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YOUTH
PREPARATION FOR ENTREPRENEURSHIP IN HIGHER EDUCATION IN NIGERIA
CHAPTER ONE
INTRODUCTION
Background
to the Study
Higher
education, as defined by National Policy on Education (1998) is the education
given after secondary education in Universities, Colleges of education,
Polytechnics, Monotechnics, including those institutions offering
correspondence courses. The goals of tertiary education in Nigeria as spelt out
by the policy are: to contribute to national development through high level
relevant manpower training; to develop and inculcate proper values for the
survival of the individual and society; to develop the intellectual capability
of individuals to understand and appreciate their local and external environment;
to acquire both physical and intellectual skills which will enable individuals
to be self-reliant and useful members of the society; to promote and encourage
scholarship and community service; to forge and cement national unity; and to
promote national and international understanding and interaction.
On the other
hand, Schumpeter (1994) defines entrepreneurship as the ability to perceive and
undertake business opportunities, taking advantage of scarce resource
utilization. In simplest form, entrepreneurship is the willingness and the
ability to seek out investment opportunities and to run an enterprise for
profit. In this later sense, entrepreneurship takes premium over capital. It is
equally more fundamental than capital because capital formation is the result
of entrepreneurial activity. Entrepreneurs are therefore regarded as central
figures in economic development. Their contributions run through labour
actions, movement of capital goods and conversion of raw materials into
finished products, and ultimately, effectual distribution of the products to final
consumers.
Entrepreneurs
are therefore those who search and discover economic opportunities, marshal the
financial and other resources necessary for the development of the
opportunities, evaluate alternatives available in the environment and allocate
resources to the most profitable ones as well as take the ultimate
responsibility for the management and/or successful execution of opportunities.
An Entrepreneur is somewhat comfortable with taking and assuming risks which
are impassioned with the dream being pursued. He or she knows where to get
help, and when it is needed as well as being ever ready to receive changes in
the business surrounding environment (Schumpeter, 1994).
Consequently,
institutions of higher learning in Nigeria are expected to commence training
high level manpower whose characteristics are usually obsessive, focused,
articulate, and resourceful. In this way graduates will turn out typically
charismatic leaders, and tend to be introspective in the skills of job
creation, wealth generation and innovative skill utilization.
Besides,
empowering Nigerian youths towards wealth creation, employment generation,
poverty reduction and value re-orientation (NEEDS, 2005) is a foremost cardinal
point for strategic macro-economic framework. This also reflects in the recent
increase in the demand for educational programmes in entrepreneurship in the
country’s tertiary institutions, parastatals and non-governmental paradigms. If
fully satisfied, this new vision and values would shine the spotlight on small
medium scale business activities in Nigeria. Thus, increased higher education
on entrepreneurial skills would create that perfect opportunity to stimulate
economic growth. Higher institutions of learning are therefore to properly
train individual youths who will have the right tools necessary to commence and
grow successful businesses with reduced risk of failure. It is in this vain of
activities that higher education contributes to human resource development in
many ways. Investment in higher education therefore remains a key contributor
to the nation’s economic growth.
Higher
institutions in Nigeria have been saddled with the main responsibility of
training both youths and the nation’s professional personnel such as managers,
scientists, engineers and technicians who participate in the development,
adaptation and diffusion of innovations in the country. The development of
higher education in the country is correlated with economic development.
However, matching the quality of the products of institutions of higher
learning in the country at present with the country’s higher educational
laudable goals simply reveals that the Nigerian nation has not yet found her
path on what was planned for it through higher education in terms of preparing
the youths for entrepreneurship. It is against this background that this study
examines the extent to which higher education in Nigeria has really succeeded
in preparing youths for entrepreneurship and the world of work.
Statement of
Problem
It is
worthwhile to re-emphasize here that entrepreneurs and the small businesses
they create are economic stimulators. Our country’s economic growth hinges on
our ability to create new jobs through entrepreneurship, and successful
entrepreneurship, in turn, requires well-trained graduates from our
institutions of higher learning who are aspiring entrepreneurs willing to take
the helm of venture creation. But the underpinning issue at this point still
remains ascertaining whether the quality of education offered at present by
tertiary institutions in the country is the one assuring the genuine
preparation of young graduates for entrepreneurship and not for job seeking.
The above issue of concern is predicated on the apparent hues and cry of many
scholars (Tawari, 2002; and Okoroma, 2006) about the poor quality and falling
standard of tertiary education in Nigeria, which is seriously incapacitating
the system from producing the right type of graduates that suits the desired
human capital needed for job creation and genuine economic growth and
development in the country.
This study
therefore attempts to examine the extent to which higher education in Nigeria
has prepared the youths for entrepreneurship.
Purpose of
Study
The aim of
this study includes the following:
(i) To examine
the extent to which university education influences the development of
students’ intellectual skill for entrepreneurship;
(ii) To
ascertain whether university education influences the development of students’
affective skill for entrepreneurship; and
(iii) To
determine the extent to which university education influences the development
of students’ psychomotor skill for entrepreneurship.
Research
Questions
In order to
successfully achieve the above objectives, the questions below were raised to
guide the study.
(i) Has
university education been influential to the development of students’
intellectual skill for entrepreneurship?
(ii) How
relevant is university education to the development of students’ affective
skill for entrepreneurship?
(iii) To
what extent has university education been influential to the development of
students’ psychomotor skill for entrepreneurship?
Research
Hypotheses
The
hypotheses below were stated for the study.
(i)
University education has not significantly influenced the development of
students’ intellectual skill for entrepreneurship.
(ii)
University education has not significantly influenced the development of
students’ affective skill for entrepreneurship.
(iii)
University education has not significantly influenced the development of
students’ psychomotor skill for entrepreneurship.
Significance
of the Study
This study
is significant for providing relevant information on the need to improve on
higher education towards proper preparation of undergraduates for the world of
work.
It will
also be a sensitization document to undergraduates and anybody who accesses it
on the paramount importance of going for entrepreneurship skills development
education programmes to acquire relevant skills that will enable one survive in
a depressed economy.
The
results of the study are also meant to create a high level of awareness among
prospective graduates on the relevance of entrepreneurship education.
The study
is also significant for articulating the need for education planners and
Nigerian tertiary institutions’ authorities (private and public) to direct
effort at inculcating courses for entrepreneurship development skills into
tertiary institutions’ curricula and programmes.
Scope of the
Study
This study
focused on examining higher education in Nigeria as correlates of youth
preparation for entrepreneurship. It was limited to determining the extent to
which Nigerian higher education programmes have influenced the development of
the intellectual, affective and psychomotor skills of youths for
entrepreneurship. The study was limited to institutions of higher learning in
Lagos State. Besides, only two hundred students sampled from these institutions
were involved in the study.
Definition
of Terms
The terms
below were operationally defined relative to their usage in the study.
Entrepreneur:
This is a motivated person who seeks profits by undertaking such risky
activities as starting new businesses, creating new products, or inventing new
ways of accomplishing tasks.
Entrepreneurship:
This is the creative ability or skills of individuals to seek profits by taking
risks and combining resources to produce innovative products.
University
Education: This is the education given after secondary education in
universities, including those institutions in the universities offering
graduate and post graduate correspondence courses.
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