There is much rhetoric among Nigeria’s policy makers and economic managers about employment creation and poverty reduction as key development objectives but their understanding of entrepreneurship which is critical for the actualization of these objectives is flawed. Drawing from the available literature, it is contended that ‘technological entrepreneurship’ is what drives the economy and makes the difference between affluent and impoverished societies and that each country has its own unique entrepreneurial ecosystem which determines the rate, growth and survival of new ventures. Many dimensions of the entrepreneurial ecosystem have now been postulated for some countries and based on the exploration of the Nigerian economy, a conceptual framework consisting of ten dimensions have been identified to encapsulate the Nigerian entrepreneurial ecosystem - National Culture, Education and Human Capital Development, Local Machinery and Equipment Production, Science and Technology Policy, Enterprise Support Networks, Financial Institutions, Scientific and Technological Literacy, Physical Infrastructure, Economic Development Policies and Legal System and Property Rights. The entrepreneurship triangle consisting of technical, management and entrepreneurship skills is also embodied in the construct. Most of the dimensions are observed to be impacting negatively on entrepreneurship and thus stifling the birthing of new ventures. In particular, national culture emerged to be highly anti-industry and the most limiting factor that has also shaped the other dimensions. The attributes of a good Science and Technology Policy and the Enterprise Support Network Model are presented for use in promoting the creative destruction, reinvention and realignment of the dimensions that are impacting negatively on entrepreneurship; a prerequisite for embedding the enterprise culture and increasing the rate and pace of new venture creation in Nigeria.  

KEYWORDS:Entrepreneurial Ecosystem, The Entrepreneurship Triangle, The Enterprise Support Network Model, Technological Entrepreneurship, National Culture