The Role of Educational Institution in Fostering Entrepreneurship Development in Nigeria

Abstract

The study examines the role educational institution plays in fostering entrepreneurship development in Nigeria. The study employed survey research design using primary source of data through the administration of structured questionnaire on twelve (12) selected Federal Universities from the total population of forty-three (43) Federal Universities as approved by the National Universities Commission (NUC, 2019). This was determining through the use of multi-stage sampling technique. The multi-stage sampling techniques are simple ransom and quota sampling techniques. The techniques were used to draw the sample size of five-hundred and four (504) respondents from sampled Universities. The total number of questionnaires that was returned is four-hundred and ninety-nine (499). Regression statistics and Analysis of Variance revealed the coefficient and P-value of vocational centre (0.154069951; P=0.000495<0.05); entrepreneurship exhibition (0.368947844; P=9.03E-18>0.05); professional entrepreneurs (0.162502515; P=4.9E-05>0.05) and seed capital (0.289112176; P=3.24E-11>0.05) respectively. This was an indication that there was a positive significant exists between the explanatory variables with entrepreneurship development in Nigeria at 5% level of significant. The implication is that the federal government should not only empower the youths but to invest in youth entrepreneurship because the youths are the future of the country. Based on these findings, the study therefore recommends that educational stakeholders should be monitoring the entrepreneurship activities in Nigerian Universities. They should also dwell more on practical training for students irrespective of their vocational area of study; and introduce some benefits to well deserving creative students in order to enhance the entrepreneurial culture among the students.