Abstract:

In every society, the idea could be regarded as a component of development in as much as its source could be associated with human thinking for solutions to combat problems confronting human existence. From time immemorial, it is evident in the literature that every invention and innovation that has resulted in the transformation of human lives and society is traceable to a conceived and explored idea. The exploration and documentation of such an idea have engendered positive creativities in all spheres of life for the betterment of the human race. In other words, an undocumented idea, no matter how brilliant, can be decimated and eventually become useless. In the same manner, the ancient guild system conceived by Karl Marx in the medieval period could be regarded as one of such notable ideas in human history. Guild system is the union of craftsmen for communal assistance and fortification in furtherance of professional benefits. Also, it could be regarded as the process of training “a new generation trader” between the 11^th and 16^th centuries in Europe. The system was said to have formed a vital aspect of the economic and social fabric of the era before it was later discarded or consumed by the propensity of capitalism. Either by acculturation or academic linkages or most especially the poor economic development of Nigeria that has resulted in the high rate of unemployment and abject poverty, the practice of indigenous Igbo business mentoring has brought to bear the relevance of the ancient guild system in recent times, as a cogent solution to job creation to reduce the plague of unemployment and abject poverty confront the youth population in the Southeast Geopolitical Zone of Nigeria. The present study intends to explore secondary data and content analysis as a methodology to examine the connection between the guild system and indigenous Igbo business mentoring and illustrates its usefulness in raising entrepreneurs. In addition to the above, it tries to discuss the possibility of developing the practice to engender, human and economic development in Nigeria.