Entrepreneurial Education in Higher Institutions and Economic Development

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.