The former president of Nigeria Olusegun Obasanjo said “You can’t have security when the economy of your people is not well taken care of and you can’t have security without economic prosperity"
How should we as a nation go about Entrepreneurship development and security challenges in Nigeria?? .
How should we balance entrepreneurship development and security??

I'll assume you're talking about social security and not financial security.

I feel that the Nigerian economy is not suffering as a result of social security, business activities are booming as they always have in Lagos, PH, onitsha and Kano (the nations' prime commercial cities) even with the existence of insurgency in the north east, mostly because the affected areas are enclosed and the violence doesn't seem to be spreading. I am of the opinion that the real factors which are affecting enterprenuarship in Nigeria are:

1. Energy supply, the inavailability of energy adds to the rising cost of entrepreneurship, small businesses spend more on energy than counterparts in other countries, take for instance tailors who would be faster and more effective with modern sowing machines but have to settle for the outdated versions due to energy supply.
2. Access to credit facilities, this one basically explains itself, firms need credit to grow, and this is really hampering growth in Nigeria. Banks don't lend out, some months ago the CBN governor complained about this.
3 Importation and protectionist policies, just recently PMB signed a bill which would further eliminate restrictions on our borders, this might not seem like a bigdeal to casual observers, but might have just signed a death certificate here, considering that cost of labor is significantly cheaper in other West African countries, and likewise cost of production, how are small-strugglig firms supposed to fare. Also one has to consider that possibility of FOREIGN INVESTORS, rallying to these countries, I mean if you would spend less on labor and less on energy but could easily transport your goods to Nigeria why bother actually investing in Nigeria.
There are a number of other factors but as business climate, transportation facilities and access to raw material, but I believe these are the most pressing factors in 2019.

Shalom.