Abstract
This study undertook an appraisal of entrepreneurial education in higher institutions and the correlation to youths’ economic empowerment national economic development. It was prompted by the problem of growing rate of unemployment amongst the country’s youth population especially the young graduates. The objectives sought were to examine the current rate of youths’ unemployment and the implications on entrepreneurship adoption and Nigeria economic development; determine the key drivers of Asian Tigers economic growth from the 1960 to 2000 and the role of education; and ascertain the extent entrepreneurial education in higher institutions could boost Nigeria’s economic development. The study adopted a combination of survey and desk research. Data analysis was qualitatively and quantitatively done. The quantitative was through Spearman’s correlation coefficient. Results obtained reveal that the high rate of youths’ unemployment and low rate of entrepreneurship adoption by the youths have significant negative effect on the nation’s economic development. The key drivers of economic growth of the Four Asian Tigers between 1960 and 2000 were sound government policies on entrepreneurial, technical & vocational education. That entrepreneurial education in higher institutions can significantly boost Nigeria’s economic development. It was then recommended among other things that: The Nigerian youths must as matter of urgency take entrepreneurship much more serious, as a veritable complement to their educational attainment and as a surety for future greatness in the corporate world, and consequent boosting of the nation’s economy.
Highlights
Entrepreneurship is the demonstration of skills, knowledge, ability and attitude in the management of a business enterprise
Discussion of Findings Favourable government policies devoid of policy inconsistencies were among the major drivers of the Asian Tigers economy
There were aggressive efforts into international trade founded on a policy of reduction in tariffs for both import and export goods, and the decrease in the restrictions to trade and in the barriers for international inflows of capital
Summary
Entrepreneurship is the demonstration of skills, knowledge, ability and attitude in the management of a business enterprise It involves risks, decision-making, organizational and managerial competence on the part of the entrepreneur in order to effectively manage a business venture in our global competitive market place. Decision-making, organizational and managerial competence on the part of the entrepreneur in order to effectively manage a business venture in our global competitive market place It is the aggregation of the myriads of diverse entrepreneurial productivities, marketing of same and the pool of consequent accrued resources that account largely for national development. There, lies the success story of the Asian tigers that swept and nearly dominated the global economy from the 1970s to 2000 All these entail that if you want to run a business successfully, you must be armed with knowledge of what entrepreneurship is all about and the basic managerial, accounting, statutory cum legal and physical requirements for achieving the goal. It was the foregoing that informed the introduction and emphasis on entrepreneurship curriculum in Nigerian universities by the National Universities’ Commission (NUC)
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