ENTREPRENEURIAL EDUCATION AS A TOOL FOR REDUCING UNEMPLOYMENT IN NIGERIA (A CASE STUDY OF ALIMOSHO L.G.A, LAGOS STATE)

CHAPTER ONE

INTRODUCTION

BACKGROUND OF THE STUDY

Entrepreneurship enhances growth because it serves as a meansfor change, and a conduit for knowledge spill over.In this era, the major advantages of modern economies are moving towards knowledge based economic activity, not only do entrepreneurship play a more vital role, but also a recommendation for economic growth.

Education remains a vital transformational tool and undisputable instrument for socio-economic empowerment, wealth creation, and employment generation, poverty alleviation and value orientation which government has talked about for so long now.

Education, skill acquisition training and experience can increase the supply of entrepreneurs by making available more skills which are suitable for entrepreneurial endeavor. Entrepreneurship education involves the ability and willingness of persons to consistently pursue the opportunity to create wealth.

This is done through innovative creation of products or services that will meet customers’ needs, using scarce resources consciously in a way that results in the growth of enterprise which satisfies the expectation of stakeholders.

Education in Nigeria should emphasize entrepreneurship consciousness for it to be relevant in achieving the right type of value and attitudes for the survival of the individual and the Nigeria society.

Having been properly equipped with necessary entrepreneurial skills through persistent and improved education, one is ready to contribute positively in reducing unemployment by being self-employed. Entrepreneurship education stands out to be the only solution to unemployment.

Entrepreneurship education enables the acquisition of necessary and important skills for profitable and gainful elf-employment. It’s an important training given to students to acquire needed skills, ideas and managerial abilities and capabilities for self-employment stands as a remedy to unemployment problem in Nigeria (Ezema, 2015).

The aim of entrepreneurial education was for knowledge acquisition by students to enable them setting up and floating a business with other skills needed for its survival and also to become successful entrepreneurs. Maina (2013) sees entrepreneurial education as part of the total educational system that involves the acquisition of skills, ideas and management abilities necessary for job creation.

STATEMENT OF PROBLEM

The rate of unemployment among Nigerian graduates is a threat to the nation’s economy as tertiary institutions produces graduates yearly without commensurate job opportunities. Ekpo (2010) succinctly stated that a study carried out by the Federal Ministry of Education from 2015- 2010 showed that seventy one percent (71%) of graduate students from Nigerian Universities and other forms of tertiary institutions are yet to get job.

In similar development, Nwachukwu (2012) reported that Economic Survey in 2011 doted unemployment rate in Nigeria at 23.9%. In other words, over 38 million Nigerians are unemployed.

It is disturbing to acknowledge that a greater number of this percentage are graduates from Nigeria universities, colleges of education and polytechnics who roam the street and in the job markets looking for non existing jobs for lack of entrepreneurial skills.

Lack of entrepreneurial skills is no doubt a major contributing factor to the problem of unemployment of graduates in Nigeria (Adebisi& Oni, 2012). The issue of graduate unemployment is attributed to lack of proper educational system to enlighten the students on the need for skill acquisition,  emphasis on should be placed on  vocational skills which prepares school leavers and graduates with vocational skills for better employment opportunities.

Again, in spite of federal government efforts to create 2 million jobs every year, most Nigerian university graduates fail to get employed (Babalola, 2007). This is evident as many graduates stay 3-4 or more years after graduation before getting a job or no job at all.

Based on these pathetic situations, it interests the researcher to investigate  entrepreneurial education as a tool for reducing unemployment in Nigeria.

AIMS AND OBJECTIVES OF THE STUDY

The major aim of the study is to examine entrepreneurial education as a tool for reducing unemployment in Nigeria.Other specific objectives of the study include;

1. 1. To examine the need for effective entrepreneurial education to Nigerian students.

1. 1. To assess the level of entrepreneurial education in academic institutions in Nigeria.

1. 1. To examine the importance of entrepreneurship to the economy of Nigeria.

1. 1. To examine the impact of entrepreneurial education on unemployment in Nigeria.

1. 1. To examine the relationship between entrepreneurial education and unemployment in Nigeria.

1. 1. To recommend ways of reducing unemployment in Nigeria.

RESEARCH QUESTIONS

1. What is the need for effective entrepreneurial education to Nigeria?

1. 1. What are the challenges of entrepreneurial education in Nigeria?

1. 1. What is the impact of entrepreneurial education on unemployment in Nigeria?

1. 1. What is the importance of entrepreneurship education toward poverty reduction in Nigeria?

1. 1. What is the relationship between entrepreneurial education and unemployment in Nigeria?

1. 1. In what ways does entrepreneurial education enhance acquisition of necessary skill for gainful self employment in Nigeria?

RESEARCH HYPOTHESES

Hypothesis 1

H0: Entrepreneurial education does not have significant impact on unemployment in Nigeria

H1: Entrepreneurial education has a significant impact on unemployment in Nigeria

Hypothesis 2

1. 1. : There is no significantrelationship between entrepreneurial education and unemployment in Nigeria

1. 1. : There is a significant relationship between entrepreneurial education and unemployment in Nigeria

SIGNIFICANCE OF THE STUDY

The study would be of immense benefit towards the development of entrepreneurial education in Nigeria by properly assessing the importance of entrepreneurial education to the country at large. This study would also be of immense benefit to students, researchers and scholars who are interested in developing further studies on the subject matter.

SCOPE AND LIMITATION OF THE STUDY

The study is restricted to entrepreneurial education as a tool for reducing unemployment in Nigeria.

LIMITATION OF THE STUDY

Financial constraint: Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview)

Time constraint: The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted for the research work.

DEFINITION OF TERMS

Entrepreneur: Is an entity which has the ability to find and act upon opportunities to translate inventions or technology into new products. The entrepreneur is able to recognize the commercial potential of the invention and organize the capital, talent, and other resources that turn an invention into a commercially viable innovation.

Entrepreneurship education:  Is the type of education that seeks to provide students with the knowledge, skills and motivation to encourage entrepreneurial success in a variety of settings. Variations of entrepreneurship education are offered at all levels of schooling from primary or secondary schools through graduate university programs.

Unemployment or joblessness: Is a situation in which the able bodied people who are looking for a job cannot find a job.