While considerable attention has been devoted to exploring the potential of higher education in driving economic development, comparatively less focus has been directed towards its role in nurturing social imperatives associated with education. In the same vein, the economic benefits of a university degree in Kenya have been emphasised, while the social relevance of serving society has not received enough attention. In order to strengthen the social and economic paradigms of higher education in Kenya, the article examine the unique contribution of Nyerere's philosophy of education for self-reliance in the realm of African educational philosophies. The purpose of this study was to analyse what educational implications Kenyan universities can adopt from Nyerere's education for self-reliance philosophy using a literature-based research approach. The methodology of the study used was a multifaceted technique that comprised a literature review, conceptual analysis, a comprehensive content analysis and triangulation for evaluating relevant books, research studies, scholarly works and official papers about the socio-economic role of university education and Nyerere's philosophy of education. The study's findings indicated that the Nyerere educational philosophy, which is characterized by its invaluable lessons on the roles of the teacher, curriculum development, and the purpose of university education, may have beneficial implications on Kenyan university education. The socio-economic dimensions of university education emphasize enhancing society through problem-solving, community engagement, and career-oriented learning. The study also underscored the vital need for training for jobs in both white-collar and blue-collar fields by universities, the incorporation of problem-solving skills relevant to the 21st century, on-going professional development, and benchmarking. These recommendations could be the cornerstone of socio-economic education reforms at Kenyan universities, which could prepare its youth for the dynamic opportunities of the twenty-first century, positioning Kenya as a forerunner in the global advancement of socio-economic dimension of university education.