ABSTRACT
This chapter examines Nigerian Pentecostal engagement with the economic sphere. It begins by discussing the role of business enterprise and SMEs in development and their inclusion in the post-2015 sustainable development agenda. Second, it sets the context by tracing the contours of Nigeria’s economy since independence, with a particular focus on the government’s economic policies during the Fourth Republic. Third, it engages with current debates on Pentecostalism and economic development in Africa, with a particular focus on the prosperity gospel. Pentecostal beliefs impinge upon the economic domain, alternatively motivating or discouraging the pursuit of wealth and its employment for the benefit of others. The chapter identifies two emerging trends with regard to Nigerian Pentecostal approaches to prosperity: first, a shift from reliance on “miracles” to an emphasis on work and entrepreneurship; and second, a new understanding that the purpose of wealth is for it to be used for the common good rather than for personal enrichment. The chapter examines a range of Nigerian Pentecostal initiatives geared towards economic empowerment and capacity-building, including programmes directed at women entrepreneurs and Nigerians in the diaspora. It also investigates Pentecostal efforts directed at reforming cultural values and changing institutional structures and economic policies considered an obstacle to positive development outcomes.
