service to establish income-generating entrepreneurial ventures and contribute further to the growth and development of the national economy. This paper argues that civil servants need residual income to supplement their salaries, achieve financial stability, and improve their overall well-being, and therefore recommends the creation and adoption of a hybrid entrepreneurship scheme for Nigerian civil servants to create residual income and build resilience against the country's economic challenges.
