Entrepreneurship culture: An intervention mechanism for youth unemployment (original) (raw)

Entrepreneurship Education: A Remedy to Youth Unemployment in Nigeria

International Journal of Advanced Academic Research, 2021

In a developing nation, entrepreneurship education has been and would likewise continue to be a great economic stimulation to serve as a remedy to the youth unemployment in Nigeria. This paper focused on entrepreneurship education as a remedy to youth unemployment. Some issues discussed include the youth unemployment, causes of youth unemployment, effects of youth unemployment, the concepts of entrepreneur, importance of entrepreneurship education as a remedy to youth employment, as well as often encountered challenges of entrepreneurial education and the strategies/solutions for effective entrepreneurship education. On the basis of these and other auxiliary discourses, conclusion was reached and recommendations were raised for consideration. These include a call for all stakeholders to allow the entrepreneurship education to reach out to the youth, regardless of theirethnic, cultural, religious, geographical or political affiliations by establishing good scheme aimed at encouraging...

ENTREPRENEURSHIP EDUCATION AS A WAY OF CURBING YOUTH UNEMPLOYMENT IN NIGERIA

One of the biggest challenges of Nigeria today is youth unemployment. Nigeria, being the giant of Africa has the largest number of youths who are yet to be properly mobilized and empowered for gainful economic activities. This can only be tackled through Entrepreneurship Education which involves teaching and learning of the needed skills, values, attitudes and knowledge that equip one to become self-reliant through being a good citizen who is an effective manager, value agent and risk bearer of business undertakings. Therefore, this paper discusses Entrepreneurship education and unemployment reduction in Nigeria, problems facing education and its graduate and ways of addressing this problems so that our national and human resources will be properly employed for economic emancipation, so as to turn our youths into job creators and not job seekers.

Entrepreneurship Education In Nigeria: A Panacea For Youth Unemployment

This paper discusses the need for entrepreneurship education in Nigeria geared towards enhancing sustainable development in the country. Since entrepreneurship skills remain vital in the real sector and the sustenance of economic development, it has become imperative for government to pay attention to this sub-sector. The problems facing the country ranging from acute poverty, youth and graduate unemployment, dependence on foreign goods and technology; to youth restiveness and violence among others has prompted government's recognition of this fact that has led to the introduction of entrepreneurial studies in tertiary institutions. The concern is to encourage youths to engage in useful livelihood. This paper therefore argues that entrepreneurship education will equip the students with the necessary skills with which to be self-reliant. The objective and strategies for re-designing entrepreneurship education are also discussed. The paper recommends that educational programmes at all levels of education should be made relevant to provide the youths the needed entrepreneurial skills.

Entrepreneurship Education: A Panacea for Unemployment Reduction among the Youth in Nigeria

International Journal of Academic Management Science Research (IJAMSR) ISSN: 2643-900X Vol. 7 Issue 3, March - 2023, Pages: 55-58, 2023

The study examined the relationship between entrepreneurship education and unemployment among the youth in Nigeria. It adopts a descriptive research design which was conducted randomly among the selected final year students in the Faculty of Business and Management Studies which consist of three departments namely Accountancy, Banking and Finance, and Business Administration and Management. The questionnaire was the major instrument used to gather the relevant information. The study revealed that entrepreneurship was found to be positive and significant in reducing unemployment among the youth if properly implemented and therefore conclude that skill acquisition through entrepreneurship education should be a continuous process in the curriculum of higher institutions of learning in Nigeria in an attempt to reduce the level at which graduates wait endlessly for white collar jobs that do not exist and government should provide an enabling environment through the provision of security, electricity, and availability of raw materials that will promote the local production of good and serve as encouragement for the young entrepreneurs.

Youth Unemployment and Entrepreneurship Development : Challenges and Prospects in Nigeria

Kuwait Chapter of Arabian Journal of Business and Management Review, 2014

The development and transformation of Nigerian and the Sub-Sahara Africa is highly dependent on youth empowerment through Entrepreneurship. They are the backbone of economic development all over the world and play important role for employment, income and societal changes, particularly in transition economies like Nigeria. This paper is concerned with the extent to which entrepreneurship in Nigeria has helped to reduce youth unemployment, and outlines the initiative taken by government to curtain unemployment and also the challenges and prospects for the development of entrepreneurship. The study revealed that such polices and initiative by government has affected the "transformation question". This is due to the increase of corruption, inadequate and inefficient infrastructural facilities and maladministration. paper concludes that entrepreneurship country is an engine for job creation; innovation and diversity and Nigeria's entrepreneurs have a long way to go before they can effectively drive changes in the economy and recommends that Government (policy makers) should genuine recognize the essence of entrepreneurship to economic development by providing the enabling environment and secured environment for the youth to be gainful employed for economic development and also provide adequate infrastructural facilities (water, electricity, road network, communications etc.).

ENTREPRENEURSHIP: A PANACEA TO YOUTH UNEMPLOYMENT CHALLENGE

International Journal of Entrepreneurship and Business Innovation , 2022

As the problem of youth unemployment persists, especially among developing economies like Nigeria, the need for a workable solution to this problem is continually being sought. Among possible alternative solutions to the problem is entrepreneurship. This paper, espousing entrepreneurship as a key to tackling youth unemployment, presented supporting views to this line of thought. Using descriptive approach, the paper highlighted the situation of youth unemployment in Nigeria, the challenges of the business environment, reliance on entrepreneurship and the way out.

Entrepreneurship -A Panacea for Youth Unemployment in Nigeria: Implication o

Introduction: In Nigeria, unemployment is a very serious problem combating all the states. Although accurate statistical data are lacking, local media reports however indicate that half of the Nigerian population of about 150 million are youths and that about 95% of them are unemployed. Idleness, decadence of economic stagnation and poverty have driven a large percentage of them into robbery, prostitution and violence. Nwachukwu and Nwamuo (2010) noted that when youths are not gainfully employed either in the public or private sector of the economy, they become very vulnerable to criminalities such as kidnapping, armed robbery, and many other social vices which are a menace to the society. In the same vain Ewumi, and Owoyale (2012) noted that one of the many pressing challenges facing Nigeria today is youths unemployment with the ripple effect of their resort to violent crime. All forms of antisocial vices are traceable to the unemployed youths. In order to address this issue of unemployment, the Federal as well as the State governments have made some efforts through some agencies by creating skills acquisition programmes, yet many graduates and even postgraduates degree holders are still parading fine and quality certificates without employment either by public or private organizations. As a result of this, the importance of entrepreneurship development of the economy has received increased attention in Nigeria in the recent time. The Federal Government of Nigeria since 1960 has put in place different kind of institutional frame work to promote small scale enterprises in the country. These include the establishment of industrial development centers (IDCS), the Small Scale Industries Credit Scheme (SSICS), Credit Guidelines to Financial Institution (CGFI), Working For Yourself/Entrepreneurship Development Programme (WFYP/EDP), National Economic Reconstruction Fund (NERF) and the Endorsement of Micro-finance Banking System (EMBS) whose duty is to give loans to enable their customers establish small scale businesses. All these are geared towards the promotion of entrepreneurship. Entrepreneurship, in this context, is seen as the process of discovering new ways of combining resources and becoming aware of business ownership as an option or viable alternative, by developing ideas for business; learning the process of becoming a business owner, undertaking the training to acquire the skills required to establish and develop business. It includes the practical application of enterprising qualities such as initiative, innovation, creativity and risk-taking into the work environment (either in self employment or employment in small start-up firms) using appropriate skills necessary for success in that environment and culture. The entrepreneur is often referred to as the agent of social, economic and technological development. The formal processes of equipping the entrepreneur with necessary insight and skill are through formal education, entrepreneurial training and development. Training is considered as the organized procedure by which people learn knowledge and/or skills for definite purpose (Bench, 1975). The objective of training is to cause changes in behaviour of the trained. It should be noted that training means to guide someone through instruction and drill for skills acquisition. Learning is another related concept which means the human process by which skills, knowledge, habits and attitudes are acquired and utilized in such a way that behaviour is modified. Thus education as used here is inclusive of training and learning process (Ogundele & Kio, 2002) and the essence of these training is for development. Development at the individual level according to Rodney (2005) is the increase in skill and capacity, greater freedom, creativity, self-discipline responsibility and material well being. The achievement of any of these aspects of personal development is directly related to the state of the society as a whole. At the level of social groups, development implies an increasing capacity to regulate both internal and external relationship. Rodney (2005) is of the view that the tool with which men work and the manner in which they organise their labour are important indices of social development. He further noted that development when used exclusively in economic sense, refers to how members of a society increase, jointly exercise their capacity for subduing the environment. Capacity here is dependent on the extent to which they understand the laws of nature (science), technological know-how and organisation of work which are assisted by the processes of formal education,

Youth unemployment: Entrepreneurship development programme as an intervention mechanism

African Journal of Business …, 2010

Within the framework of potential efforts and strategies to boost employment and job creation for young people, entrepreneurship is increasingly accepted as an important means and a valuable additional strategy to create jobs and improve livelihoods and economic independence of young people. Regrettably, problems of unemployment as experienced by the educated youths and even the uneducated but skilled youths have become more pathetic in many developing economies, despite the neo-liberal strategies in addressing the issue of enhancing human capital. The aim of this paper is therefore to examine the constraints that impede young people in search of non-existing jobs and the urgent need to orient people of these affected economies particularly Nigerians on imbibing selfemployment and entrepreneurship through vocational and entrepreneurial training programmes as a short-term intervention mechanism.

Trickling down youth unemployment in Nigeria by leveraging on Entrepreneurial Education

According to the 2012 National Bureau of Statistics (NBS), Nigeria’s population is said to have grown to about 167 million. The population influx includes approximately 50% young people who are between the ages of 15 and 34 years old. This demographic figure has been left out of the economic dividends with the prevailing rate of unemployment among the youths. In 2012, the number of unemployed youths was approximately 11.1 million. University graduates also constituted about 20% of the youth unemployment and often remained unemployed for five years or more post-graduation (NISER, 2013). Various international organizations in the field of development have signaled that this figure could constitute a huge ticking time bomb in Nigeria if nothing is done to reduce the unemployment rate. There are many contributing factors why the prevalence of unemployment among Nigerian youths is at an all-time high. Reasons such as high population growth rate of 3.5% per annum; poor educational curriculum that does not reflect or meet the challenges of the 21st century graduate; skills mismatch between graduates and potential employers; infrastructural deficits due to weakening effect brought about by the structural adjustment program (SAP) and unsound, inconsistent, distorted public policies relating to youth development and unemployment all contribute to youth unemployment. These listed reasons, although quite tangible for unemployed graduates to overcome, are difficult to reach because graduates lack essential entrepreneurial education. With proper entrepreneurial education, youth could diminish a critical social divide and other societal vices within the country. Young people can indeed become game changers by strengthening the informal sector of the country. Although ignored, the informal sector currently contributes about 57.9% of the country’s total Gross Domestic Product (GDP). In an effort to decrease youth unemployment, this paper seeks to present the new model of education that has been tested at various fronts within Nigeria to curb unemployment, while also promoting job creation vis-à-vis economic empowerment. The paper critically looks at how various stakeholders can work together to absorb the dividends by promoting entrepreneurial education to strengthen the sector. This paper will give examples of local success stories to illustrate how a social business such as Business Management Consortium (BMC) and other institutions within Nigeria have been able to leverage the Entrepreneurial Education tool to bridge this employment divide . As strategic planning is needed to exact change, and combat the menace of youth unemployment plaguing the nation of Nigeria, the proposal provides insights into models that already exists within the framework of BMC as a social enterprise; the possibilities existing across various sectors and points to action elements on how to make the necessary adjustments to ensure that this youth bulge does not constitute a greater burden to the country in the future. Keen attention is given to concrete implementation strategies that can be locally promoted across different scales but with a long-term national and regional outlook.

Youths Entrepreneurship: A Panacea to Employment Generation and Sustainable Development in Nigeria

The Nigerian Journal of Sociology and Anthropology, 2017

The role of youth entrepreneurship in the economic development has been well recognized in the literature. In a liberal market economy, entrepreneurs coordinate economic activities in such a way that factors of production are moved to areas in which they are fully utilized while they also bear risk and uncertainty in the process of arbitrage which eventually leads to the expansion of the production possibility curve, socio-economic growth and development. In contemporary time, the movement by nations of the world towards a neo-liberal economic framework has elevated the study of determinants of entrepreneurship to the centre stage. It has been established from past studies that entrepreneurship especially among youths has become antidote to joblessness and underdevelopment. This paper, therefore, examines the role of youth entrepreneurship development as a panacea to sustainable development in Nigeria. The paper suggested that if Nigeria in her quest to reducing unemployment and pov...