IMPACT OF ENTREPRENEURSHIP EDUCATION ON UNEMPLOYMENT RATE OF GRADUATES OF FEDERAL POLYTECHNIC NASARAWA

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IMPACT OF ENTREPRENEURSHIP EDUCATION ON UNEMPLOYMENT RATE OF GRADUATES OF FEDERAL POLYTECHNIC NASARAWA

CHAPTER ONE

INTRODUCTION

1.1       Background of the study

In Nigeria today, education and training is beginning to take a new a dimension as many people are diving, driving and embracing education in its totality. This singular act of being educated has resulted to massive number of graduates from various universities, polytechnics, colleges of education etc. The perceptions of earning a living with university (tertiary institutions) certificate after graduation has endangered Nigerian system of education and have also generate an increase in the number of unemployed graduates. In fact, unemployment is an epidemic economic issue whose social implications affect almost every country of the world and her citizens either directly or indirectly. Olubukola (2013) asserted that unemployment is a global phenomenon where eligible workforce of a nation is disengaged in the service of the nation while World Bank (2009) defines unemployment as the share of the labour force that is without work but available for and seeking employment. In order to reduce the rate of unemployment among Nigerian number of graduates roaming about on the street with certificate qualification without having a meaningful source of livelihood, the concept of entrepreneurial education (training) was introduce into tertiary education in Nigeria.

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.

Gibson (2016), entrepreneurial education is defined as the process of using private initiative to transform a business concept into a new venture or to grow and diversify an existing venture or enterprise with high great potential. Entrepreneurial education is a lifelong process, starting as early as the elementary school and progressing through all levels of education, including adult education. It is seen as a tool which equips an individual to be an entrepreneur (Antoncic & Hisrich, 2013). As Emaikwu (2017) succinctly put it that entrepreneurial education focuses on developing understanding and capacity for pursuit of entrepreneurial skills and attributes. It enhances all-round development of body; mind and spirit. Entrepreneurial education involves opportunity recognition, commitment of resources and creation of a business of value to deliver goods and services.

Moreland (2016) stressed that the inculcation of entrepreneurial education which leads to the acquisition of skills in the students of tertiary institutions will lead to the creation of awareness and understanding of the socio-economic and environmental situation for sustainable national development. It will also enhance job creation to reduce unemployment among graduates upon graduation. It will ensure stable national growth in the provision of employment options for Nigerian graduates. Entrepreneurial education could lead to capacity building of the beneficiaries mentally, physically and intellectually thereby placing them on the advantage of acquiring, interpreting, extrapolating information and consequently applying such capacities in building self in particular and the nation in general.

Osalor (2013) opined that entrepreneurial education will lead to opportunities for individuals and collective development of latent potentialities for self-fulfillment and actualization of set goals as entrepreneurs. According to Sullivan (as cited in Agu, Anidiobu & Ezinwa, 2016) defines an entrepreneur as a person who has possession of a new enterprise, venture or idea and is accountable for the inherent risks and the outcome of a product. A broader definition by Agu, Anidiobu and Ezinwa (2016) states that the entrepreneur shifts economic resources out of lower and into higher. An entrepreneur promotes employment rather than seeking for an employment. Therefore, there is a need to embrace this type of education and provide all the necessary resources needed to make functional. Entrepreneurial education equips future entrepreneurs with the necessary skills to meet the need to accelerate economic development through generating new ideas and converting those ideas into viable and profitable ventures (Tucker & Selcuk, 2019).

Maina (2013) observed among Nigerian graduates that apart from the book knowledge that is gained, there are no requisite skills to make them self-dependent. In this paper, entrepreneurial education is defined as a type of training (formal or informal) acquired by students (undergraduate) which will make them create jobs as entrepreneurs rather than job hunters upon graduation.

1.2       Statement of the 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 2014 – 2019 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 incidence of graduate unemployment is attributed to the educational system operated during pre and post independence era in the country which placed emphasis on liberal education rather than acquisition of 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 researchers’ to investigate the role of entrepreneurial education in the reduction of unemployment rate among Nigerian graduates.

1.3       Objectives of the Study

The aim of this study is to examine the impact of entrepreneurship education on unemployment rate of graduates of Federal Polytechnic Nasarawa (FPN). Objectively, the study tends to:

1. Identify skills that can make FPN graduates entrepreneurs to reduce unemployment rate.
2. Examine the benefits of entrepreneurship education among FPN graduates.

1.4       Research Questions

1. What are the skills required to make FPN graduates entrepreneurs to reduce unemployment rate?
2. What are the benefits of entrepreneurship education to FPN graduates?

1.5       Research Hypothesis

Hypothesis One

H_o:      Entrepreneurial skill has no significant impact on the reduction of unemployment in Nigeria.

H_i:       Entrepreneurial skill has significant impact on the reduction of unemployment in Nigeria.

Hypothesis Two

H_o:      Entrepreneurship education has no significant benefit to FPN graduates.

H_i:       Entrepreneurship education has significant benefit to FPN graduates.

1.6       Scope and Limitation of the Study

The study examines the impact of entrepreneurial education on unemployment rate of graduates, its significance in the reduction of unemployment in Nigeria and including a comparison between FPN that implement para-entrepreneurship educational systems. The study is focused on the Department of Business Administration and Management of the Federal Polytechnic, Nasarawa.

The limitations to the study are listed below:

1. Classroom observations were inhibited by the long and cumbersome process of obtaining permissions to carry out research.
2. Knowledge of lecturers about research would impede the regular style of lecturing to attempt including entrepreneurial mentions during classes
3. Responses from some undergraduates were possibly laced with ideals rather than realistic perspective of what they do experience.
4. There was no comprehensive data on graduate employment statistics from the universities involved.

1.7       Significant of the Study

The eventual significance of this study will be discussed under different functional headings appropriately: 

The study is of important to management and operation of education ministry as it will help to improve and enhance research study based on the subject matter. Moreover, this study discussed the various concepts of entrepreneurial education and then clarification was given on how they relate to the study of management and unemployment reduction in Nigeria. Also, this will help scholars and practitioners alike to get into the management field knowing that they have the obligatory or compulsory knowledge on terms and concepts as it relate entrepreneurial education. It will also provide the needed framework for potential researchers most especially in Nigeria, to make a positive case for the observation and proper management of unemployment.

The study will assist the management of entrepreneurial in Nigeria to recognise and understand how their operations are viewed from the standpoint of their customers.  Also, knowledge of this will help them have positive views and also to take tactical actions to counter some of the fears the customers have. This will in turn help them increase their penetration level in the long run and improve their service quality.

The study will also be beneficial to the government. As a result of the current growth in the entrepreneurial education in Nigeria are gradually becoming an integral part of the economy. Also, the study will help the government to understand that supporting the awareness of entrepreneurial education will help improve the economy as a whole.  

 1.9      Definition of Operational Term

Entrepreneurial: Entrepreneurial is someone who makes money by starting their own business, especially when this involves seeing a new opportunity and taking risks.

Education: Education is the process of facilitating learning, or the acquisition of knowledge, skills, values, beliefs, and habits.

Unemployment: Unemployment represents the number of people in the work force who want to work but do not have a job. It is generally stated as a percentage and calculated by dividing the number of people who are unemployed by the total work force.

Pedagogical Approach: Pedagogical approach refers to the interactions between teachers, students, and the learning environment and the learning tasks.

Student Internship: Internship is an opportunity offered by an employer to potential employees, called interns, to work at a firm for a fixed, limited period of time.

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