This paper explores the multifaceted challenges faced by entrepreneurs in Nigeria, particularly within the Small and Medium Enterprises (SMEs) and Micro, Small, and Medium-sized Businesses (MSMBs) sectors. It highlights the impact of Artificial Intelligence (AI) on business innovation and the potential it holds for Africa's economic growth. The focus narrows down to the Ogoni Liberation Initiative, emphasizing its efforts to empower the youth in the Ogoni region amid economic and policy constraints. The paper concludes with a call for global attention to address these pressing issues. Utilizing an analytical framework grounded in the Human Capital theory and the Institutional theory, this research elucidates the multifaceted obstacles endogenous to the Nigerian context, ranging from limitations in human capital development to poor enabling environment. Specifically, inadequate access to financing, infrastructure, and resources combines with suboptimal policies and regulations to create formidable barriers. By delineating these challenges and their resultant adverse impacts on job creation and economic expansion, this study aims to highlight potential areas for reform and intervention to nurture entrepreneurship and self-employment as drivers of sustainable development in Nigeria.