The rate of social vices, unemployment, poverty, and societal underdevelopment is very high in Nigeria. From unknown gunmen to banditry, to Boko haram, and to kidnappings. People hardly ever sleep with their eyes closed at night. These social vices were attributed majorly to unemployment and poverty, which were ravaging the country. This paper, therefore, discusses how entrepreneurship will be used to stimulate economic development in an economy, thereby reducing crime, poverty, and unemployment in the country. Various definitions of entrepreneurship were given. Types of entrepreneurship were highlighted. The objectives of entrepreneurship were uniquely and expressly stated. Also, the meaning of "nation-building" was explained, and the role of entrepreneurship in nation-building was generously elucidated.